FOR IMMEDIATE RELEASE
CBOE CHAIRMAN AND CEO WILLIAM BRODSKY RECEIVES INDEXING LIFETIME ACHIEVEMENT AWARD AT SUPER BOWL OF INDEXING CONFERENCE
CHICAGO, December 17, 2009
- William J. Brodsky, Chairman and CEO of the Chicago Board Options Exchange (CBOE), has received the William F. Sharpe Indexing Lifetime Achievement Award for his career-long support of index products as risk-management tools. The award was presented earlier this month at the Super Bowl of Indexing Conference in Phoenix, Arizona.
Brodsky is a 40-year veteran of the options, stock and futures business. At CBOE Brodsky furthered the addition of index benchmarks and tradable products based on index benchmarks, including CBOE Volatility Index (VIX) futures and options. Under Brodsky's leadership, CBOE also has added key strategy-based indexes to its list of innovations - among them the CBOE S&P 500 BuyWrite Index (BXM), the first major benchmark index for options performance, and the CBOE S&P 500 PutWrite Index (PUT), thefirst major benchmark index for short put options performance.From 2000 through 2008, CBOE's average daily volume of index-related options trading (both index and ETF options) has grown more than 1100 percent, with a compounded annual growth rate of 37 percent.
Prior to CBOE, Brodsky in 1982 brought his equity market experience to Chicago Mercantile Exchange (CME) during the early developmental stages of stock index futures. During his 15 years with CME, a wide variety of indexes on small-, mid- and large-cap markets were listed, and Brodsky also was integrally involved in issues that affected the success of index products - cross-margining, new settlement conventions for stock index futures, coordinated circuit breakers between Chicago and New York, and the expansion to virtually 24-hour trading for stock index futures products.
This is the sixth time in six years that CBOE has received awards at the Super Bowl of Indexing Conference. Past CBOE awards include: in 2008, Joe Levin, CBOE Vice President, Research and Product Development (Lifetime Achievement Award); in 2004, the CBOE S&P 500 BuyWrite Index (Most Innovative Benchmark Index); and in 2007, the CBOE S&P 500 PutWrite Index (Most Innovative Benchmark Index). Futures and options on the CBOE Volatility Index (VIX) earned the distinction as the Most Innovative Index Derivative Product in 2004 and 2006, respectively.
The Super Bowl of Indexing awards are chosen following a rigorous selection process, which begins with hundreds of nominations each year. The finalists are sent to a voting committee comprised of the world's leading academics in the indexing research world, where they cast their ballots and the winners are chosen.
The Super Bowl of Indexing Conference is an annual meeting of the Index Business Association, attended by more than 600 industry professionals and academics that seek in-depth information and analysis on a broad spectrum of financial instruments and concepts.
Chicago Board Options Exchange (CBOE), the largest U.S. options exchange and creator of listed options, continues to set the bar for options trading through product innovation, trading technology and investor education. CBOE offers equity, index and ETF options, including proprietary products, such as S&P 500 options (SPX), the most active U.S. index option, and options on the CBOE Volatility Index (VIX), the world's barometer for market volatility. Other groundbreaking products engineered by CBOE include equity options, security index options, LEAPS, FLEX options, and benchmark products such as the CBOE BuyWrite Index (BXM). CBOE's Hybrid Trading System incorporates electronic and open-outcry trading, enabling customers to choose their trading method.CBOE's Hybrid is powered by CBOEdirect, a proprietary, state-of-the-art electronic platform that also supports the CBOE Futures Exchange (CFE), CBOE Stock Exchange (CBSX) and OneChicago. CBOE is home to the world-renowned Options Institute and www.cboe.com, named "Best of the Web" for options information and education.
CBOE is regulated by the Securities and Exchange Commission (SEC), with all trades cleared by the AAA-rated Options Clearing Corporation.
CBOE®, Chicago Board Options Exchange®, CBOEdirect®, CBOE Volatility Index®, VIX®, XEO®, OEX®, CBSX® and CBOE Stock Exchange® are registered trademarks of Chicago Board Options Exchange, Incorporated.SPXSM, XSPSM, MNXSM, GVZSM, EVZSM, OVXSM, BXOSM, RUHSM, VXDSM, VXNSM, RVXSM, VPDSM, VPNSM, VTYSM, VXOSM, and VXVSM are service marks of Chicago Board Options Exchange, Incorporated.CFE® is a registered trademark and CBOE Futures ExchangeSM is a service mark of CBOE Futures Exchange, LLC.Dow Jones®, DJIA®, and DIAMONDS® are registered trademarks of Dow Jones & Company, Inc. Dow Jones Industrial AverageSM and Options on the DowSM are service marks of Dow Jones & Company.CBOE's Options on the Dow based on the Dow Jones Industrial Average and financial products based on the CBOE DJIA Volatility Index are not sponsored, endorsed, marketed or promoted by Dow Jones. S&P®, S&P 100®, S&P 500®, and SPDR are registered trademarks of the McGraw-Hill Companies, Inc. and are licensed for use by the Chicago Board Options Exchange, Incorporated pursuant to a License Agreement. The Russell 2000® Index is a registered trademark of The Frank Russell Company used under license.Nasdaq®, Nasdaq-100®, Nasdaq-100 Index®, and PowerShares QQQ TrustSM are trademarks of The Nasdaq Stock Market, Inc. iShares is a service mark of Barclays Global Investors, N.A. "HOLDRS" and "Holding Company Depositary ReceiptS" are service marks of Merrill Lynch & Co., Inc.
BXMSM and PUTSM are service marks of CBOE.The methodologies of the CBOE BuyWrite Indexes and the PutWrite Index are owned by CBOE and may be covered by one or more patents or pending patent applications.
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In connection with the proposed restructuring transaction, CBOE Holdings, Inc. ("CBOE Holdings") has filed certain relevant materials with the United States Securities and Exchange Commission (SEC), including a registration statement on Form S-4. Members are encouraged to read the registration statement, including the proxy statement/prospectus that are a part of the registration statement, because it contains important information about the proposed transaction. Members are able to obtain a free copy of the proxy statement/prospectus, as well as the other filings containing information about CBOE Holdings and the Chicago Board Options Exchange, Incorporated ("CBOE"), without charge, at the SEC's Web site, http://www.sec.gov/, and the companies' website, www.cboe.com/.In addition, CBOE members may obtain free copies of the proxy statement/prospectus and other documents filed by CBOE Holdings or the CBOE from CBOE Holdings by directing a request to the Office of the Secretary, CBOE Holdings, Inc., 400 South LaSalle Street, Chicago, Illinois 60605.
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