Stock in the Chicago Board Options Exchange (CBOE) rallied to levels not seen since shortly after its June 2010 initial public offering after announcing third quarter earnings on Thursday.
CBOE reported operating Revenues of $128.3 million, down 11% from Q3 2011, which was a record quarter. The exchange also reported Q3 2012 net income allocated to common stockholders of $45.2 million, or $0.52 per diluted share, compared with $40.6 million, or $0.45 per diluted share in the third quarter of 2011.
CBOE Holdings Chairman and CEO William Brodsky stated in a press release, “Our diverse product line, market share gains and disciplined financial management enabled CBOE to post positive financial results, despite lower industry-wide trading activity.”
Brodsky highlighted growth in their volatility products including futures on its volatility index (VIX).
CBOE also reported that its total options market share excluding dividend trades increased to 29.3% in Q3 from 27.5% in Q3 2011.