Keefe Bruyette's Exchanges & Order Execution Summary

Keefe, Bruyette & Woods analyzes key growth drivers at the exchange and order execution firms for the week ending September 15 and include how volume is tracking vs. expectations. Here are KBW's ratings: CBOE Holdings, Inc

Target Price: $25.00 Risk Factors: Risks to our price target include the following: market conditions and events may not ultimately reflect our assumptions and/or projections. Volatility in the markets carries the potential for shifts in confidence among investors. Investment in securities invariably involves risk and potential for loss of principal. CME Group, Inc.

Target Price: $345.00 Risk Factors: Risks to our price target include the following: market conditions and events may not ultimately reflect our assumptions and/or projections. Volatility in the markets carries the potential for shifts in confidence among investors. Intercontinental Exchange, Inc.

Target Price: $122.00 Risk Factors: Risks to our price target include the following: Market conditions and events may not ultimately reflect our assumptions and/or projections. Volatility in the markets carries the potential for shifts in confidence among investors. Investment in securities invariably involves risk and potential for loss of principal. Investment Technology Group

Target Price: $15.00 Risk Factors: Risks to our price target include the following: Market conditions and events may not ultimately reflect our assumptions and/or projections. Volatility in the markets carries the potential for shifts in confidence among investors. Investment in securities invariably involves risk and potential for loss of principal. Knight Capital Group, Inc.

Target Price: $17.00 Risk Factors: Risks to our price target include the following: market conditions and events may not ultimately reflect our assumptions and/or projections. Volatility in the markets carries the potential for shifts in confidence among investors. Investment in securities invariably involves risk and potential for loss of principal. Nasdaq OMX Group

Target Price: $25.00 Risk Factors: Risks to our price target include the following: market conditions and events may not ultimately reflect our assumptions and/or projections. Volatility in the markets carries the potential for shifts in confidence among investors. Investment in securities invariably involves risk and potential for loss of principal. NYSE Euronext

Target Price: $32.00 Risk Factors: Risks to our price target include the following: market conditions and events may not ultimately reflect our assumptions and/or projections. Volatility in the markets carries the potential for shifts in confidence among investors. Investment in securities invariably involves risk and potential for loss of principal.