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CBOE, C2 Report Deals with FINRA Related to Involving Regulatory Services

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CBOE Holdings, Inc. (NASDAQ: CBOE)
today announced that Chicago Board Options Exchange^® (CBOE^®) and C2 Options
Exchange (C2) have entered into an agreement with the Financial Industry
Regulatory Authority (FINRA), under which FINRA will perform the majority of
the exchanges' regulatory services.

Additionally, CBOE entered into a separate agreement with FINRA, under which
CBOE will assign to FINRA its responsibility to perform regulatory services
for the Options Regulatory Surveillance Authority (ORSA), the central
organization facilitating collaboration in insider trading surveillance and
investigations for all U.S. options exchanges.

FINRA will begin to perform all of these services on January 1, 2015.

Regulation of CBOE Futures Exchange (CFE^®) will continue to be provided by
CFE Regulatory Services staff.

"We're pleased to announce completion of these agreements," said CBOE Holdings
CEO Edward T. Tilly. "By combining FINRA's regulatory independence and
efficiency and CBOE's regulatory oversight experience, we are further
reinforcing the integrity of our markets and investor protection. Ultimately,
our agreements with FINRA signify CBOE's ongoing commitment to maintain the
highest standards in market regulation and to reliably serve the investing
public."

The vast majority of CBOE's and C2's Regulatory Services Division, ORSA staff
and Systems Development Department staff who support options regulation --
about 125 employees in total – have accepted positions with FINRA.

CBOE and C2 will continue to be responsible for the regulation of their
markets and will maintain an in-house regulatory team to manage CBOE and C2
regulatory surveillance programs and to oversee the FINRA regulatory services
relationship.

Tim Thompson, CBOE Senior Vice President and Chief Regulatory Officer, will be
moving to FINRA as a Senior Vice President. CBOE Vice President and Deputy
Chief Regulatory Officer Greg Hoogasian will succeed Thompson and be named
CBOE Chief Regulatory Officer.

Posted-In: News Press Releases

 

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