Cboe Global Markets, Inc. · CBOE:CBOE
Cboe Global Markets — CBOE Holdings — Shareholder Meeting (May 2015)
28 slides from Cboe Global Markets's shareholder meeting presentation, May 21, 2015
Slide 1: Welcome: 2015 Annual Meeting of Stockholders
Welcome 2015 Annual Meeting of Stockholders Thursday, May 21, 2015 CBOE HOLDINGS 1
Slide 2: William J. Brodsky, Chairman
William J. Brodsky Chairman
Slide 3: Meeting Agenda
Meeting Agenda Introduction of Board of Directors and Senior Executives Vote on Proposals Business Review and Update Questions and Answers Report Preliminary Voting Results CBOE HOLDINGS 3
Slide 4: Annual Meeting of Stockholders
2015 Annual Meeting of Stockholders Thursday, May 21, 2015 CBOE HOLDINGS 4
Slide 5: Edward T. Tilly, Chief Executive Officer
Edward T. Tilly Chief Executive Officer
Slide 6: Forward-Looking Statements
Forward-Looking Statements This press release may contain forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are those statements that reflect our expectations, assumptions or projections about the future and involve a n
Slide 7: 2014 Marks Fourth Consecutive Year of Record Results
2014 Marks Fourth Consecutive Year of Record Results CAGR: + 9.3% CAGR: + 20.3% ¹Adjusted to reflect the impact of certain items. See appendix for “Non-GAAP Information.” CBOE HOLDINGS 7
Slide 8: Continue to Lay the Foundation for Future Growth
Continue to Lay the Foundation for Future Growth Total trading volume down 14% YTD VIX Options ADV (in thousands) Chart Title 632 Volatility trades work especially well as a 567 hedge against sharp market declines 389 443 441 248 Absent real concerns about a sharp, sustained market pullback 2010 201
Slide 9: Advancing CBOE's Core Mission
Advancing CBOE’s Core Mission Create value for stockholders by generating industry-leading profit margins and growth rates through a diversified portfolio of risk management products and services. Collaborate Create Connect CBOE HOLDINGS 9
Slide 10: Creating New Volatility Products
Creating New Volatility Products Product innovation is the cornerstone of our growth strategy Launched futures on the CBOE/CBOT 10-year Treasury Note Volatility Index (TYVIX) in November 2014 Interest rates represent the largest asset class in the OTC market First exchange-traded volatility benchmar
Slide 11: Collaborate
Collaborate Growing roster of CBOE indexes CBOE HOLDINGS 11
Slide 12: Collaborate With New Index Providers
Collaborate With New Index Providers Forging collaborative partnerships to expand index complex December 2014 licensing agreement with MSCI CBOE exclusive U.S. exchange for trading MSCI Index options First CBOE MSCI options launched April 21: MSCI EAFE Index (Europe, Australasia, Far East) MSCI Emer
Slide 13: Collaborate With New Index Providers
Collaborate With New Index Providers CBOE entered into an exclusive licensing agreement with London Stock Exchange Group CBOE is the exclusive provider for cash-settled listed options to trade in the U.S. on more than 24 FTSE and Russell Indexes On April 1, became sole provider of listed Russell 200
Slide 14: Creating More Trading Opportunities and Synergies
Creating More Trading Opportunities and Synergies CBOE’s expanding suite of index products will allow market participants to hedge and trade: Global Volatility Global Stock Market Broad U.S. Stock Market U.S. Small-Cap Market European and Asian International Equities World’s Emerging Markets CBOE HO
Slide 15: Connecting With An Expanding Customer Base
Connecting With An Expanding Customer Base Leveraging CBOE’s ability to connect with customers globally across a range of efficient channels The Options Institute CBOE TV CBOE.com CBOE’s social media platform CBOE’s Risk Management Conferences (RMC) Expanding annual RMC beyond the U.S. and Europe to
Slide 16: Connect: Broadening Access to Our Premium Products
Connect: Broadening Access to Our Premium Products More than 8% of VIX futures trading during non-U.S. hours YTD¹ In June 2014, expanded trading in VIX futures to nearly 24X5 In March 2015, extended trading hours in VIX and SPX options New session runs from 2:00 a.m. to 8:15 a.m. CT, Monday through
Slide 17: Create New Trading Platform – CBOE Vector
Create New Trading Platform – CBOE Vector℠ Systems development is deeply embedded in CBOE’s value proposition Development of next generation of trading technology is underway Leveraging our in-house trading and technology expertise Building a customized, state-of-the-art platform Responds to the tra
Slide 18: Creating Value for Stockholders
Creating Value for Stockholders Consistent track record of growth Returned more than $1 billion in capital since IPO Broadening Developing Engaging Access to New Customers Our Products Marketplace CBOE HOLDINGS 18
Slide 19: 2014 Opportunities
2014 Opportunities CBOE HOLDINGS 19
Slide 20: 2015 – Creating New Opportunities
2015 – Creating New Opportunities CBOE HOLDINGS 20
Slide 21: Questions & Answers
Questions & Answers
Slide 22: Annual Meeting of Stockholders
2015 Annual Meeting of Stockholders Thursday, May 21, 2015 CBOE HOLDINGS 22
Slide 23: Appendix Materials
Appendix Materials
Slide 24: GAAP to Non-GAAP Reconciliation For 2010 and 2011
GAAP to Non-GAAP Reconciliation For 2010 and 2011 GAAP to Non-GAAP Reconciliation (in thousands, except per share amounts) 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 FY2010 FY2011 Reconciliation of GAAP Net Income Allocated to Common Stockholder to Non-GAAP GAAP net income allocated to common stockholders $ 20,0
Slide 25: GAAP to Non-GAAP Reconciliation For 2012 and 2013
GAAP to Non-GAAP Reconciliation For 2012 and 2013 GAAP to Non-GAAP Reconciliation (in thousands, except per share amounts) 1Q12 2Q12 3Q12 4Q12 FY2012 1Q13 2Q13 3Q13 4Q13 FY2013 Reconciliation of GAAP Net Income Allocated to Common Stockholder to Non-GAAP GAAP net income allocated to common stockhold
Slide 26: GAAP to Non-GAAP Reconciliation For 2014 and 2015 YTD
GAAP to Non-GAAP Reconciliation For 2014 and 2015 YTD GAAP to Non-GAAP Reconciliation (in thousands, except per share amounts) 1Q14 2Q14 3Q14 4Q14 FY2014 1Q15 2Q15 3Q15 4Q15 FY2015 Reconciliation of GAAP Net Income Allocated to Common Stockholder to Non-GAAP GAAP net income allocated to common stock
Slide 27: Non-GAAP Information
Non-GAAP Information In addition to disclosing results determined in accordance with GAAP, CBOE Holdings has disclosed certain non-GAAP measures of operating performance. The non-GAAP measures provided in this presentation include core operating expenses, adjusted operating revenue, adjusted operati
Slide 28: CBOE, 400 South LaSalle Street, Chicago
CBOE 400 South LaSalle Street Chicago, Illinois 60605 www.cboe.com