CBOE Holdings Inc will soon offer a new set of fee discounts to its most active traders to head off a recent decline in market share for single-stock options, its chief executive said on Thursday.
Market share in those highly competitive options has eroded this year, and CEO William Brodsky told analysts on a conference call Thursday that the exchange would unveil a new set of volume incentives "in the near future."
The operator of the Chicago Board Options Exchange has credited fee discounts with increasing business in options on individual stocks, in which it competes head to head with eight other exchanges.
CBOE has boosted fees on contracts it offers exclusively.
Brodsky also said he sees "tremendous potential" for overseas growth, particularly in contracts tied to volatility like CBOE's VIX "fear" index. The exchange has extended its trading hours and is opening a London hub to capture more of that business.
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