In addition, I'd like to point out that this presentation will include the use of several slides. We will be showing the slides and providing commentary on each. A downloadable copy of the slide presentation is available on the Investor Relations portion of our website. As a preliminary note, you should be aware that this presentation contains forward-looking statements, which represent our current judgment on what the future may hold, and while we believe these judgments are reasonable, these forward-looking statements are not guarantees of future performance and involve certain assumptions, risks and uncertainties. Actual outcomes and results may differ materially from what is expressed or implied in any forward-looking statements. Please refer to our filings with the SEC for a full discussion of the factors that may affect any forward-looking statements. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, after this conference call.

Now, I'd like to turn the call over to Bill Brodsky.

William J. Brodsky

Thanks, Debbie. Good morning and thank you for joining us today. It is my pleasure to report another very positive quarter at CBOE Holdings, where we delivered our eighth consecutive quarter of adjusted earnings per share growth and made significant year-over-year gains in market share. Our strong performance in multi-listed products, our ability to leverage proprietary products and a prudent approach to cost management enabled our company to achieve solid financial results despite lower industry-wide trading volume.

CBOE Holdings continues to generate and return enhanced value to our stockholders. We are especially pleased with our board's recent action to increase our quarterly dividend by 25% and to increase our share repurchase program by $100 million. My remarks today will focus on progress made in the quarter on our key strategic initiatives for 2012: product development; optimizing revenue in commoditized products; broadening our customer base; and leveraging our state-of-the-art trading technology.

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