Cboe Global Markets (CBOE) 8-K Entry into a Material Definitive Agreement

Exhibit 12.1

Ratio of Earnings to Fixed Charges

(in millions, except ratios and percentages)

	Three Months Ended			Year Ended December 31,
Description	March 31, 2017			2016			2015			2014			2013			2012
Pretax income before adjustment for income or loss from equity investees	$	18.3		$	306.6		$	324.0		$	309.7		$	283.7		$	242.6
Fixed charges:
Interest expensed and capitalized and amortized premiums, discounts and capitalized expenses	8.6			5.7			—			—			—			—
Estimate of interest expense within rental expense	0.7			1.5			1.4			1.3			1.0			1.1
Distributed income of equity investees	—			2.9			2.4			—			—			—
Earnings	$	27.6		$	316.7		$	327.8		$	311.0		$	284.7		$	243.7
Ratio of earnings to fixed charges	3.0x			43.9x			232.0x			244.7x			284.9x			212.1x
Estimate of interest expense within rental expense
Rental expense	$	2.1		$	4.4		$	4.1		$	3.8		$	3.0		$	3.5
Estimate of interest component of rental expense%	33.3		%	33.3		%	33.3		%	33.3		%	33.3		%	33.3		%
Estimate of interest expense within rental expense	$	0.7		$	1.5		$	1.4		$	1.3		$	1.0		$	1.1