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(Compares results with estimates, adds share move and Q4 details)
Feb 6 (Reuters) - CBOE Holdings Inc, the operator of the largest U.S. options exchange, reported better-than-expected quarterly profit and revenue, helped by a rise in transaction fees.
The Chicago-based company, whose shares were up marginally in after-hours trading, said it saw record trading in S&P 500 options and CBOE Volatility Index futures in the fourth quarter.
CBOE, which agreed to buy Bats Global Markets Inc for $3.2 billion last year, said its operating expenses rose about 10 percent to $88.1 million.
The higher costs weighed on profits. The company's net income allocated to common shareholders fell 10.8 percent to $44.8 million, or 55 cents per share, in the quarter ended Dec. 31.
However, the company earned 63 cents per share, excluding items, beating the average analyst estimate of 60 cents, according to Thomson Reuters I/B/E/S.
CBOE's operating revenue rose 4.7 percent to $163.24 million, brushing past analysts' estimate of $160.10 million.
Total trading volumes rose 12.6 percent to 305.8 million. However, the average rate paid per contract fell 7.6 percent to 37 cents.
Up to Monday's close, CBOE's stock had surged about 28 percent in the past one year. (Reporting by Sruthi Shankar in Bengaluru; Editing by Maju Samuel)