2012 Trading Volume Reaches New All-Time High At CBOE Futures Exchange

Terry Flanagan

VIX Futures and Exchange-Wide Volume Double from 2011
CHICAGO, Jan. 2, 2013 /PRNewswire/ — The CBOE Futures Exchange, LLC (CFE®) announced today that both total exchange-wide trading activity and trading volume in futures on the CBOE Volatility Index® (VIX®) reached new all-time highs during 2012.  In a record-setting year, a host of new milestones were achieved at the exchange.

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2012 Volume
Total CFE trading volume in 2012 set a new record with 23.89 million contracts traded, an increase of 98 percent from 12.04 million contracts traded in 2011, the previous annual record.   The year 2012 marked the third consecutive year of record exchange-wide trading activity for CFE.  Average daily volume (ADV) at CFE also reached a new high for a third straight year in 2012.  The 95,571 contracts per day doubled the 47,782 contracts traded per day in 2011.

Total 2012 VIX futures volume set a new record with 23.79 million contracts traded, an increase of 98 percent from the 12.03 million contracts traded in 2011, which stood as the previous annual record. VIX futures ADV for 2012 was 95,143 contracts, also a third consecutive annual record.   ADV was up 100 percent from the 47,730 contracts traded per day in 2011, the previous high mark.

Also during 2012, VIX futures open interest set numerous records, the highest at 469,000 contracts on December 13.

Monthly Volume Summary Year-To-Date
Dec2012 Dec2011 %Chg Nov2012 % Chg 2012 2011 % Chg
Trading Days 20 21 21 250 252
VIX Index Futures
     Total 2,435,648 648,118 276% 2,734,248 -12% 23,785,806 12,027,955 98%
     ADV 121,782 30,863 295% 130,202 -6% 95,143 47,730 99%
CFE Total Exchange
     Total 2,446,471 648,594 277% 2,744,177 -11% 23,892,851 12,041,102 98%
     ADV 122,323 30,885 296% 130,675 -6% 95,571 47,782 100%

December 2012 Volume
Total trading volume at CFE during December was 2.45 million contracts up 277 percent from December 2011 volume of nearly 650,000 contracts and down 11 percent from the record 2.74 million contracts traded during November.  Total exchange-wide ADV during December was 122,323 contracts, up 296 percent from December 2011 ADV of 30,885 contracts and down six percent from record ADV of 130,675 contracts in November.

Trading volume in VIX futures during December totaled nearly 2.44 million contracts, up 276 percent from 648,118 contracts traded in December 2011 and down 12 percent from the record 2.73 million contracts traded during November.  ADV in VIX futures during December was 121,782 contracts, down six percent versus the record ADV of 130,200 contracts in November. When compared to the ADV of 30,863 contracts in December 2011, December ADV rose by 295 percent.

About CBOE Futures Exchange:
CFE currently offers nine contracts: CBOE Volatility Index (The VIX Index) futures (VX), Mini-VIX futures (VM), S&P 500 Variance futures (VA), CBOE NASDAQ-100 Volatility Index (VXN) futures (VN), CBOE Gold ETF Volatility Index (GVZ) security futures (GV), CBOE Crude Oil ETF Volatility Index (OVX) security futures (OV), CBOE Emerging Markets ETF Volatility Index (VXEEM) security futures (VXEM), CBOE Brazil ETF Volatility Index (VXEWZ) security futures (VXEW) and Radar Logic 25-Metropolitan Statistical Area (MSA) RPX Composite Index futures (RPXCP).

CFE, a wholly-owned subsidiary of CBOE Holdings, Inc. (NASDAQ: CBOE), offers an all-electronic, open-access market model, with traders providing liquidity and making markets. CFE is regulated by the Commodity Futures Trading Commission (CFTC) and all trades are cleared by the OCC.

More information on CFE and its products, including contract specifications, can be found at: http://cfe.cboe.com/.



CBOE®, Chicago Board Options Exchange®, CFE®, CBOE Volatility Index® and VIX® are registered trademarks, and CBOE Futures ExchangeSM, CBOE Nasdaq-100 Volatility IndexSM, VXNSM, VNSM, CBOE Brazil ETF Volatility IndexSM, VXEWSM, VXEWZSM, CBOE Crude Oil ETF Volatility IndexSM, OVXSM, OVSM, CBOE Emerging Markets ETF Volatility IndexSM, VXEMSM, VXEEMSM,  CBOE Gold ETF Volatility IndexSM, GVZSM, GVSM, VMSMand VXSM are service marks of Chicago Board Options Exchange, Incorporated (CBOE). Standard & Poor’s®, S&P® and S&P 500® are registered trademarks of Standard & Poor’s Financial Services, LLC, and have been licensed for use by CBOE and CFE. The Nasdaq-100 Index®, Nasdaq-100®, and Nasdaq® are trademark or service marks of The Nasdaq Stock Market, Inc. (with which its affiliates are the “Corporations”). These marks are licensed for use by CBOE in connection with the trading of products based on the Nasdaq-100 Index. The products have not been passed on by the Corporations as to their legality or suitability. The products are not issued, endorsed, sold or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE PRODUCT(S). All other trademarks and service marks are the property of their respective owners.

SOURCE CBOE Futures Exchange, LLC

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