CBOE Futures Exchange Set For June 22 Launch Of 24-Hour VIX Futures Trading
CHICAGO, June 9, 2014 /PRNewswire/ — CBOE Futures Exchange(SM) (CFE®) confirmed today that it will extend trading hours for CBOE Volatility Index® (VIX® Index) futures to nearly 24 hours a day, five days a week, starting Sunday, June 22. In March, CFE announced June 22 as its planned launch date.
The trading week for VIX futures at CFE will begin each Sunday at 5:00 p.m. CT and end on Friday at 3:15 p.m. CT. CFE will close for 15 minutes between 3:15 p.m. CT and 3:30 p.m. CT, Monday through Thursday, after which the next trading day will begin at 3:30 p.m. CT.
“We’ve been very encouraged by the number and diversity of users taking advantage of the additional trading hours since we extended hours for VIX futures last fall,” CBOE Holdings CEO Edward T. Tilly said. “We’re therefore pleased to expand trading to nearly around the clock during the trading week, which will accommodate Asian market hours and provide a growing worldwide user base even greater access and flexibility in trading VIX futures.”
Year to date through May, approximately 7.5 percent of VIX futures average daily volume was transacted outside of regular U.S. trading hours.
Over the last few years, CFE has lengthened its extended trading hours in VIX futures to accommodate customer requests for longer trading sessions outside of regular U.S. trading hours. Most recently, in October and November last year, CFE added five hours, 45 minutes to the VIX futures trading day.
For more information, refer to Regulatory Circulars RG14-017 and RG17-018 at http://cfe.cboe.com/aboutcfe/legal/regcirc.aspx.
About CBOE Futures Exchange
CBOE Futures Exchange currently offers nine contracts: CBOE Volatility Index (VIX Index) futures (VX), CBOE Short-Term Volatility Index (VXST) futures, S&P 500 Variance futures (VA), CBOE NASDAQ-100 Volatility Index (VXN) futures (VN), CBOE Russell 2000 Volatility Index (RVX) futures (VU), 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) and CBOE Brazil ETF Volatility Index (VXEWZ) security futures (VXEW).
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 Exchange(SM), CBOE Short-Term Volatility Index(SM), CBOE Nasdaq-100 Volatility Index(SM), VXN(SM), VN(SM), CBOE Brazil ETF Volatility Index(SM), VXEW(SM), VXEWZ(SM), CBOE Crude Oil ETF Volatility Index(SM), OVX(SM), OV(SM), CBOE Emerging Markets ETF Volatility Index(SM), VXEM(SM), VXEEM(SM), CBOE Gold ETF Volatility Index(SM), GVZ(SM), GV(SM), CBOE Russell 2000 Volatility Index(SM), RVX(SM), Execute Success(SM), SPX(SM), VA(SM), VU(SM), VX(SM), VXST(SM) and Weeklys(SM) 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.
SOURCE CBOE Futures Exchange