CBOE Futures Exchange, LLC (CFE^®)
today announced that the first phase of its previously announced plans to
expand CBOE Volatility Index^® (VIX^® index) futures trading hours will begin
in late September, with the second phase to begin in the weeks that follow.
Phase I
The first phase of the expanded trading hours initiative is designed to meet
demand from U.S. customers for a post-settlement trading period by adding a
45-minute trading session to the current trading hours for VIX futures (7:00
a.m. CT to 3:15 p.m. CT).
o Fifteen minutes after the 3:15 p.m. CT close of VIX futures, the market
will reopen for a new trading period from 3:30 p.m. CT to 4:15 p.m. CT.
Trading will then resume at 7:00 a.m. CT the following morning.
o The new 45-minute period, which marks the beginning of the next trading
day, will be available from Monday through Thursday.
Phase II
The second phase of the expanded trading hours initiative will allow
European-based customers to trade VIX futures during their local trading hours
by beginning the current trading session five hours earlier than its current
opening time of 7:00 a.m. CT.
o Trading will begin at 2:00 a.m. CT (8:00 a.m. London time).
o The new five-hour period, which precedes the current trading hours, will
be available from Monday through Friday.
With both expanded trading periods in place, VIX futures trading hours will
run from 2:00 a.m. CT through 3:15 p.m. CT, Monday through Friday, with the
3:30 p.m. CT to 4:15 p.m. CT session available Monday through Thursday. No
trading is scheduled on Saturdays and Sundays in either of the phases.
The changes are subject to regulatory review.
On February 1, CFE opened a communications hub outside of London to further
expand VIX futures trading from Europe. The Hub, which connects the Equinix
facility in Slough, England to the CBOE Command Center at the Equinix facility
in New Jersey, provides European firms with an economical choice to connect to
the CFE trading system.
About CBOE Futures Exchange
CBOE Futures Exchange currently offers trading in: the 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) and CBOE Brazil ETF Volatility Index (VXEWZ)
security futures (VXEW).
CFE, a wholly-owned subsidiary of CBOE Holdings, Inc. 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-EF
CBOE®, Chicago Board Options Exchange®, CFE®, CBOE Volatility Index® and VIX®
are registered trademarks, and CBOE Futures Exchange^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, VM^SM and VX^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. 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.
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