Investors from around the world have expressed interest in Extended Trading Hours (ETH) for key risk management tools, and, since June 2014, the trading hours for futures on the CBOE Volatility Index® (VIX®) have been expanded to nearly 24 hours a day, five days a week.
PLANS FOR ETH FOR SPX AND VIX OPTIONS NEXT MONTH
CBOE announced a plan this morning to launch Extended Trading Hours for options on both the S&P 500 and the VIX indexes next month, contingent upon SEC approval.
CBOE Regulatory Circular RG15-014 (available at www.cboe.com/ETH) provides that —
“… [CBOE] has received [SEC] approval of its rule filing to introduce Extended Trading Hours (“ETH”) for options on the S&P 500 Index (SPX/SPXW) and on the CBOE Volatility Index (VIX). … CBOE intends to launch ETH following SEC approval of proposed rules of The Options Clearing Corporation (“OCC”) related to ETH, which is expected later this quarter. Assuming SEC approval of the pending OCC rules in mid-February, CBOE intends to commence trading in the ETH session on Monday, March 2, 2015 for VIX and Monday, March 9, 2015 for SPX/SPXW … Trading hours will be from 2:00 a.m. to 8:15 a.m. Central time (“CT”). …” (emphasis added).
ETH FOR VIX FUTURES – 20,266 AVG. DAILY VOLUME IN JANUARY 2015
In 2010 CBOE Futures Exchange (CFE) began offering futures on the VIX Index during select limited Extended Trading Hours. Beginning on June 22, 2014, VIX futures trading hours were expanded to nearly 24 hours a day, five days a week. The highest average daily volume for VIX futures during ETH in a month was 28,365 contracts in October 2014, and on October 15, 2014, the VIX Index closed at 26.25, its highest daily closing value in 2014.
In the year 2014 the average daily volume for VIX futures during ETH was 16,998 contacts.
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