CBOE Futures Exchange(SM) (CFE®) plans to extend CBOE Volatility Index® (VIX® Index) futures trading hours to nearly 24 hours a day, five days a week, beginning Sunday, June 22, CBOE Holdings Chief Executive officer Edward T. Tilly announced this morning at the 30th annual CBOE Risk Management Conference (RMC) in Bonita Springs, Florida.
"VIX has become a recognized proxy for global market volatility. Now VIX futures customers around the world -- including investment banks, proprietary trading firms, hedge funds, CTAs and issuers of exchange traded products - will have the ability to trade VIX futures virtually around the clock and to react immediately to events affecting global markets," CBOE Holdings CEO Edward T. Tilly said. "We have been very encouraged by the incremental volume and diverse number of users now trading VIX futures outside of regular U.S. trading hours."
Just under eight percent of the average daily volume in VIX futures was transacted outside of regular U.S. trading hours this year through February.
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.
CBOE's Tilly is one of several keynote speakers at this year's CBOE Risk Management Conference, being held from March 17 through 19. RMC is the premier educational forum for equity derivatives and volatility traders; more than 300 financial professionals have gathered in Bonita Springs, Florida to discuss the latest trends and strategies in managing risk, enhancing yields and lowering portfolio volatility. For news and updates throughout the conference, visit "RMC Live" (www.cboeoptionshub.com/rmclive/) -- RMC's social media home that contains blogs from every session, video interviews with speakers, event photos and live tweets (#CBOERMC).