The CBOE Futures Exchange, LLC (CFE) and Patsystems today announced that Patsystems will offer connectivity to the CFE. The connectivity is expected to be effective on March 16, 2007 and will provide Patsystems' customers with access to all CFE products, including futures on the CBOE Volatility Index (VIX), CBOE DJIA Volatility Index (VXD), CBOE S&P 500 Three- and Twelve-Month Variance, and CBOE S&P 500 BuyWrite Index. With the addition of Patsystems, access to the CFE will be greatly expanded. As required by CFE rules, all access to CFE must be through a CFE Trading Privilege Holder.
"We are extremely pleased to offer our customers connectivity to the CFE. The decision to connect was led by customer demand and those customers can now take advantage of this extension of Patsystems' global reach," said Patrick Kenny, Patsystems Managing Director, North America.
"CFE has seen a remarkable increase in volume as volatility has become a globally traded asset class and demand for exchange-traded volatility products has surged. Connecting CFE to Patsystems' widely-used and highly-regarded system will allow us to broaden our reach to the volatility trading community and will provide Patsystems' clients access to the unique products available only on the CBOE Futures Exchange," said Andrew Lowenthal, CFE Managing Director.
During 2006, volume on CFE increased 170% from the previous year. In February 2007, CFE volume totaled 46,802 contracts, with average daily volume of 2,463 contracts, up 127% over the same period a year ago. Open interest at the end of February stood at 39,575 contracts, up 83% over the end of February 2006.
About CBOE Futures Exchange
The CFE is a wholly-owned subsidiary of Chicago Board Options Exchange, Incorporated, offering an all-electronic, open access market model, with traders providing liquidity and making markets.CFE trades are cleared by triple-A rated Options Clearing Corporation (OCC). CBOE Futures Exchange is regulated by the Commodity Futures Trading Commission (CFTC). More information on CFE and its products, including contract specifications, can be found at: http://www.cboe.com/CFE.
About Patsystems
Patsystems delivers tailored solutions, built from modular components, to enhance derivatives trading performance and trade processing. We work in partnership with our customers to deliver robust systems that align with their business strategies. Our solutions can range from a plug-and-play module to address a specific issue, to complete high-performance trading systems with global market access. Patsystems operates from a global network of offices covering all major derivatives trading centres. Our shares are traded on the London Stock Exchange's Alternative Investment Market (AIM). http://www.patsystems.com/
