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CBOE Futures Exchange, LLC (CFE®) today reported that August 2014 was the busiest month all-time for average daily volume and total trading volume, both exchange-wide at CFE and for futures on the CBOE Volatility Index® (VIX® Index).
VIX Futures
Average daily volume in VIX futures was a record 216,996 contracts during August, an increase of 37 percent from August 2013 and an increase of 10 percent from July 2014. August's record ADV surpassed the previous record ADV of 216,797 contracts in February 2014. Total volume in VIX futures reached a new all-time high during August with 4.56 million contracts, up 31 percent from August 2013 and up five percent from July 2014. August's record total volume topped the previous record of 4.40 million contracts in January 2014.
|
CFE Monthly Volume Summary |
Year-To-Date |
|||||||
|
August |
August |
% Chg |
July |
% Chg |
August 2014 |
August 2013 |
% Chg |
|
|
Trading Days |
21 |
22 |
22 |
167 |
168 |
|||
|
VIX Index Futures |
||||||||
|
Total |
4,556,926 |
3,488,149 |
31% |
4,333,778 |
5% |
31,683,648 |
27,073,242 |
17% |
|
ADV |
216,996 |
158,552 |
37% |
196,990 |
10% |
189,722 |
161,150 |
18% |
|
CFE Total Exchange |
||||||||
|
Total |
4,566,239 |
3,527,672 |
29% |
4,342,089 |
5% |
31,733,868 |
27,248,433 |
16% |
|
ADV |
217,440 |
160,349 |
36% |
197,368 |
10% |
190,023 |
162,193 |
17% |
Total CFE
New records were also set in exchange-wide ADV and total volume during August. Exchange-wide ADV was 217,440 contracts, a 36-percent increase from a year ago and a 10-percent increase from July 2014. The record ADV in August surpassed the previous record ADV of 217,029 contracts in February 2014. Exchange-wide total volume during the month was 4.57 million contracts, a 29-percent increase from August 2013 and a five-percent increase from July 2014. August's record total volume topped the previous record of 4.41 million contracts in January 2014.
VIX Futures 24-Hour Trading
In August, trading volume in VIX futures outside of regular U.S. trading hours averaged 21,748 contracts per day, accounting for approximately 10 percent of CFE's total daily volume.
On June 22, CFE expanded VIX futures trading hours to nearly 24 hours a day, five days a week. The trading week for VIX futures at CFE now begins each Sunday at5:00 p.m. CT and ends each Friday at 3:15 p.m. CT. Monday through Thursday, CFE closes for 15 minutes at 3:15 p.m. CT before the "new" trading day begins at 3:30 p.m. CT. After Friday's 3:15 p.m. CT close, CFE remains closed until the start of the new trading week at 5:00 p.m. CT on Sunday. See CFE Regulatory Circular RG14-017 for additional information.
