2014

VIX Futures Average Daily Volume Sets New Record In February - Up 35% Over Year Ago

- New Short-Term VIX Futures Launched

CHICAGO, March 3, 2014 /PRNewswire/ -- The CBOE Futures Exchange, LLC (CFE®) today reported  that average daily volume (ADV) in futures on the CBOE Volatility Index® (VIX® Index) and total exchange-wide ADV at CFE reached record levels in February 2014.  Also during the month, the exchange launched trading of futures on the CBOE Short-Term Volatility IndexSM (VXSTSM).

VIX Futures

Average daily volume in VIX futures reached a new record of 216,797 contracts during February, a 35-percent increase from February 2013 and a three-percent increase from January.  February's ADV topped the previous ADV record of 210,674 contracts in June 2013.  February trading volume in VIX futures totaled 4.12 million contracts, a 35-percent increase from February 2013.  When compared to January, which experienced record volume and had two additional trading days, February volume decreased six percent.      

CFE Monthly Volume Summary

Year-To-Date


Feb

2014

Feb

2013

% Chg

 Jan 2014

% Chg

Feb 

2014

Feb

2013

% Chg

Trading Days

19

19


21


40

40


VIX Index Futures

     Total

4,119,148

3,062,344

35%

4,401,826

-6%

8,520,974

5,960,083

43%

     ADV

216,797

161,176

35%

209,611

3%

213,024

149,002

43%

CFE Total Exchange

     Total

4,123,545

3,087,775

34%

4,407,071

-6%

8,530,616

6,015,388

42%

     ADV

217,029

162,514

34%

209,861

3%

213,265

150,385

42%

Total CFE

Exchange-wide ADV during February was a new high of 217,029 contracts, a 34-percent increase from a year ago and a three-percent increase from January.  February's ADV surpassed the previous monthly ADV record of 211,022 contracts in June 2013.  Exchange-wide total volume during the month was 4.12 million contracts, a 34-percent increase from February 2013.  When compared to January, which experienced record volume and had two additional trading days, February volume decreased six percent.      

Futures on CBOE Short-Term Volatility Index Launched

On February 13, CBOE Futures Exchange launched trading of futures with weekly expirations on the CBOE Short-Term Volatility IndexSM (VXSTSM).  Like CBOE's flagship CBOE Volatility Index (VIX), the "Short-Term VIX" Index reflects investors' consensus view of expected stock market volatility using CBOE's proprietary VIX methodology.  The VIX Index uses S&P 500 Index (SPX) monthly options in its calculation to measure expectations of 30-day volatility, while the VXST Index uses SPX options that expire every week (including SPX Weeklys) to gauge expectations of nine-day volatility.  The VXST Index's shorter time horizon makes it particularly responsive to short-term volatility triggered by market events such as corporate earnings, government reports and Fed announcements. For information on CBOE Short-Term Volatility Index futures, see www.cboe.com/VXSTms/.  

About CBOE Futures Exchange

CBOE Futures Exchange currently offers nine contracts: CBOE Volatility Index (VIX Index) futures (VX), CBOE Short-Term Volatility Index (VXST) futures, S&P 500 Variance futures (VA), CBOE NASDAQ-100 Volatility Index (VXN) futures (VN), CBOE Russell 2000 Volatility Index (RVX) futures (VU), 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. (NASDAQ: 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 ExchangeSM, CBOE Short-Term Volatility IndexSM, CBOE Nasdaq-100 Volatility IndexSM, VXNSM, VNSM, CBOE Brazil ETF Volatility IndexSM, VXEWSM, VXEWZSM, CBOE Crude Oil ETF Volatility IndexSM, OVXSM, OVSM, CBOE Emerging Markets ETF Volatility IndexSM, VXEMSM, VXEEMSM, CBOE Gold ETF Volatility IndexSM, GVZSM, GVSM, Execute SuccessSM, SPXSM, RVXSM, VASM, VUSM, VXSM , VXSTSM and WeeklysSM 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.

Logo - http://photos.prnewswire.com/prnh/20121022/MM97794LOGO-d

SOURCE CBOE Futures Exchange, LLC



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