CHICAGO, April 2, 2018 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE | Nasdaq: CBOE), one of the world's largest exchange holding companies, today kicked off a month-long celebration of the 25th anniversary of the Cboe Volatility Index® (VIX® Index), which Cboe began publishing in April 1993.
The VIX Index, which measures the market's expectation of future volatility, quickly became the premier measure of U.S. equity market volatility, widely followed and frequently quoted by investors, institutions and media around the world. Throughout April, Cboe will celebrate the 25th anniversary of this revolutionary concept with special content and stories -- from the creation of the VIX Index to the development and growth of VIX options and futures trading.
"The VIX Index is one of the most significant innovations of the modern financial marketplace. It was an extraordinary concept that, because of its utility, quickly became a practical component of portfolio management," said Ed Tilly, Chairman and Chief Executive Officer of Cboe. "In 25 years, it has grown to become the world's accepted measure of market volatility, an index like no other, relied upon by investors of every stripe."
Cboe subsequently launched VIX futures in 2004 and VIX options in 2006. Since then, VIX products have evolved from a market that was the domain of niche professionals to one that provides investors all over the world with the tools to hedge portfolios against market downturns, manage portfolio risk and smooth out volatility, buffer the effects of geopolitical turmoil and other applications. In 2017, both VIX options and VIX futures set new annual trading volume records, with combined volume totaling more than 255 million contracts.
Highlights of this month's VIX anniversary celebration include:
- The publication of a definitive new VIX paper, "Cboe Volatility Index (VIX®) Index Rules & Methodology," that includes information related to the governance and oversight framework for the VIX Index
- The planned launch of a redesigned VIX webpage, with new content to be added throughout the month
- A social media campaign that captures the history and evolution of the VIX Index, VIX options and VIX futures
- And other VIX related news and surprises
About Cboe Global Markets, Inc.
Cboe Global Markets, Inc. (Cboe: CBOE | Nasdaq: CBOE) is one of the world's largest exchange holding companies, offering cutting-edge trading and investment solutions to investors around the world. The company is committed to relentless innovation, connecting global markets with world-class technology, and providing seamless solutions that enhance the customer experience.
Cboe offers trading across a diverse range of products in multiple asset classes and geographies, including options, futures, U.S. and European equities, exchange-traded products (ETPs), global foreign exchange (FX) and multi-asset volatility products based on the Cboe Volatility Index (VIX Index), the world's barometer for equity market volatility.
Cboe's trading venues include the largest options exchange in the U.S. and the largest stock exchange by value traded in Europe. In addition, the company is the second-largest stock exchange operator in the U.S. and a leading market globally for ETP trading.
The company is headquartered in Chicago with offices in Kansas City, New York, London, San Francisco, Singapore, Hong Kong and Quito, Ecuador. For more information, visit www.cboe.com.
Cboe®, Cboe Volatility Index® and VIX® are registered trademarks and Cboe Global MarketsSM, is a service mark of Cboe Exchange, Inc. All other trademarks and service marks are the property of their respective owners.
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SOURCE Chicago Board Options Exchange