VIX Futures Average Daily Volume Sets New Record In February

- Up 35% Over Year Ago

- New Short-Term VIX Futures Launched

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Mar 03, 2014, 03:28 ET

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 Index^SM (VXST^SM).

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 Index^SM (VXST^SM). 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 Exchange^SM, CBOE Short-Term Volatility Index^SM, CBOE Nasdaq-100 Volatility Index^SM, VXN^SM, VN^SM, CBOE Brazil ETF Volatility Index^SM, VXEW^SM, VXEWZ^SM, CBOE Crude Oil ETF Volatility Index^SM, OVX^SM, OV^SM, CBOE Emerging Markets ETF Volatility Index^SM, VXEM^SM, VXEEM^SM, CBOE Gold ETF Volatility Index^SM, GVZ^SM, GV^SM, Execute Success^SM, SPX^SM, RVX^SM, VA^SM, VU^SM, VX^SM , VXST^SM and Weeklys^SM 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.