CHICAGO , Sept. 30, 2013 /PRNewswire/ -- CBOE Futures Exchange, LLC (CFE ®) today announced that the first phase of its extended trading hours initiative for CBOE Volatility Index ® (VIX ® Index) futures will begin on Monday, October 21, with the second phase to follow on Monday, October 28.
"Volatility traders have eagerly anticipated the expansion of trading hours for our highly successful VIX futures contract, and we are thrilled to begin that rollout in a few weeks," CBOE Holdings Chief Executive Officer Edward T. Tilly said. "We are pleased to provide our European customers with the opportunity to trade VIX futures during local trading hours, but we also believe our entire global base of VIX users will benefit by extended trading hours."
Phase I The first phase of the extended trading hours initiative is designed to respond to demand from both U.S. and European customers for a post-settlement trading period by adding a 45-minute trading period to the current trading hours for VIX futures ( 7:00 a.m. to 3:15 p.m. Chicago time).
- Fifteen minutes after the 3:15 p.m. ( Chicago time) close of VIX futures, the market will reopen for a new trading period from 3:30 p.m. to 4:15 p.m. ( Chicago time). Trading will then resume at 7:00 a.m. ( Chicago time) the following morning.
- The new 45-minute period, which marks the beginning of the next trading day, will be available from Monday through Thursday.
- Trading will begin at 2:00 a.m. ( Chicago time) ( 8:00 a.m. GMT).
- The new five-hour period, which precedes the current trading hours, will be available from Monday through Friday.
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