CHICAGO, November 30, 2010 - The CBOE Futures Exchange, LLC (CFE) today announced that beginning on Friday, December 10, the exchange is changing the start time for the trading of futures on the CBOE Volatility Index (VIX) from 8:30 a.m. (Chicago time) to 7:20 a.m. (Chicago time), pending regulatory approval. The closing time of 3:15 p.m. (Chicago time) for VIX futures will remain the same.
"Extended trading hours for VIX futures will give investors the ability to more efficiently mitigate risk and establish or offset positions that may be impacted by potential market-moving events such as overnight news, banking actions, or key economic reports released prior to the general market open," said Andrew Lowenthal, Managing Director, CBOE Futures Exchange.
The new 7:20 a.m. (Chicago time) opening starting time applies to VIX futures only, and market orders for VIX futures will not be accepted during extended trading hours. All other CFE products will maintain their current trading hours of 8:30 a.m. to 3:15 p.m. (Chicago time).
CFE currently offers five different contracts, including: CBOE Volatility Index (VIX) futures, Weekly options on VIX futures (VOW), CBOE mini-VIX futures (VM), CBOE S&P 500 3-Month Variance futures (VT) and CBOE S&P 500 12-Month Variance futures (VA).
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 trades are cleared by the AAA-rated Options Clearing Corporation (OCC). CBOE Futures Exchange is regulated by the Commodity Futures Trading Commission (CFTC).
More information on CFE and its products, including contract specifications, can be found at: http://cfe.cboe.com/.