CFE extends trading hours for VIX Futures

By Reuters
Posted Nov. 30, 2010 at 5:27 p.m.

The CBOE Futures Exchange, a subsidiary of CBOE Holdings Inc., said on Tuesday that it has changed the daily opening time for the trading of futures on the CBOE Volatility Index. VIX effective Dec. 10, pending regulatory approval.

VIX futures will open for daily trading at 7:20 a.m. from 8:30 a.m central time next Friday, a move that would allow investors to more efficiently manage their risk from potential market-moving events before the stock market begins trading.

The all-electronic futures exchange said the daily closing time of 3:15 p.m. central time for VIX futures stays the same.

The extension of trading hours “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,” CFE Managing Director Andrew Lowenthal said in a statement.

CFE said the new opening 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. central time.

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CBOE Holdings

CBOE Holdings Inc. claims it is the largest option exchange in the United States. The company, in addition to its core options trading business, provides marketplaces for trading futures contracts...

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