The CBOE Futures Exchange, LLC (CFE®) today reported that July 2014 was the second-busiest month all-time for total trading volume exchange-wide at CFE and for futures on the CBOE Volatility Index® (VIX® Index).
VIX Futures
Average daily volume in VIX futures was 196,990 contracts during July, an increase of 48 percent from July 2013 and an increase of 13 percent from June 2014. Total volume in VIX futures during July was 4.33 million contracts, up 48 percent from July 2013 and up 19 percent from June 2014. July's total volume stands as the second most-active month all-time, trailing only the 4.4 million contracts in January 2014.
CFE Monthly Volume Summary |
Year-To-Date |
|||||||
July |
July |
% |
June |
% |
July |
July |
% |
|
Trading Days |
22 |
22 |
21 |
146 |
146 |
|||
VIX Index Futures |
||||||||
Total |
4,333,778 |
2,921,386 |
48% |
3,651,762 |
19% |
27,126,722 |
23,585,093 |
15% |
ADV |
196,990 |
132,790 |
48% |
173,893 |
13% |
185,799 |
161,542 |
15% |
CFE Total Exchange |
||||||||
Total |
4,342,089 |
2,965,509 |
46% |
3,657,036 |
19% |
27,167,629 |
23,720,761 |
15% |
ADV |
197,368 |
134,796 |
46% |
174,145 |
13% |
186,080 |
162,471 |
15% |
Total CFE
Exchange-wide ADV during July was 197,368 contracts, a 46-percent increase from a year ago and a 13-percent increase from June 2014. Exchange-wide total volume during the month was 4.34 million contracts, a 46-percent increase from July 2013 and a 19-percent increase from June 2014. In terms of total volume, July ranks as the second-busiest month all-time, trailing only the 4.4 million contracts traded in January 2014.
VIX Futures 24-Hour Trading
In July, the first full month of nearly 24-hour trading in VIX futures, volume outside of regular U.S. trading hours averaged more than 19,000 contracts per day, accounting for approximately 10 percent of CFE's total daily volume.
On August 1, CFE reported record trading volume in VIX futures during non-U.S. trading hours, with an estimated 68,033 contracts changing hands overnight. Today's record surpassed the previous record in non-U.S. trading hours of 59,505 contracts set on July 10, 2014.
On June 22, CFE expanded VIX futures trading hours to nearly 24 hours a day, five days a week. The trading week for VIX futures at CFE now begins each Sunday at5:00 p.m. CT and ends each Friday at 3:15 p.m. CT. Monday through Thursday, CFE closes for 15 minutes at 3:15 p.m. CT before the "new" trading day begins at 3:30 p.m. CT. After Friday's 3:15 p.m. CT close, CFE remains closed until the start of the new trading week at 5:00 p.m. CT on Sunday. See CFE Regulatory Circular RG14-017 for additional information.