The CBOE Futures Exchange, LLC (CFE) today announced that trading volume during March 2009 totaled 50,271 contracts, an increase of 22 percent from 41,051 contracts traded during February 2009. Average daily volume during the month of March 2009 was 2,285 contracts, six percent above the previous month when 2,160 contracts per day changed hands.
When compared to year-ago, March 2009 total volume was down 54 percent from 108,812 contracts traded in March 2008, the busiest March in CFE's six-year history. Average daily volume during the month was off 58 percent versus 5,441 contracts per day during March 2008.
March 2009 volume in VIX futures, based on the CBOE Volatility Index (ticker VX), totaled 47,446 contracts, sixteen percent above 40,764 VX contracts traded during the previous month, but 52 percent below 98,351 contracts traded in March 2008. March's average daily volume in VIX futures was 2,157 contracts, 1 percent over February's 2,145 contracts per day, but down 56 percent when compared to 4,918 VX futures contracts per day from a year-ago.
CBOE
Futures Exchange March 2009 Volume Summary |
|||||
---|---|---|---|---|---|
March 2009 Volume 22 trading days |
% Change vs Mar2008 20 trading days |
% Change vs Feb 2009 19 trading days |
Year-To Date Volume 61 trading days |
% Change vs 2008 61 trading days |
|
Exchange |
50,271 |
-54% |
+22% |
132,732 |
-54% |
Average Daily Volume |
2,285 |
-58% |
+6% |
2,176 |
-54% |
On March 2, CFE launched trading in CBOE mini-VIX futures (ticker symbol VM), a contract that is one-tenth the size of CFE's standard CBOE VIX futures contract. In its first month of trading, a total of 2,165 contracts traded.
The new cash-settled CBOE mini-VIX futures contracts list April, May and June serial futures months, which coincide with CBOE's S&P 500 nearby options months. The new, smaller contract features a $100 multiplier versus $1,000 for the larger VIX futures contract, with a minimum price movement (tick) of $5 per contract.Additional information on mini-VIX futures can be found at: http://cfe.cboe.com/Products/Products_VM.aspx.
CFE currently offers futures on six different contracts, including: the CBOE Volatility Index (VIX), CBOE DJIA Volatility Index (VXD), CBOE Russell 2000 Volatility Index (RVX) and CBOE S&P 500 3-Month and 12-Month Variance (VT and VA, respectively).
CFE, launched in March 2004, is a wholly owned subsidiary of Chicago Board Options Exchange, Incorporated, offering an all-electronic, open-access market model, with traders providing liquidity and making markets. CFE trades are cleared by the triple-A-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: www.cboe.com/CFE.