2013 Trading Volume Reaches New All-Time High At CBOE Futures Exchange

January 2, 2014

CBOE futures exchange

- Fourth Consecutive Record Year
- Over 40 Million Contracts Traded
- Several Milestones Achieved During 2013

CHICAGO, Jan. 2, 2014 /PRNewswire/ -- The CBOE Futures Exchange, LLC (CFE®) today reported  that annual trading for total exchange-wide activity and for futures on the CBOE Volatility Index® (VIX® Index) reached new all-time highs in 2013, with several other trading records set during the year.

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2013 Volume
For a fourth consecutive year, exchange-wide trading volume at CFE set a new annual record.  The 40.2 million contracts traded in 2013 was an increase of 68 percent from the 23.9 million contracts traded in 2012.  Average daily volume (ADV) at CFE also reached a new high for a fourth straight year in 2013.  The 159,498 contracts per day was 67 percent above the ADV of 95,569 contracts in 2012.  

Trading volume in VIX futures totaled 39.9 million contracts for the year, a fourth straight annual volume record, and surpassing the 23.8 million contracts traded in 2012 by 68 percent.  Average daily volume in VIX futures was 158,508 contracts, also a fourth consecutive annual record, and up 67 percent from 2012.   

CFE Monthly Volume Summary

Year-To-Date


Dec

2013

Dec

2012

% Chg

Nov

 2013

% Chg

Dec

2013

Dec

2012

% Chg

Trading Days

21

20


20


252

250


VIX Index Futures

     Total

3,195,262

2,435,618

31%

2,522,828

27%

39,944,022

23,785,831

68%

     ADV

152,155

121,781

25%

126,141

21%

158,508

95,143

67%

CFE Total Exchange

     Total

3,201,242

2,446,471

31%

2,561,432

25%

40,193,447

23,892,203

68%

     ADV

152,440

122,324

25%

128,072

19%

159,498

95,569

67%

December Trading   
December exchange-wide trading volume at CFE totaled 3.2 million contracts, an increase of 31 percent over December 2012 and an increase of 25 percent over November.  Monthly ADV during December was 152,440 contracts, an increase of 25 percent from a year ago and an increase of 19 percent from the previous month. 

2013 Volume Records and Exchange Highlights

Exchange-Wide Volume Records

Monthly Volume

4,220,447 contracts

June 2013

Monthly ADV

211,022 contracts

June 2013

Single-Day Volume

452,139 contracts

April 15, 2013

Quarterly Volume

11,510,990 contracts

Second Quarter, 2013

VIX Futures Volume Records

Monthly Volume

4,213,488 contracts

June 2013

Monthly ADV

210,674 contracts

June 2013

Single-Day Volume

449,955 contracts

April 15, 2013

Quarterly Volume

11,482,647 contracts

Second Quarter, 2013

Exchange Highlights

•      The top ten highest volume trading months in CFE history all occurred during 2013. 

•      Total exchange-wide open interest surpassed the 500,000 contract mark for the first time ever on January 16, 2013.

•      Total exchange-wide monthly volume surpassed four million contracts traded for the first time in April.

•      On June 24, the pricing method for CFE's S&P 500 Variance futures contract was revised to more closely align with OTC variance swaps.   

•      On August 2, 2013 year-to-date volume in VIX futures surpassed the total volume for all of 2012. 

•      CFE introduced extended trading hours for VIX futures on October 28 (45-minute afternoon session) and November 4 (5-hour early morning session).

•      CFE launched trading of futures on the CBOE Russell 2000 Volatility Index beginning November 18.

About CBOE Futures Exchange
CBOE Futures Exchange currently offers nine contracts: CBOE Volatility Index (VIX Index) futures (VX), Mini-VIX futures (VM), S&P 500 Variance futures (VA), CBOE NASDAQ-100 Volatility Index (VXN) futures (VN), CBOE Russell 2000 Volatility Index (RVX) futures (VU), CBOE Gold ETF Volatility Index (GVZ) security futures (GV), CBOE Crude Oil ETF Volatility Index (OVX) security futures (OV), CBOE Emerging Markets ETF Volatility Index (VXEEM) security futures (VXEM) and CBOE Brazil ETF Volatility Index (VXEWZ) security futures (VXEW).   

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 is regulated by the Commodity Futures Trading Commission (CFTC) and all trades are cleared by the OCC. 

More information on CFE and its products, including contract specifications, can be found at: http://cfe.cboe.com/.   

CBOE-EF

CBOE®, Chicago Board Options Exchange®, CFE®, CBOE Volatility Index® and VIX® are registered trademarks, and CBOE Futures ExchangeSM, CBOE Nasdaq-100 Volatility IndexSM, VXNSM, VNSM, CBOE Brazil ETF Volatility IndexSM, VXEWSM, VXEWZSM, CBOE Crude Oil ETF Volatility IndexSM, OVXSM, OVSM, CBOE Emerging Markets ETF Volatility IndexSM, VXEMSM, VXEEMSM, CBOE Gold ETF Volatility IndexSM, GVZSM, GVSM, RVXSM, VASM, VMSM, VUSM, VXSM are service marks of Chicago Board Options Exchange, Incorporated (CBOE). Russell 2000® is a registered trademark of Russell Investments, used under license. Standard & Poor's®, S&P® and S&P 500® are registered trademarks of Standard & Poor's Financial Services, LLC, and have been licensed for use by CBOE and CFE. The Nasdaq-100 Index®, Nasdaq-100®, and Nasdaq® are trademark or service marks of The Nasdaq Stock Market, Inc. (with which its affiliates are the "Corporations"). These marks are licensed for use by CBOE in connection with the trading of products based on the Nasdaq-100 Index. The products have not been passed on by the Corporations as to their legality or suitability. The products are not issued, endorsed, sold or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE PRODUCT(S).

SOURCE CBOE Futures Exchange, LLC

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