The CBOE Futures Exchange, LLC (CFE) announced that volume today, the first day of trading, was robust, with 449 contracts changing hands. CFE is a new, all-electronic, futures exchange offering futures on the CBOE Volatility Index (VIX).
VIX futures (ticker symbol VX) are based on the CBOE Volatility Index, which was first introduced in 1993 and quickly became the benchmark index of market sentiment. Derived from real-time S&P 500 Index option prices, VIX is designed to reflect investors' consensus view of expected stock market volatility over the next 30 days.
CFE, a wholly-owned subsidiary of Chicago Board Options Exchange, Incorporated, is a new, all-electronic exchange, using CBOEdirect as the trading platform. CFE trades are cleared by the triple-A rated Options Clearing Corporation (OCC).