CBOE to extend trading hours of VIX and SPX to almost 24 hours in push for Euro and Asian markets

Karthik Subramanian

CBOE Global Markets Inc, one of the largest market operators, has announced that it plans to extend the global trading hours for S&P Index (SPX) options and Cboe Volatility Index (VIX) from November 21, 2021, to almost 24 hours, subject to regulatory approvals.

CBOE LIVEVOL

The company says that this extension is since the popularity of these instruments has been growing globally over the years and hence the company finds a need to extend the trading hours to cater to the growing market. The existing users would also be able to execute trades round the clock which will also help to boost the trading volumes.

“The launch of our extended GTH session comes at an exciting time as Cboe continues to grow as a global markets operator and enter new markets, asset classes, and regions around the world,” said Arianne Criqui, Senior Vice President, Head of Derivatives and Global Client Services at Cboe Global Markets. “The extended GTH session is designed to be aligned to further expand investor access to our markets and meet global customer demand for SPX and VIX options to help hedge positions and potentially capitalize on changes in volatility well before and after regular U.S. trading hours.”

SPX and VIX options are currently available in a GTH session that runs from 3:00 a.m. ET to 9:15 a.m. ET. The planned expanded GTH session would begin at 8:15 p.m. ET and run until 9:15 a.m. ET the following morning. The regular trading hours would also be extended by 30 mins from September 27, 2021 subject to regulatory approvals to give more time for the options to be open alongside their related futures products. This would help in market stability.

The extension of these trading hours is in line with the launch of Cboe Europe Derivatives and its planned acquisition of Chi-X Asia Pacific which would give it coverage of the European and the Asian market hours and this extension would help to complement these developments. These two regions are expected to bring in more users and trading volume and the extension would serve to be more attractive for these markets as these two instruments have been the most traded instruments across the world for many years. While VIX is used to hedge portfolio risk, SPX normally provides exposure to the equity indices in the US for those investors who are within and outside the US as well.

Read this next

Digital Assets

Russia to legalize cryptocurrency payments as sanctions bite

Russia could soon be the latest country to lay down ground rules for legalizing cryptocurrencies as a means of payment, a sign that governments around the world are realizing that digital assets are here to stay.

Institutional FX

XTX Markets UK reports lackluster results for 2021

The UK business of XTX Markets, a non-bank FX liquidity provider and market maker, has reported its financials for the fiscal year ending December 31, 2021. The report showed downbeat metrics after seeing revenues and customer activity drop as the pandemic trading boom fizzled out.

Digital Assets

Binance in talks with BaFin to get license in Germany

Changpeng Zhao (CZ), founder and CEO of Binance has confirmed that they are in talks with Germany’s regulators to secure a local crypto license.

Retail FX

German broker NAGA Group reports strong financial results

NAGA Group, a provider of brokerage services, cryptocurrency platform NAGAX and neo-banking app NAGA Pay, announced the preliminary financial results for April 2022, which beat analysts’ forecasts.

Executive Moves

Talos announces key hires after raising $105m to expand institutional crypto platform

Talos has seen institutional trading volume explode over 20 times year-over-year and was in need of funding to keep scaling the platform and expand into APAC and Europe, as well as to expand its product lines, including pre and post-trade tools.

Industry News

LSEG agrees to acquire MayStreet to enhance Data & Analytics division

“Adding MayStreet’s low latency domain expertise to our existing capabilities enables us to bring increased value to customers’ electronic trading workflows across a number of use cases, including quantitative modelling, research and programmatic trading.”

Digital Assets

IDEG launches arbitrage solution for crypto investors looking for “de-risk option”

Risk and uncertainty levels are at all-year highs and IDEG points to arbitrage as a way to provide a lower-risk strategy with no delta exposure.

Digital Assets

DoraHacks raises $20m from FTX, Liberty City, Circle, Gemini, Crypto.com, more

DoraHacks partners with several web3 ecosystems, including Solana, Polygon, and Avalanche to provide access to the global developer community and has been driving key research.

Interviews

AC Interview – Neil Swanepoel, Sales Development Representative

One of the biggest challenges faced by brokers is finding the best tools/methods to attract and convert new traders. With trading becoming increasingly more popular among Gen Z, it is this young group of up and coming traders that hold the most potential for brokers. To help better understand this unique demographic we spoke to Autochartist Sales Manager and new trader Neil Swanepoel. 

<