Exchange holding company Cboe Global Markets, Inc. announced that trading in its newly launched Mini Cboe Volatility Index (Mini VIX) futures surpassed the 100,000-contract mark for the first time. On Thursday, 27 August, the daily volume for the Mini VIX reached 117,814 contracts.
The Mini VIX (VXM) was launched on Cboe Futures Exchange (CFE) on 9 August. In the first 14 trading days, the volumes reached more than 521,000 contracts with average daily volume (ADV) of 37,000 contracts. The numbers reflected the strong interest of market participants in the global trading community.
Arianne Criqui, Head of Derivatives and Global Client Services at Cboe, commented:
We are excited to reach a significant milestone this week with Mini VIX futures. We are also encouraged by the traction the contract is building, not only in strong trading volume and excellent market quality and liquidity, but also in the growing adoption of Mini VIX futures by a diverse mix of market participants, including proprietary trading firms and brokerages, as well as market makers and commodity trading advisors. These are very early days, and we expect participation to continue to grow as more customers learn about the contract’s versatility in providing opportunities to manage risk, generate alpha and diversify their portfolios.