Stellar Trading Systems establishes connectivity with CFE

CBOE Futures Exchange, LLC (CFE), a subsidiary of CBOE Holdings, Inc (NASDAQ:CBOE), on Thursday announced that multi-asset trading software and services provider Stellar Trading Systems has established connectivity with CFE as an approved independent software vendor (ISV).

The new link will provide traders using Stellar Trading Systems’ platform the ability to directly interface with CFE and get access to the exchange’s menu of products, such as futures on the CBOE Volatility Index (VIX Index).

Investors are showing growing appetite for VIX products as a means to efficiently gain exposure to equity market volatility. Because of that, over the last few years, CFE has lengthened its extended trading hours in VIX futures. In 2015, the first full year of nearly 24-hour trading, VIX futures average daily volume (ADV) in extended trading hours accounted for about 9% of total VIX futures volume.

stellar-logox2In March 2016, VIX futures ADV during extended trading hours was 18,518 contracts, accounting for 10% of all CFE ADV for the month.

Andy Lowenthal, Senior Vice President, Business Development, CBOE, says,

“We are pleased to welcome Stellar Trading Systems and their customers throughout the U.S., Europe and Asia, to the CFE network. As interest in CFE’s extended trading hours initiative continues to build, we are seeing a growing number of market participants from outside the U.S. trading VIX futures around the clock. Our connectivity with the Stellar trading community will help enable CFE to expand its reach in these regions and provide even more traders around the world greater efficiency to trade and hedge with CFE’s products, including our flagship product, VIX futures.”

Steve Thomas, Managing Director, Stellar Trading Systems, says,

“CFE is renowned for its innovative futures products. We are delighted to bring our full range of products, including our Quantum Server algorithmic engine, spreadMachine and ultra-low latency ASP and API products to all within the CFE trading community.”

You can view the official announcement on the partnership by clicking here.

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