* President/COO says CBOE to expand VIX product line
* Has launched 3 products based on VIX benchmarks this year
May 9 (Reuters) - CBOE Holdings Inc may soon offer trading in security futures based on volatility in Apple Inc and other individual stocks, similar to what it does with some of its exchange-traded fund (ETF) volatility benchmarks, the president of the company said on Wednesday.
The parent of the Chicago Board Options Exchange, the largest U.S. options exchange, is home of the Volatility Index , also known as the VIX, which is Wall Street's favorite barometer of sentiment.
CBOE's suite of volatility products has been an engine of growth in recent years for the exchange operator as investors embrace volatility as an asset class.
The exchange has more than two-dozen VIX benchmarks, which use real-time option prices to provide investors with a snapshot of expected volatility in various asset classes.
CBOE customers often ask the exchange to design tradable products based on some of those benchmarks, Edward Tilly, the company's president and chief operating officer, said at the UBS Global Financial Services Conference in New York.
So far this year, CBOE has introduced security futures and options on three benchmarks that monitor volatility in highly active sector-specific ETFs: the CBOE Emerging Markets ETF Volatility Index, the CBOE Brazil ETF Volatility Index, and the CBOE Crude Oil ETF Volatility Index.
Tilly said the CBOE would be expanding the VIX product line in the coming months.
"We have benchmarks on a number of other products," he said. "I would point out one that is a favorite of mine that I wouldn't be surprised if I saw us launch in the near future - futures on Apple VIX."
Early last year, CBOE created indexes that apply the CBOE Volatility Index methodology to options on five highly active individual stocks: Apple, Amazon Inc, IBM, Google Inc, and Goldman Sachs Group Inc. The benchmarks are designed to measure the expected volatility of the respective individual equities.
CBOE shares were up 0.6 percent at $25.49 on Wednesday afternoon.