CBOE to expand VIX futures trading hours starting on June 22

CHICAGO, March 18 Tue Mar 18, 2014 10:41am EDT

CHICAGO, March 18 (Reuters) - CBOE Holdings Inc said on Tuesday it will launch nearly around-the-clock trading for futures on its Volatility Index, starting on June 22.

The increase to trading 23 hours and 45 minutes a day, Monday through Friday, from 14 hours a day, will allow Chicago-based CBOE to capture more of the Asian trading day.

The company, which owns the CBOE Futures Exchange and the Chicago Board Options Exchange, had previously announced plans for nearly non-stop trading without giving a start date. Its Volatility Index, also known as the VIX, is a widely followed gauge that measures investor sentiment.

Pending regulatory review, the trading week for VIX futures will begin each Sunday at 5:00 p.m. CT (2200 GMT) and end on Friday at 3:15 p.m. CT (2015 GMT), according to a news release The market will close for 15 minutes between 3:15 p.m. CT (2015 GMT) and 3:30 p.m. CT (2030 GMT) on Monday through Thursday, when no trading will be transacted. The new trading day on those days will then begin at 3:30 p.m. CT (2030 GMT).

Last year, CBOE added 5 hours and 45 minutes to the trading cycle to boost European trading.

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