*New opening trading time applies to VIX futures only
*All other CFE products to maintain current trading hours
CHICAGO, Nov 30 (Reuters) - The CBOE Futures Exchange, a subsidiary of CBOE Holdings Inc CBOE.O, said on Tuesday that it has changed the daily opening time for the trading of futures on the CBOE Volatility Index effective Dec. 10, pending regulatory approval.
VIX futures will open for daily trading at 7:20 a.m. from 8:30 a.m central time next Friday, a move that would allow investors to more efficiently manage their risk from potential market-moving events before the stock market begins trading.
The all-electronic futures exchange said the daily closing time of 3:15 p.m. central time for VIX futures stays the same.
The extension of trading hours “will give investors the ability to more efficiently mitigate risk and establish or offset positions that may be impacted by potential market-moving events such as overnight news, banking actions, or key economic reports released prior to the general market open,” CFE Managing Director Andrew Lowenthal said in a statement.
CFE said the new opening time applies to VIX futures only, and market orders for VIX futures will not be accepted during extended trading hours.
All other CFE products will maintain their current trading hours of 8:30 a.m. to 3:15 p.m. central time.
CFE currently offers five different contracts, including: CBOE Volatility Index futures, weekly options on VIX futures and CBOE S&P 500 3-Month Variance futures.
CBOE Holdings is also the parent of the Chicago Board Options Exchange, the home of the VIX, Wall Street’s favorite barometer of investor sentiment.
Reporting by Doris Frankel; Editing by Kenneth Barry