Stellar Trading Systems Establishes Connectivity with CBOE Futures Exchange
The new link will provide traders using Stellar Trading Systems’ platform the ability to directly interface with CFE and gain access to the exchange’s suite of products, including futures on the CBOE Volatility Index® (VIX® Index).
“We are pleased to welcome Stellar Trading Systems and their customers throughout the U.S., Europe and Asia, to the CFE network,” said Andy Lowenthal, Senior Vice President, Business Development, CBOE. “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, stated that, “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.”
Stellar Trading Systems specializes in producing fast and powerful trading systems for the high-frequency, high-volume trader. Stellar provides a complete trading system solution with an intuitive front end, comprehensive order and risk management, offering industry-leading performance. The company has a global client base serviced by offices in Europe, Asia and the U.S.
Overseas investors are increasingly embracing VIX products as a means to efficiently gain exposure to equity market volatility. As a result, over the last few years, CFE has lengthened its extended trading hours in VIX futures to accommodate customer requests for longer trading sessions outside of non-U.S. trading hours, providing greater ease of access to global customers. In 2015, the first full year of nearly 24-hour trading, VIX futures average daily volume (ADV) in extended trading hours represented approximately 9 percent of total VIX futures volume. In March 2016, VIX futures ADV during extended trading hours was 18,518 contracts, representing 10 percent of all CFE ADV for the month.
About CBOE Futures Exchange
CBOE Futures Exchange, LLC (CFE) offers contracts on CBOE Volatility Index (VIX Index) futures (VX), S&P 500 Variance futures (VA), CBOE/CBOT 10-year U.S. Treasury Note Volatility Index (TYVIX) futures (VXTY) and CBOE Russell 2000 Volatility Index (RVX) futures (VU).
VIX futures are available for trading nearly 24 hours a day, five days a week at CFE, beginning Sunday at 5:00 p.m. CT and ending Friday at 3:15 p.m. CT. CFE closes for 15 minutes between 3:15 p.m. CT and 3:30 p.m. CT, Monday through Thursday, after which the next trading day begins at 3:30 p.m. CT. For additional details on extended trading hours, see www.cboe.com/ETH.
CFE, an all-electronic market, is a wholly-owned subsidiary of CBOE Holdings, Inc. (NASDAQ: CBOE). CFE is regulated by the Commodity Futures Trading Commission (CFTC) and all trades are cleared by OCC. More information on CFE and its products, including contract specifications, can be found at: http://cfe.cboe.com/.