CBOE Futures Exchange Announces Launch Dates For VIX Futures Extended Trading Hours

CBOE Futures Exchange Announces Launch Dates For VIX Futures Extended Trading
                                    Hours

  PR Newswire

  CHICAGO, Sept. 30, 2013

-First Phase Begins October 21; Second Phase, October 28

CHICAGO, Sept. 30, 2013 /PRNewswire/ -- CBOE Futures Exchange, LLC (CFE®)
today announced that the first phase of its extended trading hours initiative
for CBOE Volatility Index® (VIX ® Index) futures will begin on Monday, October
21, with the second phase to follow on Monday, October 28.

(Logo: http://photos.prnewswire.com/prnh/20121022/MM97794LOGO-d )

"Volatility traders have eagerly anticipated the expansion of trading hours
for our highly successful VIX futures contract, and we are thrilled to begin
that rollout in a few weeks," CBOE Holdings Chief Executive Officer Edward T.
Tilly said. "We are pleased to provide our European customers with the
opportunity to trade VIX futures during local trading hours, but we also
believe our entire global base of VIX users will benefit by extended trading
hours."

Phase I The first phase of the extended trading hours initiative is designed
to respond to demand from both U.S. and European customers for a
post-settlement trading period by adding a 45-minute trading period to the
current trading hours for VIX futures (7:00 a.m. to 3:15 p.m.Chicago time).

  *Fifteen minutes after the 3:15 p.m. (Chicago time) close of VIX futures,
    the market will reopen for a new trading period from 3:30 p.m. to 4:15
    p.m. (Chicago time). Trading will then resume at 7:00 a.m. (Chicago time)
    the following morning.
  *The new 45-minute period, which marks the beginning of the next trading
    day, will be available from Monday through Thursday.

Phase II The second phase of the extended trading hours initiative will
benefit U.S. and European customers who are seeking longer hours for trading
in VIX futures. European-based customers will have the opportunity to trade
VIX futures during their local trading hours by beginning the current trading
session five hours earlier than its current opening time of 7:00 a.m. (Chicago
time).

With both extended trading periods in place, VIX futures trading hours will
run from 2:00 a.m. through 3:15 p.m. (Chicago time), Monday through Friday,
with the 3:30 p.m. to 4:15 p.m. (Chicago time) trading period available Monday
through Thursday. No trading is scheduled on Saturdays and Sundays in either
of the phases.

  *Trading will begin at 2:00 a.m. (Chicago time) (8:00 a.m. GMT).
  *The new five-hour period, which precedes the current trading hours, will
    be available from Monday through Friday.

The changes are subject to regulatory review.

On February 1, CFE opened a communications hub outside of London to further
expand VIX futures trading from Europe. The Hub, which connects the Equinix
facility in Slough, England to the CBOE Command Center at the Equinix facility
in New Jersey, provides European firms with an economical choice to connect to
the CFE trading system.

About CBOE Futures Exchange CBOE Futures Exchange currently offers trading in:
the CBOE Volatility Index (The VIX Index) futures (VX), Mini-VIX (VM) futures,
S&P 500 Variance (VA) futures, CBOE NASDAQ-100 Volatility Index (VXN) futures
(VN), CBOE Gold ETF Volatility Index (GVZ) security futures (GV), CBOE Crude
Oil ETF Volatility Index (OVX) security futures (OV), CBOE Emerging Markets
ETF Volatility Index (VXEEM) security futures (VXEM) and CBOE Brazil ETF
Volatility Index (VXEWZ) security futures (VXEW).

CFE, a wholly-owned subsidiary of CBOE Holdings, Inc. (NASDAQ: CBOE), offers
an all-electronic, open-access market model, with traders providing liquidity
and making markets. CFE is regulated by the Commodity Futures Trading
Commission (CFTC) and all trades are cleared by the OCC.

More information on CFE and its products, including contract specifications,
can be found at: http://cfe.cboe.com/ .

CBOE-EF

CBOE®, Chicago Board Options Exchange®, CFE®, CBOE Volatility Index® and VIX®
are registered trademarks, and CBOE Futures Exchange ^SM , CBOE Nasdaq-100
Volatility Index ^SM , VXN ^SM , VN ^SM , CBOE Brazil ETF Volatility Index ^SM
, VXEW ^SM , VXEWZ ^SM , CBOE Crude Oil ETF Volatility Index ^SM , OVX ^SM ,
OV ^SM , CBOE Emerging Markets ETF Volatility Index ^SM , VXEM ^SM , VXEEM ^SM
, CBOE Gold ETF Volatility Index ^SM , GVZ ^SM , GV ^SM , VA ^SM , ^ VM ^SM
and VX ^SM are service marks of Chicago Board Options Exchange, Incorporated
(CBOE). Standard & Poor's®, S&P® and S&P 500® are registered trademarks of
Standard & Poor's Financial Services, LLC, and have been licensed for use by
CBOE and CFE. The Nasdaq-100 Index®, Nasdaq-100®, and Nasdaq® are trademark or
service marks of The Nasdaq Stock Market, Inc. (with which its affiliates are
the "Corporations"). These marks are licensed for use by CBOE in connection
with the trading of products based on the Nasdaq-100 Index. The products have
not been passed on by the Corporations as to their legality or suitability.
The products are not issued, endorsed, sold or promoted by the Corporations.
THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE
PRODUCT(S).

Website: http://cfe.cboe.com
Contact: Media Contacts: Gail Osten, (312) 786-7123, osten@cboe.com, or Gary
Compton, (312) 786-7612, comptong@cboe.com, or Analyst Contact: Debbie
Koopman, (312) 786-7136, koopman@cboe.com
 
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