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Trading volume in VIX futures reaches new all-time high for third consecutive month

March 2013 was the third consecutive month in which total volume in futures on the CBOE Volatility Index (VIX) and total exchange-wide trading reached new all-time highs.

 
A record 3,220,977 VIX futures contracts traded during March, exceeding the 3,062,344 contracts traded in February, the previous record, by five per cent.
 
February and March are the first two months in CFE history to register more than three million VIX futures contracts traded. When compared to the 1,963,893 contracts traded a year ago, March's volume rose by 64 per cent.
 
Monthly average daily volume (ADV) in VIX futures during March was 161,049 contracts, topping the 89,268 contracts per day in March 2012 by 80 per cent and was essentially unchanged from February's record ADV of 161,176 contracts.
 
For a third straight month, total volume at CFE set a new record as 3,228,874 contracts traded. March's volume was an increase of 64 per cent from the March 2012 volume of 1,971,563 contracts and a gain of five per cent from the 3,087,775 contracts traded during February, the previous high. March marked the second consecutive month that total volume at CFE exceeded three million contracts traded.
 
Exchange-wide monthly ADV during March was 161,444 contracts, up 80 per cent from March 2012 ADV of 89,617 contracts and down just one per cent from the record ADV of 162,514 contracts in February.
In VIX futures trading, total volume for the first quarter of 2013 was a record 9,181,060 contracts, surpassing the previous high of 7,613,774 total contracts during the fourth quarter of 2012 by 21 per cent and up 123 per cent from the 4,111,148 contracts traded during the first quarter of 2012. VIX futures ADV during the first quarter was a record 153,018 contracts, compared with 122,803 contracts in the previous quarter (4Q 2012) and 66,309 contracts in the same quarter from a year ago (1Q 2012).
 
Exchange-wide, total volume for the first quarter of 2013 was a new high of 9,244,262 contracts, a fifth consecutive record quarter. The trading volume during the three months from January through March surpassed the previous high of 7,640,062 total contracts during the fourth quarter of 2012 by 21 per cent and gained 124 per cent from the 4,123,587 contracts traded during the first quarter of 2012. ADV during the first quarter was a record 154,071 contracts, compared with 123,227 contracts in the previous quarter (4Q 2012) and 66,509 contracts in the same quarter from a year ago (1Q 2012).
 
On 1 February, CFE's London Hub became operational. The Hub is a cross connection (telephone switch and communication lines) from the Equinix facility in England to the CBOE Command Center at the Equinix facility in New Jersey.
 

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