Cboe to Launch Options on Front-Month VIX Futures

Expansion of VIX Complex Aims to Address Global Demand for Hedging Tools

Options on future contracts will provide greater flexibility and precision for VIX trading

Cboe Global Markets, Inc. (BATS: CBOE), the world's leading derivatives and securities exchange network, today announced plans to launch options on Cboe Volatility Index (VIX) futures contracts. The expansion of the VIX complex aims to address global demand for hedging tools and provide greater flexibility and precision for VIX trading.

The VIX Index is a financial benchmark designed to be an up-to-the-minute estimate of expected volatility of the S&P 500 Index (SPX) over the next 30 days. The VIX Index is based on real-time prices of options on the SPX and is designed to reflect investors' expectations of future volatility.

The new options on front-month VIX futures will be cash-settled contracts that will expire on the third Friday of each month. The options will be available for trading on Cboe Futures Exchange (CFE) and will be cleared through Cboe Clearing Corporation.