EQS-News: Cboe Global Markets, Inc.
Cboe Futures Exchange LLC (CFE) and Cboe Options Exchange (C1) implemented the following changes to the Cboe Volatility Index (VIX) options and Mini Cboe Volatility Index (VXM) futures:
CFE reduced the minimum increment for VXM futures from 0.05 index points (which has a value of $5 per contract) to 0.01 index points (which has a value of $1 per contract). This minimum increment applies with respect to single-leg VXM futures transactions executed through CFE’s trading system. The current minimum increments for VXM futures for the individual legs and net prices of spread trades (0.01 index points), for Exchange of Contract for Related Position (ECRP) transactions (0.005 index points) and for Block Trades (0.005 index points) will remain at their existing levels.
Specifically, CFE has modified the minimum tick size for electronic and verbal bids and offers on single-leg quotes and orders in VIX options as follows:
The net price on orders and verbal quotes for complex orders in VIX options of any ratio, as well as for all single-leg and complex AIM orders and auction responses, will remain at $0.01 regardless of price level.
Minimum Electric Quote Size Requirement
C1 requires a minimum size on electronic market-maker quotes in VIX options, as follows:
Cboe notes that the initial minimum electronic quote size requirement will remain at one contract in all other classes, except for symbol SPX (but not SPXW) during RTH, the initial minimum quote size requirements for which are available here.
Cboe also notes that the changes described in this notice will not impact VIXW, which will continue to be quoted in $0.01 increments and will continue to have an initial minimum electronic quote size of one contract.
Testing Opportunities And Additional Information
This functionality is currently available for testing in the C1 and CFE certification environments. Please contact firstname.lastname@example.org for regulatory questions or the Cboe Trade Desk for support or with any other questions.
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29.11.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
Cboe Global Markets, Inc.
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