The smaller notional value of the mini contract is designed to provide additional flexibility in volatility risk management and greater precision when allocating among smaller, managed accounts, which is expected to appeal to a broad set of market participants, including Commodity Trading Advisors (CTAs), Futures Commission Merchants (FCMs), proprietary trading firms, institutional investors and sophisticated retail investors. New Mini VIX futures (ticker symbol: VXM) will be structured like the standard VIX futures contract, but will feature a $100 multiplier, making them one-tenth the size of the standard contract. The new smaller-sized contract builds on the success of VIX futures – the most actively traded, exchange-listed volatility futures contract in the world – and aims to meet investor demand for a wider variety of tools to gain direct exposure to the VIX Index, recognized as the world’s premier gauge of U.S. Exchange operator Cboe Global Markets has announced plans to launch trading in Mini Cboe Volatility Index (VIX) futures on Cboe Futures Exchange (CFE) beginning Monday, August 10, subject to regulatory review.
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