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CBOE Futures
Cboe Futures Exchange (CFE®) is the home of volatility futures, featuring futures on the Cboe® Volatility Index (VIX®). CFE is owned by Cboe Global Markets and trades on CFE are cleared by The Options Clearing Corporation (OCC). CFE is an all-electronic, open access market model with dedicated market makers and market participants providing liquidity.
Currency: US Dollar (USD)
Trading Hours: 18:00 - 16:15 ET (22 hours 15 minutes) Sunday to Friday
Trading Summary
Please make sure that you familiarize yourself with the expiration dates of the different contracts and the universal month codes for them. The month codes to denote contract expiration months are universal, and can be found on the Contract Month Codes page.
PPro8 symbology for CBOE contracts:
CCC\MYY
Where
CCC = 1–3 Digit contract code
M = One-digit contract month
YY = Two-digitcontract year
For example, XBT\F18 BitCoin futures contract, January 2018 expiry
Minimum BP per contract:
BitCoin Futures: contract size/BP = as per contract price CME Bitcoin Futures: contract size/BP = price * 5
Cboe Volatility Index (VIX) Futures: contract size/BP = price * 1000
Order Types
- Limit Buy/Sell→ShortSell
- Market Buy/Sell→ShortSell
Basic Market Rules
- Lot Size: 1 contract.
- Tick Size: varies, see the Group Product Slate for more information.
- Short Sale Rules: short selling is allowed, and no mark or locates are required for shorting.
For more information, see the CME Rulebook page.
Globex Opening
Prior to the opening of each Globex session, Globex will provide an indicative price or prices, based on the Globex equilibrium price algorithm as follows, and on all pending orders that may be executed on the opening.
During the 30-second period prior to the opening, no previously entered orders may be modified or cancelled, though new orders may be entered. Globex will establish an equilibrium price that will be the opening price. The equilibrium price is the calculated price between sell pressure and buy pressure where the largest volume of trading can occur. The equilibrium price is one of the following:
- a) The price within the equilibrium that has the largest trade volume and the lowest unmatched volume at that price remaining after the opening; or
- b) If more than one price has the same trade volume and the same unmatched volume at that price, the equilibrium price is the one nearest the previous day's settlement price.
Bids and Offers will be selected for matching at the opening price based on price-time priority.