The CBOE Futures Exchange, LLC (CFE) has reported that total exchange open interest stood at 31,433 contracts at the close of trading on Wednesday, April 12.
This marked the first time ever that open interest has surpassed the 30,000-contract level at CFE. Open interest in futures on the CBOE Volatility Index, VIX, also reached a new high on Wednesday, April 12 of 29,921 contracts. Open interest refers to the number of outstanding contracts in the exchange market or in a particular contract.
During March, volume at CFE totaled 23,318 contracts, an increase of 34% over March 2005. At months end, open interest reached, what was then, the all-time high of 27,603 contracts, which was up 25% from February 2006 and 145% from March 2005. Trading volume in VIX futures totaled 21,367 contracts, rising 21% above February 2006, while open interest was 26,393 contracts at months end.
The sustained growth in volume and open interest demonstrates that CFE, now two years old, has reached a mature level, said Patrick Fay, managing director, CBOE Futures Exchange. This building liquidity, combined with our unique product offerings, particularly in the volatility arena, is proving to be an attractive combination to many investors.
CFE offers futures on 26 different contracts, including: the CBOE Volatility Index, CBOE S&P 500 Three-Month and Twelve-Month Variance, CBOE DJIA Volatility Index, CBOE China Index, full and mini-size Russell 1000 Index, Mini-Russell 2000 Index, (12) PowerPacks sector indexes, and (6) Gas at the Pump contracts. Additionally, CFE recently announced the listing of National Association of Realtors Existing-Home Sales Media Price futures contracts, expected to launch in the second quarter of 2006, pending regulatory approval.