Cboe Futures Exchange
| Product Name/Code | Category | Specifications | Minimum Price Fluctuation | Daily Price Limit | More information | |
|---|---|---|---|---|---|---|
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$ CBOE Volatility Index Futures (VX) |
Futures | USD 1,000 |
0.05 points = 50 USD | According to the S&P 500 spot index decline: |
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$ Mini VIX Futures (VXM) |
Futures | 100 USD |
0.01 pip = 1 USD | According to the S&P 500 spot index decline: |
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$ High Yield Corp. Bond Indexes (IBHY) |
Futures | USD 1,000 |
0.01 points = 10 USD | none |
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For the trading months of options, please refer to the list of Last Trading Day. All of the above are in daylight saving time. For most of U.S., European, and Australian products, trading hours will be delayed by one hour during winter time.
According to the account opening and entrustment contract with our company, physical delivery of foreign futures contracts may not be accepted. Traders are required to close out positions within the timeframe specified by the company. Otherwise, the company reserves the right to offset positions upon expiration.
If electronic closeout is unavailable after the first notice day, please contact the trading desk at +886-2-2755-1326.
For cash-settled products, cash settlement will be executed after the market close on the last trading day in accordance with exchange rules.
Notes:
* The "#" before the product name indicates physical delivery futures or futures options, while the "$" indicates cash-settled futures or spot options.
* Acceptable order types: 1. MKT (FaK), 2. Limit, 3. STP Limit. (IBHY) 1. Limit, 2. STP Limit (during trader hours).
*CFE Rule Book; Contract Specifications; Margin Updates.
*Market Orders for VX and VXM futures will be accepted by the Exchange during regular trading hours (21:30 ~ 04:00). Market Orders for VX and VXM futures will not be accepted by the Exchange during any other time period outside of regular trading hours (opening ~ 21:30 and 04:00 ~ 05:00).
*There is no TAS (Trade At Settlement) on the last trading day.
*Market with Protection:
Error Trade: The Exchange error trade policy may only be invoked for a trade price that is greater than 10% (No-Bust Range)on either side of the market price of the applicable VX and VXM futures contract, and by greater than 2% (No-Bust Range)for IBHY futures.
A Trading Privilege Holder must notify the Trade Desk of any potential error trade within eight minutes of its execution. The Trade Desk will review the trade to determine if the price falls within the “no bust range” . Once a decision is made, the Trade Desk will notify the parties whether the trade stands, is adjusted (with the new transaction price), or is busted.
*Final Settlement Price: The final settlement value for VX and VXM futures shall be a Special Opening Quotation (SOQ) of the VIX Index calculated from the sequence of opening trade prices during the special opening auction conducted on days when VX futures settle. The opening price for any series in which there is no trade shall be the midpoint price of the highest bid price and lowest offer at the time of the opening.
IBHY : Shall be the closing index value of the applicable CB Index on the final settlement date as determined by Market Indices Limited.
*Day Trading: Any day trades executed within 30 minutes of the product’s market close will be settled against the initial margin. Clients should refrain from placing closing orders after this period. If a client places a closing order after the 30-minute window and duplicates positions, they will be responsible for any resulting errors. Day trading orders will not be accepted on the last trading day for cash-settled products.
* Daylight Saving Time (DST): In the United States, DST begins on the second Sunday in March and ends on the first Sunday in November.
For detailed information, please refer to the websites of each exchange. This information is for reference only, and any relevant details are subject to exchange announcements. Users are responsible for any losses incurred from trading based on this information.
