Getting Shorter: CBOE’s Ed Tilly Introduces Short-term VIX and Industry Taxes

Oct 28, 2013

It has been half a year since Ed Tilly took over as CEO of the CBOE from Bill Brodsky, who moved to the newly created role of executive chairman.

WATCH: Taking the Reins: CBOE’s Ed Tilly Makes The Transition to CEO

With six months under his belt, John Lothian News Publisher John Lothian sat down with him to talk about his new job, new initiatives from the CBOE and the challenges facing the industry.

In Part 2 of this interview, Tilly talks about the CBOE extending the VIX trading hours to access trading from European traders and how he expects the VIX will someday be open the same hours as the CME’s Globex S&P 500 futures.

He also talked about the CBOE’s new VXST short-term VIX contract, which will offer traders a much more sensitive instrument to be able to trade short-term events.

He spoke about the meeting the industry had with the chairman of the SEC about problems that have plagued the markets in recent months.

Lastly, he spoke about the impact of the Camp Proposal, a piece of proposed legislation from Rep. Dave Camp (R-MI), a member of the House Committee on Ways & Means, that could have a big impact on the options business and its customers. Camp’s proposal includes several provisions that would change the tax treatment for strategies used in options trading. Some believe it could severely harm the listed options business in the United States.

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