Observations & Insight

CBOE will begin its expanded trading hours on Monday, October 28th for the CBOE Volatility Index futures.

The longer day is aimed at attracting more overseas trading by adding 5 hours and 45 minutes to the trading day in two phases. The initial start of October 21, was postponed due to the government shutdown. Here is the schedule from CBOE:

· Fifteen minutes after the 3:15 p.m. (Chicago time) close of VIX futures, the market will reopen for a new trading period from 3:30 p.m. to 4:15 p.m. (Chicago time). Trading will then resume at 7:00 a.m. (Chicago time) the following morning.

· The new 45-minute period, which marks the beginning of the next trading day, will be available from Monday through Thursday.

Phase II – Plan to Begin Monday, November 4
The second phase of the extended trading hours initiative will benefit U.S. and European customers who are seeking longer hours for trading in VIX futures. European-based customers will have the opportunity to trade VIX futures during their local trading hours by beginning the current trading session five hours earlier than its current opening time of 7:00 a.m. (Chicago time).

· Trading will begin at 2:00 a.m. (Chicago time) (8:00 a.m. GMT).

· The new five-hour period, which precedes the current trading hours, will be available from Monday through Friday.

With both extended trading periods in place, VIX futures trading hours will run from 2:00 a.m. through 3:15 p.m. (Chicago time), Monday through Friday, with the 3:30 p.m. to 4:15 p.m. (Chicago time) trading period available Monday through Thursday. No trading is scheduled on Saturdays and Sundays in either of the phases.

Lead Stories

CME Sees Record Volumes in WTI-Brent Crude Oil Spread Options
FX Magnates
The world’s largest futures marketplace, the Chicago Mercantile Exchange (CME), reported record trading activity in its NYMEX WTI-Brent Crude Oil Spread Option contract on the 23rd of October.
http://jlne.ws/1chzNFZ

Deutsche Bank Launches Trading Platform for U.S. Equity Options
Options Insider
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Posted October 24th, 2013 by The Options Insider in Industry
Earlier this week, Deutsche Bank’s Autobahn electronic trading business launched Autobahn Options. http://jlne.ws/16AmDMA
**JK – The options autobahn? But that’s in Germany…

CME Loses Power In Yet Another Exchange Blackout
Paul Shea – ValueWalk
The CME Group Inc (NASDAQ:CME) (Chicago Mercantile Exchange) is apparently down, according to reports breaking this afternoon.
http://jlne.ws/1eQ3Ces
** From CME Group: That article isn’t totally accurate. There was a power surge that impacted the Internet and phone service of some traders on the trading floor. Trading of CME Group markets has not been impacted.
Exchanges

Completion of FINRA’s Analysis of Submitted Claims Pertaining to Facebook IPO
What is happening?
The Market Regulation Department of the Financial Industry Regulatory Authority (FINRA) has completed its assessment of all claims submitted by members of The NASDAQ Stock Market LLC (NASDAQ®) under NASDAQ Rule 4626(b)(3), which pertains to the initial public offering (IPO) of Facebook, Inc. (FB) on May 18, 2012. http://jlne.ws/1dsPSZ3

Strategy

S&P 500 rattles cage on all-time closing high
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Despite this week’s flattish price action, the S&P 500 Index is rattling the cage on significant technical territory.
http://jlne.ws/18TtZ1D

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