OREANDA-NEWS. CBOE Futures Exchange, LLC (CFE®) today announced that Stellar Trading Systems, a multi-asset trading software and services specialist, has established connectivity with CFE as an approved independent software vendor (ISV). 

The new link will provide traders using Stellar Trading Systems’ platform the ability to directly interface with CFE and gain access to the exchange’s suite of products, including futures on the CBOE Volatility Index® (VIX® Index).

“We are pleased to welcome Stellar Trading Systems and their customers throughout the U.S., Europe and Asia, to the CFE network,” said Andy Lowenthal, Senior Vice President, Business Development, CBOE.  “As interest in CFE’s extended trading hours initiative continues to build, we are seeing a growing number of market participants from outside the U.S. trading VIX futures around the clock.  Our connectivity with the Stellar trading community will help enable CFE to expand its reach in these regions and provide even more traders around the world greater efficiency to trade and hedge with CFE’s products, including our flagship product, VIX futures.” 

Steve Thomas, Managing Director, Stellar Trading Systems, stated that, “CFE is renowned for its innovative futures products. We are delighted to bring our full range of products, including our Quantum Server algorithmic engine, spreadMachine and ultra-low latency ASP and API products to all within the CFE trading community.”

Stellar Trading Systems specializes in producing fast and powerful trading systems for the high-frequency, high-volume trader. Stellar provides a complete trading system solution with an intuitive front end, comprehensive order and risk management, offering industry-leading performance. The company has a global client base serviced by offices in Europe, Asia and the U.S.   

Overseas investors are increasingly embracing VIX products as a means to efficiently gain exposure to equity market volatility.  As a result, over the last few years, CFE has lengthened its extended trading hours in VIX futures to accommodate customer requests for longer trading sessions outside of non-U.S. trading hours, providing greater ease of access to global customers.  In 2015, the first full year of nearly 24-hour trading, VIX futures average daily volume (ADV) in extended trading hours represented approximately 9 percent of total VIX futures volume. In March 2016, VIX futures ADV during extended trading hours was 18,518 contracts, representing 10 percent of all CFE ADV for the month.