Cboe Global Markets, Inc. (Nasdaq: CBOE) today welcomed new issuer Barclays to the Cboe ETF Marketplace, with the launch of two exchange-traded notes (ETNs), together the “New ETNs”.
The iPath® Series B S&P 500® VIX Short-Term Futures ETN (Cboe: VXXB) is designed to provide investors with exposure to the performance of the S&P 500® VIX Short-Term Futures Index TR, which is designed to measure the return from a daily rolling long position in the front and second month futures contracts on the Cboe Volatility Index® (VIX® Index).
The iPath® Series B S&P 500® VIX Mid-Term Futures ETN (Cboe: VXZB) is designed to provide nvestors with exposure to the performance of the S&P 500® VIX Mid-Term Futures Index TR, which is designed to measure the return from a daily rolling long position in the fourth, fifth, sixth and seventh month futures contracts on the VIX® Index.
The New ETNs are launched in advance of the upcoming scheduled maturity of the iPath® S&P 500® VIX Short-Term Futures ETNs (Ticker: VXX) and the iPath® S&P 500® VIX Mid-Term Futures ETNs (Ticker: VXZ) (together, the “Maturing ETNs”). The final redemption date of the Maturing ETNs is scheduled for January 30, 2019 and both the New ETNs and the Maturing ETNs are expected to trade in parallel until the final redemption date of the Maturing ETNs.
Laura Morrison, Senior Vice President, Global Head of Exchange-Traded Products at Cboe, said:
One of the huge benefits of our business model is our ability to inform product design, listing and trading under one roof. We are therefore particularly delighted that Barclays has chosen us as the listing venue for these products, both of which are linked to our Cboe Volatility Index.
Cboe is the home of the Cboe Volatility Index® (VIX® Index), which is considered by many to be the world’s premier barometer of equity market volatility. The VIX Index is based on real-time prices of options on the S&P 500 Index (SPXSM) and is designed to reflect investors’ consensus view of future (30-day) expected stock market volatility.
On January 2, 2018, Cboe launched a new microsite designed to educate and inform investors about exchange-traded volatility products (ETPs).
At the end of 2017, Cboe had 250 ETPs listed on its U.S. market from 47 issuers. The firm won 62% of new transfers and 32% of listings over the year.