Cboe Futures

Cboe Futures Exchange (CFE®) is the home of volatility futures, featuring futures on the Cboe® Volatility Index (VIX®). CFE is owned by Cboe Global Markets and trades on CFE are cleared by The Options Clearing Corporation (OCC). CFE is an all-electronic, open access market model with dedicated market makers and market participants providing liquidity.


Currency: US Dollar (USD)
Trading Hours: 18:00 - 16:15 ET (22 hours 15 minutes) Sunday to Friday

Holiday Calendar & Trading Hours

Trading Summary

Please make sure that you familiarize yourself with the expiration dates of the different contracts and the universal month codes for them. The month codes to denote contract expiration months are universal, and can be found on the Contract Month Codes page.

PPro8 symbology for CBOE contracts:



CCC = 1–3 digit contract code

M = One-digit contract month

YY = Two-digit contract year

For example, XBT\F18 BitCoin futures contract, January 2018 expiry

Minimum BP per contract:

BitCoin Futures: contract size/BP = as per contract price

Cboe Volatility Index (VIX) Futures: contract size/BP = price * 1000

Order Types

  • Limit Buy/Sell→ShortSell
  • Market Buy/Sell→ShortSell

Basic Market Rules

  • Lot Size: 1 contract.
  • Tick Size: varies, see the Cboe Product Slate for more information.
  • Short Sale Rules: short selling is allowed, and no mark or locates are required for shorting.

For more information, see the CFE Rulebook page.

See Also

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