• 15 Oct 2013 at 4:45 PM

Shutdown Watch, Day 15: It’s A Glitch!

The CBOE hasn’t had the easiest time extending VIX trading hours, but, for once, the further delay is not its fault.

CBOE Holdings Inc., the operator of the largest U.S. options exchange by trading volume, will delay the launch of extended trading in its Volatility Index futures due to the continuing shutdown in Washington. With the Commodity Futures Trading Commission operations limited, the CBOE Futures Exchange’s extended hours haven’t received appropriate certifications for the exchange to meet its target launch dates.

“CFE is operationally prepared to proceed with these launch dates,” the exchange operator said in a notice to traders. “However, due to the government shutdown, CFE must defer the launch of the second phase of expanded VIX futures extended trading hours,” the notice said….

Certain certifications must be on file with the CFTC for 10 full business days before they become effective, according to a CBOE spokeswoman. CBOE must wait for the partial shutdown of the U.S. government to end to begin notching that required time, she said. The exchange will announce new launch dates once the government reopens.

Yea, about that….

Negotiations to reopen the government and avert a possible default just two days away were temporarily suspended Tuesday, and Senate Republicans emerged from a closed-door lunch saying they had to wait to see if their struggling House counterparts could still come up with their own plan….

The continuing efforts by the House to reach agreement on a proposal put a halt to talks in the Senate after negotiators had appeared to be closing in on a deal. Stock markets dipped as meetings continued on Capitol Hill and at the White House. But for the moment, the attention had returned to the House and whether Mr. Boehner could come up with a proposal that would attract enough support.

Extended VIX Futures Trading Hours Delayed by Federal Shutdown [WSJ MoneyBeat blog]
Senate Talks on Hold as House G.O.P. Revises Its Fiscal Plan [NYT]

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