Dispute over Vix, and mixed fortunes for vol products

New Angles

Last month, an Illinois court approved a request from the Chicago Board Options Exchange (CBOE) to dismiss a case brought against it by the Chicago Mercantile Exchange (CME) over futures on Vix – the CBOE’s measure of implied volatility of S&P 500 equity index options. The CME had claimed that by listing the volatility products – the first of which launched in March – the CBOE had infringed upon the CME’s exclusive license agreement with Standard & Poor’s that covers futures contracts based