CBOE Futures Exchange Secures Market Operator Approval from MAS

The designation allows CBOE Futures Exchange (CFE) to extend its product suite to Singapore.

The Chicago Board Options Exchange (NASDAQ: CBOE) Futures Exchange, LLC, has garnered regulatory approval from the Monetary Authority of Singapore (MAS), which facilitates its status as a Registered Market Operator (RMO) in the country, according to a CBOE report.

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The designation is important as it allows CBOE Futures Exchange (CFE) to extend its product suite to Singapore, which grants investors the ability to become CFE Trading Privilege Holders (TPHs), whilst accessing CFE’s market directly. The initiative targets professional investors, accredited investors, and expert investors alike.

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Expansionary Focus

The move follows on the heels of a recent uptick in the CBOE’s Volatility Index (VIX) Futures, which are open to trading for almost 24 hours a day, even in non-US trading hours. The access also will offer direct access to CFE’s market in Singapore, looking to bolster CFE’s customer scope throughout Asia.

According to Andy Lowenthal, Senior Vice President (SVP), Business Development, Chicago Board Options Exchange, in a recent statement on the offering: “Singapore is the gateway to the Asian investment community, and the country has worked to establish itself as a key futures trading hub. Expanding customer outreach in the region and providing Asian customers with new opportunities to trade our products is a top priority for CFE and CBOE.”

CBOE made headlines earlier this month after it reported its trading volumes for the month ending July 2016, which were underpinned by a pullback MoM after last month’s strong performance. During July, CBOE Holdings disclosed a total trading volume for options contracts on Chicago Board Options Exchange, C2 Options Exchange, and futures contracts on CBOE Futures Exchange of 94.4 million, falling -11.5% MoM from 106.5 million contracts in June 2016.

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