Cboe Working to Improve VIX Settlement Process After Wild Swing
- Exchange says allegations of manipulation have no merit
- Buy-order imbalance responsible for last week’s swing
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Cboe Global Markets Inc. said it is looking at ways to improve the settlement process for its Cboe Volatility Index, whose swings before expiration have been looked upon with suspicion in the market.
Allegations of manipulation are “without merit,” the Chicago-based exchange operator said in a letter to customers and traders that was included in a filing Monday. “If our regulatory efforts were to uncover any manipulation, it would be rooted out, swiftly and decisively.”