Chicago fact of the day

The mayhem has not spared the Cboe [Chicago Board Options Exchange], with the exchange’s share price falling by as much as 28 per cent this week. Vix futures were responsible for about 40 per cent of the exchange’s earnings growth between 2015 and 2017, according to Goldman Sachs, with ETPs accounting for roughly 20-30 per cent of the “open interest” in Vix futures in recent years.

That is from Rennison, Wigglesworth, and Johnson at the FT.

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