Hong Kong Exchanges & Clearing Ltd. will begin offering futures tracking the HSI Volatility Index (VHSI) of options prices today.
Futures (VHSH2) on the benchmark, which tracks expected equity- market volatility over the next 30 days, are the first of their kind based on an Asian market, according to Calvin Tai, head of trading at the Hong Kong exchange.
The Osaka Securities Exchange Co. will begin offering futures on Japan's Nikkei Stock Average Volatility Index (VNKY) on Feb. 27, according to the bourse.
Volatility index futures have been trading in the U.S. since 2004 and Europe since 2005. The products were created as alternatives to so-called variance swaps, derivatives in which investors take a position on how much a stock or index will move with a bank or dealer instead of via a public exchange...
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