In re Chi. Bd. Options Exch. Volatility Index Manipulation Antitrust Litig.

Manish S. Shah, United States District Judge

The Chicago Board Options Exchange created the Volatility Index to measure stock market volatility. It also created VIX-related products, including futures and options, that allow investors to trade on their predictions of the market's volatility. Plaintiffs bought and sold VIX-related products on Cboe's exchanges and now argue that Cboe designed the VIX enterprise in a way that allowed anonymous traders to manipulate the market for their own benefit. Cboe knew about this manipulation of its most profitable venture, plaintiffs assert, and chose not…