(Updates with Cboe comment starting in fifth paragraph. Read More: VIX Fear Gauge’s Only Competitor Set to Vanish From the Market The firm also said “any suggestion that Cboe used litigation to eliminate competition is false.” In its own statement Tuesday, Chicago-based Cboe said it sued “to ensure fair competition and that all exchanges are able to introduce products and compete on equal footing.” The petition, filed earlier this month, was denied by Chief Judge Sri Srinivasan of the US Court of Appeals in Washington. MIAX had requested a rehearing after a judge sided with Cboe, deciding an order from the SEC that makes Spikes futures available to trade was insufficient. have been battling over their competing products.

The exchange and Cboe Global Markets Inc. MIAX is disappointed with the decision and is “seeking to obtain a new exemptive order from the Securities and Exchange Commission,” Andy Nybo, a representative for the exchange operator, said Tuesday in an emailed statement. The decision, filed Monday, means the exchange operator may have to shut down Spikes futures by year-end. Get CBOE MKT VOLATILITY IDX (.VIX) real-time stock quotes, news, price and financial information from Reuters to inform your trading and investments.

Miami International Holdings Inc., owner of Spikes futures, won’t be able to defend its product in court after a federal judge denied the company’s petition for a panel rehearing. Find out how to use VIX futures and options to hedge, generate returns or express a view on market risk and sentiment. (Bloomberg) - The financial market’s only competitor to Cboe’s Volatility Index was dealt a blow in its fight for survival. Learn how to measure, model and trade market moves with the VIX Index, a measure of 30-day expected volatility of the U.S.

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