CBOE Futures Exchange (CFE) — VIX Futures
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CBOE Futures Exchange (CFE®) is the home of volatility futures, featuring futures on the CBOE® Volatility Index (VIX®). CFE is owned by CBOE Holdings, Inc. and trades on CFE are cleared by The Options Clearing Corporation (OCC). CFE is an all-electronic, open access market model with dedicated market makers and market participants providing liquidity. Futures on VIX®, CBOE's trademark Market Volatility Index®, provide a pure play on implied volatility independent of the direction and level of stock prices. VIX futures may also provide an effective way to hedge equity returns, to diversify portfolios, and to spread implied against realized volatility.
See: CFE website