On April 30, 2003 the new Rydex SP Equal Weight ETF (RSP) began trading. It is based on the S&P EWI (Equal Weighted Index), an index composed of the S&P 500 stocks but calculated in a way to give each stock an equal weighting.
CBOE Announces Launch of Futures on VIX: First Tradable Volatility Product Will be Offered on New CBOE Futures Exchange
VIX Methodology Updated and Broadened
CHICAGO, September 5, 2003 - The Chicago Board Options Exchange (CBOE) today announced that futures and options on the CBOE Volatility Index (VIX) will soon be available for trading. VIX futures will be the first product listed on the recently approved CBOE Futures Exchange, LLC. VIX futures and options will be based on the volatility of S&P 500 Index (SPX) options, and will be the first in a new family of volatility products to be offered by CBOE, which will include futures on S&P 500 variance. A fourth-quarter, 2003 launch is planned. CBOE also announced today several enhancements to the VIX, including shifting the underlying index to the S&P 500, the most widely followed index in the world.