Effective trade date December 14, 2026, Cboe Options Exchange (C1) and Cboe Futures Exchange, LLC (CFE) will introduce a Futures-Options Order Type (FOOT) for VIX Options and Futures, subject to regulatory review.

FOOT will allow Trading Permit Holders (TPHs) to execute complex options orders with a single futures leg.

A FOOT order, also referred to as an Inter-Exchange Spread order, is a complex order having options legs and a single futures leg. The expiration dates of all option legs are required to be the same as the expiration date of the futures leg. The futures leg is required to be priced on entry, and that futures price will be a component of the complex instrument definition. FOOT orders will therefore only match if they have the same futures leg price.

The futures leg will be a futures instrument trading on CFE. FOOT trades executed on C1 will have their futures leg execution reported to CFE. As described below, futures order information, including a CFE EFID, is required to be included with the submission of the order to enable the execution of the futures leg on CFE. C1 TPHs that are not also CFE TPHs can arrange for the execution of the futures leg via agreement with a futures routing broker to be designated by C1.

A new U.S. Options Complex Multicast Futures Options Order Type PITCH feed and specification will be introduced for customers to receive real-time depth of book quotes and execution information directly from Cboe. This new feed for FOOT instruments will only include quotes and executions related to complex orders for complex options with futures legs.

FOOT instruments, orders, and quotes will only be available on the new feed and will not be available on existing feeds.

This functionality will be available to test in the C1 and CFE certification environments on October 5, 2026.