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Wow. I've always heard that Vix Settlement is manipulated, but this is quite eye opening. The other thing I know is that the trading desk of the NY Fed uses Vix to tamp down market volatility during exceptionally stressful times via the relationship between the US Dollar / Currency swaps and Vix. Powell once even alluded to the NY Fed Trading Desk "closing Vix positions" to wind down market support after a big down move in a speech once - I can never find any record of it written, but I heard it with my own ears when he said it. I want to say it was in 2018. It's hard to expect the Fed or anyone else to care about manipulation in the index when they do it too....

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