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Bailey McCann, Opalesque New York:

Last night's wild ride in markets has taken another product. Shares of $XIV and $SVXY were halted today as VIX pushed passed new highs for the first time in years. Shortly before trading opened on Wall Street, Credit Suisse announced that it would be accelerating VelocityShares Daily Inverse VIX Short Term ETNs ($XIV) over the next two weeks ending on February 21.

In a statement, Credit Suisse said investors will get cash back on February 21 "in an amount equal to the closing indicative value of XIV on the accelerated valuation date." The last day of trading for XIV is expected to be February 20, 2018.

Proshares also released a statement saying its short volatility ETF ProShares Short VIX Short-Term Futures ($SVXY) behaved as expected in last night's plunge and will remain open for trading.

Horizon's Canada Inverse VIX ETF ($HVI) has also been halted. In a statement, Horizons ETFs Management said it would continue to monitor market volatility and make a decision in the future about whether to re-open trading.

As Opalesque reported after markets closed, Nomura ended the Next Notes S&P 500 VIX Short-Term Futures Inverse Daily Excess Return Index ETN - the first product loss of the VIX spike.

Markets opened down as expected but have already had wild swings in the first hour. As of this writing, equities have bounced......................

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