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The VIX is a measurement of volatility in US markets. What about UK markets?

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See the FTSE Volatility Index.

You can see the current index on the Bloomberg site (just one place of many to read it): http://www.bloomberg.com/apps/quote?ticker=VFTSE:IND

You can find background info on what brought the index about, and how to read it, here: http://www.euronext.com/news/press_release/press_release-1731-EN.html?docid=543819 FTA: "Market participants consider volatility indices to work like a barometer; a high value translates to a greater degree of underlying index turbulence; a low value is consistent with greater stability."

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