CBOE Holdings, the largest U.S. derivatives trading platform, is adding to its roster of products with the launch later this month of futures and options on its existing volatility index tied to the iShares MSCI Brazil Index Fund (NYSEArca: EWZ).

The exchange already offers the CBOE Brazil ETF Volatility Index, which applies the VIX methodology to CBOE-listed options contracts on EWZ, the iShares MSCI Brazil Index Fund (NYSEArca: EWZ). Straight options on EWZ were one of the most traded options contracts on the CBOE last year, the exchange said in a press release.

It said CBOE Brazil ETF Volatility Index Security Futures (VXEW) will go live on Feb. 21, while CBOE Brazil ETF Volatility Index Options (VXEWZ) will come to market on March 6.

The two rollouts are designed to meet strong investor demand for options and futures trading linked to volatility benchmarks, and represent CBOE’s effort to cast a broader net and tap into sectors such as emerging markets, CBOE’s Chairman and Chief Executive Officer William Brodsky said in the release.

Last month the exchange rolled out similar futures and options volatility strategies linked to a broader emerging markets strategy, the CBOE Emerging Markets ETF Volatility Index.  The various volatility tools are based on the iShares MSCI Emerging Markets Index Fund (NYSEArca: EEM).

The exchange already offers more than two dozen volatility indexes and strategies, one of its most well known being the CBOE Volatility Index, or VIX, also known as the market’s “fear gauge.”

Apart from products listed directly on the CBOE, volatility-related exchange-traded products have also grown in popularity in the past two years.

For example, Barclays Capital’s iPath S&P 500 VIX Short-Term Futures ETN (NYSEArca: VXX), which launched in January 2009, had more than $1 billion in assets as of Feb. 16, according to data compiled by IndexUniverse.