Timeline of Listed Volatility Futures

Right now there are only two indexes with listed volatility instruments - VIX and VSTOXX. There are talks, mainly press-releases from different exchanges about plans to list futures on local vol indexes (VKOSPI futures, India VIX futures, Japanese VIX futures), however I think we're a very long way from seeing another successful volatility instrument. The reason is that historically there just has not been enough interest from traders - just look at this timeline of volatility futures:

• Jan 1998 DTB lists VOLAX futures on DAX
• Dec 1998 DTB delists VOLAX futures on DAX
• Mar 2004 CBOE lists futures on VIX
• Apr 2005 CBOE lists DJIA volatility futures
• Sep 2005 Eurex lists futures on VDAX, VSMI, and VSTOXX
• Feb 2006 CBOE lists VIX options
• Jul 2007 CBOE lists Nasdaq and Russell 2000 volatility futures
• Mar 2009 CBOE lists mini-VIX futures
• Jun 2009 Eurex lists MINI-VSTOXX futures 
• Jul 2009 Eurex delists VDAX, VSTOXX, VSMI futures
• Aug 2009 CBOE delists DJIA volatility futures
• Feb 2009 CBOE delists Nasdaq volatility futures
• Feb 2010 CBOE delists Russell 2000 volatility futures
• Mar 2010 Eurex lists options on VSTOXX

As you can plainly see there has been many attempts to introduce new volatility instruments, most of them seemed reasonable at the time, but they still failed to attract liquidity. Would VKOSPI futures succeed where VDAX failed? I doubt it.