For sure, CP-67 (and before that even, CP-40) is a direct ancestor of z/VM. It 
was an IBM Research project and IBM only made it available to a small set of 
key customers. We celebrate today as VM's anniversary because that's when IBM 
announced VM/370 as an official supported product that anyone could order 
simply by calling up their friendly, helpful IBM sales rep.
See:
  https://www.vm.ibm.com/history/timeline.html

DJ

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