📋 Tender Overview
Enables customers to trade Mini SP 500 Index XSP options nearly 24 hours five days a weekAdds to Cboes existing offering of SPX options and VIX options and futures during Global Trading Hours GTHAbility to harness the cash-settled smaller-sized SP 500 index options during GTH will help enable traders to adjust positions around the clock with even greater precision and flexibilityCHICAGO Nov. 4 2022 PRNewswire - Cboe Global Markets Inc. Cboe CBOE a leading provider of global market infrastructure and tradable products today announced plans to launch trading in Mini SP 500 Index XSP options during global trading hours GTH which will make the product available to customers nearly 24 hours every business day on Cboe Options Exchange beginning December 11 2022.The planned launch will add to Cboes existing offering of its flagship SP 500 Index SPX options and Cboe Volatility Index VIX options and futures during the GTH session. With the ability to trade all four products around the clock market participants globally will have even more product choice to manage risk more efficiently react to global macroeconomic events as they are happening and adjust their positions no matter the hour of the day.The offering of XSP options during GTH is Cboes latest enhancement to further broaden customer access to the XSP product suite. In October Cboe began listing XSP options with Tuesday and Thursday weekly expiring contracts to provide expirations on every business day of the week.Cboes popular cash-settled SPX options have long been the index option of choice for market participants around the world seeking to manage their U.S. equity exposure hedge risk and generate income said Arianne Adams Senior Vice President Head of Derivatives and Global Client Services at Cboe Global Markets. As demand for Cboes proprietary products continues to grow globally from both institutional and retail customers the ability to also trade XSP options during GTH helps investors to harness the smaller-sized contract to execute trading strategies with even greater precision and flexibility on a nearly 24 hours-a-day five days-a-week basis.In U.S. time Cboes GTH session begins at 815 p.m. ET and runs until 915 a.m. ET the following morning. Regular trading hours RTH then run from the U.S. market open at 930 a.m. ET until the market close at 415 p.m. ET. For each Monday business day trading in GTH begins Sunday evening at 815 p.m. ET. In addition the RTH session is followed by a curb session for SPX and VIX options an extra session for electronic trading to adjust unwind or close out trades from 415 p.m. ET to 500 p.m. ET Monday through Friday.Alongside SPX and VIX options XSP options will trade during all three sessions. Similar to SPX options Cboe will offer both standard monthly-expiring contracts and daily-expiring contracts for XSP options during all sessions.At 110th the size of a standard SPX options contract XSP options provide a more manageably sized contract and greater flexibility for new index options traders or traders looking to manage their notional exposure with greater precision. Like SPX options XSP options also offer potentially favorable tax treatment1 European-style exercise no early exercise and cash settlement no delivery or assignment of shares at expiration. SPX and XSP options are exclusively listed on Cboe Options Exchange and are among the most actively traded index options products in the world. Trading volumes have continued to hit all-time highs as a new monthly record of 60.8 million SPX options contracts traded was set in October up 88 percent from October 2021 with average daily volume ADV of 2.9 million contracts. More than 1.3 million XSP options contracts were traded in October up 255 percent from a year ago with ADV of 62000 contracts.For more information about Cboes GTH session please visit httpsgo.cboe.com24x5. About Cboe Global Markets Inc.Cboe Global Markets Cboe CBOE a leading provider of market infrastructure and tradable products delivers cutting-edge trading clearing and investment solutions to market participants around the world. The company is committed to operating a trusted inclusive global marketplace providing leading products technology and data solutions that enable participants to define a sustainable financial future. Cboe provides trading solutions and products in multiple asset classes including equities derivatives FX and digital assets across North America Europe and Asia Pacific. To learn more visit www.cboe.com. Cboe Cboe Global Markets Cboe Volatility Index and VIX are registered trademarks of Cboe Exchange Inc. The SP 500 Index is proprietary to SP Dow Jones Indices LLC. SP SP 500 XSP SP 100 SPX SPY Select Sector The 500 and US500 are trademarks of Standard Poors Financial Services LLC and have been licensed for use by Cboe Exchange Inc. Cboe Exchanges options on the SP 500 Index SP 500 ESG Index and Select Sector Indices are not sponsored endorsed marketed or promoted by SP Dow Jones Indices and SP Dow Jones Indices does not have any liability with respect thereto. All other trademarks and service marks are the property of their respective owners. 2022 Cboe Exchange Inc. All rights reserved.Cboe Global Markets Inc. and its affiliates do not recommend or make any representation as to possible benefits from any securities futures or investments or third-party products or services. Cboe Global Markets Inc. is not affiliated with SP. Investors should undertake their own due diligence regarding their securities futures and investment practices. This press release speaks only as of this date. Cboe disclaims any duty to update the information herein.
