Cboe Global Markets (BATS:CBOE) said Friday that it’s planning to roll out trading in Mini S&P 500 Index options on its exchange during global trading hours, allowing market participants to trade the product nearly 24 hours each business day.
The planned launch of XSP options, which is expected to take effect on December 11, is set to add to Cboe’s (CBOE) existing offering of its flagship S&P 500 Index (“SPX”) options and Cboe Volatility Index (“VIX”) options during the GTH session.
XSP options are 1/10th the size of a standard SPX options contract, providing greater flexibility for options traders looking to manage their notional exposure with more precision, the company said.
Note that Cboe’s (CBOE) GTH session starts at 8:15 p.m. ET and runs through 9:15 a.m. ET the following morning.
“As demand for Cboe’s 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,” said Arianne Adams, senior vice president, head of Derivatives and Global Client Services at Cboe Global Markets.
Meanwhile, CbOE stock rose 4.4% in late morning trading as it sees higher organic growth, less expenses in 2022 after Q3 beat.