Cboe Global Markets is set to launch cash-settled futures and options on the new Cboe Magnificent 10 index (MGTEN Index).
The new offering, which is subject to regulatory review, makes use of the soon-to-be launched Cboe MGTEN Index, which provides a thematic, equal weighted benchmark, set to provide investors with opportunities to access ten of the most actively traded US-listed large-cap stocks for AI technology and growth-oriented companies.
The exchange expects the futures and options listings to trade on the index on an almost 24×5 basis, to provide market participants with sufficient tools to manage risk and enhance yield.
Specifically, the options will be cash-settled and European style to remove the need for physical delivery and early exercise, and the exchange plans to offer the opportunity for global investors to trade zero-days-to-expiry (0DTE) by listing weekly pm-settled options with expiries set each trading day.
“Both institutional and retail traders are increasingly looking for smarter ways to gain exposure to the most influential, market-moving stocks – along with tools to manage their positions and hedge risk more precisely, both intraday and around the clock. With our new MGTEN Index futures and options, we’re bringing the best of Cboe’s indexing and derivatives expertise to meet this demand,” said Catherine Clay, global head of derivatives at Cboe, at Robinhood Markets’ HOOD Summit in Las Vegas.
Currently, the MGTEN Index’s constituents span all the Magnificent Seven stocks of Alphabet, Apple, Amazon, Meta, Microsoft, Nvidia and Tesla, as well as Advanced Micro Devices (AMD), Broadcom, and Palantir.
Both the futures and options contracts on the MGTEN Index are set to be cleared by the Options Clearing Corporation (OCC).
Clay added: “These products deliver curated exposure to a select group of high-impact stocks in a single solution – rather than managing 10 separate positions – while helping to reduce the concentration risk that may come with trading individual stocks.
“In particular, as market participants increasingly utilize cash-settled index options for short-dated strategies, we believe MGTEN options will similarly be a powerful tool for implementing daily trading strategies around these in-demand stocks.”
Launch is scheduled for Q4 2025, with weekly pm-expiring options set to go live in Q1 2026, subject to regulatory review.
The new offering follows recent news that Cboe is set to launch continuous futures on Cboe Futures Exchange (CFE) on 10 November 2025, to provide traders with access to perpetual-style futures within a US-regulated, centrally cleared and intermediated environment.