Starting from 11 December, Cboe Global Markets will launch trading in Mini S&P 500 Index (XSP) options during global trading hours (GTH), making the product available nearly 24 hours every business day on Cboe Options Exchange.
The forthcoming launch will add to Cboe’s existing offering of its S&P 500 Index (SPX) options and Cboe Volatility Index (VIX) options and futures during the GTH session.
The move will allow market participants globally to trade all four products around the clock, providing more product choice to manage risk more efficiently, as well as the ability to react to global macroeconomic events immediately and adjust positions at any time of the day.
The offering of XSP options during GTH comes as part of Cboe’s plans to offer broadened customer access to the XSP product suite. Last month, Cboe began listing XSP options with Tuesday and Thursday weekly expiring contracts to provide expirations on ever business day of the week.
“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.
The news follows a revenue jump of 20% by Cboe Global Markets in Q3. The exchange delivered record earnings driven by its derivatives franchise, data solutions and cash/spot markets.