SEC Approves CBOE Holdings' Proposal To Trade SPXpm
New S&P 500 Index Option Product To Launch on C2, the Company's All-Electronic Exchange
C2's SPXpm product will be a cash-settled index option based on the S&P 500 Index, the premier benchmark of the broader U.S. market. SPXpm is almost identical in structure to the
"We are pleased to provide investors with a new, efficient way to trade options on the
Brodsky continued, "The launch of SPXpm will enable us to broaden our customer reach by providing two very deep pools of liquidity to trade the S&P 500 Index -- one trading SPXpm electronically on C2, and the other trading SPX AM with the ability to negotiate large, complex orders afforded by floor trading at
Details regarding a launch date will be announced in the near future.
SPXpm Contract Specifications:
PM-settled, European style exercise
Stated in decimals. One point equals $100. Minimum tick for options trading below 3.00 is 0.05 ($5.00) and for all other series, 0.10 ($10.00).
Strike Price Intervals
The minimum interval for SPXpm options shall be no less than five points.
Up to twelve near-term contracts. LEAPS may also be listed.
Saturday following the third Friday of the expiration month.
Last Trading Day
Trading in SPXpm options will ordinarily cease on the business day (usually a Friday) preceding the expiration date.
8:30 a.m. to 3:15 p.m. (CT)
A complete overview of SPXpm can be found at: http://www.cboe.com/SPXpm.
One final noteworthy item, the launch of SPXpm options on C2 will not impact, nor will it have any effect on, how
This press release may contain forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are those statements that reflect our expectations, assumptions or projections about the future and involve a number of risks and uncertainties. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause actual results to differ materially from that expressed or implied by the forward-looking statements, including: legislative or regulatory changes; changes in law or government policy; increasing competition; loss of our exclusive licenses; decrease in trading volumes; an inability to introduce competitive new products and services; competitive pressures on our existing products, services and trading access fees; changes in price levels and volatility in the derivatives and equity markets; economic, political and market conditions; increases in our fixed costs and expenses; loss of existing customers; difficulty developing strategic relationships and attracting new customers; increased costs related to, or the loss of, intellectual property; rapid technological developments; increases in trading volume and order transaction traffic that we cannot accommodate; our ability to maintain our growth effectively; damage to our reputation and brand name; loss of market data revenue; detrimental changes to our fee structure; failure to effectively monitor and manage our risks; customer consolidation; and changes to the tax treatment for options trading.
More detailed information about factors that may affect our performance may be found in our filings with the
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