Cboe Plans to Launch Cash-Settled Futures and Options on New Index Tracking Tech and Growth-Orientated U.S. Stocks
Cboe Global Markets (CBOE) has announced plans to launch futures and options on the new Cboe Magnificent 10 Index (MGTEN), pending regulatory review. The index will track 10 major U.S. tech and growth stocks, including the Magnificent 7 plus AMD, Broadcom, and Palantir.
The new products will feature cash-settled, European-style options with both standard monthly A.M.-settled and weekly P.M.-settled expirations, enabling nearly 24x5 trading. The launch is scheduled for Q4 2025 for monthly options and futures, with weekly options following in Q1 2026.
This initiative aims to provide investors with efficient exposure to high-impact tech stocks through a single product, particularly catering to the growing demand for zero-days-to-expiry (0DTE) options trading.
Cboe Global Markets (CBOE) ha annunciato l’intenzione di lanciare futures e opzioni sul nuovo Cboe Magnificent 10 Index (MGTEN), soggetto a revisione normativa. L’indice seguirà 10 importanti titoli tecnologici e growth statunitensi, comprendendo i Magnificent 7 insieme ad AMD, Broadcom e Palantir.
I nuovi prodotti prevedono opzioni europee regolate in contanti con scadenze mensili standard regolate al mattino (A.M.) e scadenze settimanali regolate alla sera (P.M.), consentendo un’attività di trading quasi 24x5. Il lancio è previsto per il Q4 2025 per le opzioni mensili e i futures, mentre le opzioni settimanali seguiranno nel Q1 2026.
L’iniziativa punta a offrire agli investitori un’esposizione efficiente ai titoli tecnologici più influenti tramite un unico strumento, rispondendo in particolare alla crescente domanda di trading su opzioni a zero giorni alla scadenza (0DTE).
Cboe Global Markets (CBOE) ha anunciado planes para lanzar futuros y opciones sobre el nuevo Cboe Magnificent 10 Index (MGTEN), sujeto a revisión regulatoria. El índice seguirá a 10 grandes valores tecnológicos y de crecimiento de EE. UU., incluyendo a los Magnificent 7 más AMD, Broadcom y Palantir.
Los nuevos productos ofrecerán opciones europeas liquidadas en efectivo con vencimientos mensuales estándar liquidados por la mañana (A.M.) y vencimientos semanales liquidados por la tarde (P.M.), lo que permitirá operar casi 24x5. El lanzamiento está previsto para el Q4 2025 para las opciones mensuales y los futuros, y las opciones semanales llegarán en el Q1 2026.
La iniciativa busca proporcionar a los inversores una exposición eficiente a las principales acciones tecnológicas a través de un único producto, atendiendo en particular la creciente demanda de trading de opciones con cero días para el vencimiento (0DTE).
Cboe Global Markets (CBOE)는 새로운 Cboe Magnificent 10 Index (MGTEN)에 대한 선물 및 옵션을 규제 당국 검토를 전제로 출시할 계획이라고 발표했습니다. 해당 지수는 매그니피센트 7에 AMD, 브로드컴, 팔란티어를 더한 미국의 주요 기술·성장주 10종을 추적합니다.
신상품은 현금결제 유럽형 옵션으로, 표준 월간 A.M. 정산과 주간 P.M. 정산 만기를 모두 제공해 거의 24x5 거래가 가능하도록 설계되었습니다. 월간 옵션과 선물은 2025년 4분기(Q4)에, 주간 옵션은 2026년 1분기(Q1)에 출시될 예정입니다.
이 사업은 투자자에게 단일 상품을 통해 영향력 있는 기술주에 대한 효율적 노출을 제공하는 것을 목표로 하며, 특히 만기 당일(0DTE) 옵션 거래에 대한 증가하는 수요를 충족하려 합니다.
Cboe Global Markets (CBOE) a annoncé son intention de lancer des futures et des options sur le nouveau Cboe Magnificent 10 Index (MGTEN), sous réserve d’examen réglementaire. L’indice suivra 10 grandes valeurs technologiques et de croissance américaines, incluant les Magnificent 7 ainsi que AMD, Broadcom et Palantir.
Les nouveaux produits proposeront des options européennes réglées en espèces avec des expirations mensuelles standard réglées le matin (A.M.) et des expirations hebdomadaires réglées le soir (P.M.), permettant un trading quasi 24x5. Le lancement est prévu pour le T4 2025 pour les options mensuelles et les futures, les options hebdomadaires suivant au T1 2026.
Cette initiative vise à offrir aux investisseurs une exposition efficace aux titres technologiques les plus influents via un produit unique, répondant notamment à la demande croissante pour le trading d’options à zéro jour avant expiration (0DTE).
Cboe Global Markets (CBOE) hat Pläne angekündigt, Futures und Optionen auf den neuen Cboe Magnificent 10 Index (MGTEN) einzuführen, vorbehaltlich der behördlichen Prüfung. Der Index wird 10 große US-Tech- und Wachstumswerte abbilden, darunter die Magnificent 7 plus AMD, Broadcom und Palantir.
Die neuen Produkte werden in bar abgerechnete europäische Optionen mit sowohl standardmäßigen monatlichen A.M.-Abrechnungen als auch wöchentlichen P.M.-Abrechnungen bieten, was nahezu 24x5-Handel ermöglicht. Der Start ist für Q4 2025 für Monatsoptionen und Futures geplant, die wöchentlichen Optionen folgen in Q1 2026.
Mit dieser Initiative sollen Anlegern effiziente Expositionsmöglichkeiten gegenüber einflussreichen Tech-Aktien in einem einzigen Produkt geboten werden, insbesondere um der wachsenden Nachfrage nach 0-Tage-Bis-Laufzeit-(0DTE)-Optionshandel gerecht zu werden.
- Introduction of a new comprehensive trading product covering 10 major tech stocks in a single instrument
- Nearly 24x5 trading availability provides enhanced market access and trading flexibility
- Cash-settled nature eliminates physical delivery complications and early exercise risks
- Potential margin offsets through OCC clearing may improve capital efficiency
- Launch is subject to regulatory review which could impact timing or features
- Extended trading hours will not be available immediately at launch
Insights
Cboe's new MGTEN index products target retail and institutional demand for simplified exposure to top tech stocks with flexible trading options.
Cboe's planned launch of futures and options on the new Magnificent 10 Index represents a significant product innovation targeting the growing appetite for derivatives exposure to high-growth tech stocks. The equal-weighted index includes the Magnificent 7 stocks plus AMD, Broadcom, and Palantir, creating a focused instrument for trading the AI and tech growth narrative through a single product rather than managing ten separate positions.
The product design shows careful attention to current market trends, particularly the explosive growth in zero-days-to-expiry (0DTE) options trading. By offering weekly P.M.-settled options with daily expirations, Cboe is directly addressing the surging retail demand for short-term trading vehicles. The cash-settled, European-style structure eliminates assignment risk and physical delivery concerns that often complicate options strategies.
From a market structure perspective, the nearly 24x5 trading availability acknowledges the increasingly global nature of markets and demand for extended-hours risk management capabilities. The planned clearing through OCC with potential margin offsets demonstrates attention to capital efficiency considerations that matter significantly to both retail and institutional traders.
This launch continues Cboe's strategic expansion of its index-based derivatives offerings, positioning the exchange to capture additional trading volume in the high-volatility tech sector while providing market participants with more precise tools for expressing directional views and managing concentration risk in these influential stocks.
- New Cboe Magnificent 10 Index (MGTEN Index) will measure a fixed set of actively traded
U.S. -listed stocks - Planned cash-settled MGTEN Index options to allow for nearly 24x5 and shorter-dated options trading
- Launch is latest push by Cboe to meet robust retail investor appetite for derivatives
The Cboe Magnificent 10 Index, launching soon, is a thematic, equal-weighted benchmark designed to measure the price return of 10 U.S.-listed large-cap/articles/market-capitalization-explained" title="Read: What Is Market Capitalization and How It Is Calculated" class="article-link" rel="noopener">large-cap stocks of technology and growth-orientated companies. The current constituents include all the Magnificent 7 stocks (Alphabet, Apple, Amazon, Meta, Microsoft, Nvidia, and Tesla), in addition to Advanced Micro Devices (AMD), Broadcom, and Palantir. The value of the MGTEN Index will be available on the Cboe Global Indices Feed via the Cboe Global Indices Channel. Cboe intends to list futures and options on the Cboe Magnificent 10 Index that will trade on a nearly 24x5 basis, providing a comprehensive suite of tools for market participants seeking to manage risk, enhance yield, and express their views on the most dynamic segment of the
"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," said Cathy Clay, Global Head of Derivatives at Cboe, at the HOOD Summit in
MGTEN options will be cash-settled and European-style, eliminating physical delivery and the potential for early exercise, differentiating these from options on the stock components. Along with the standard monthly A.M.-settled expirations, Cboe plans to list weekly P.M.-settled options with expiries on each trading day, offering investors across the globe the ability to trade zero-days-to-expiry (0DTE) options on the index. 0DTE trading has grown significantly in recent years as investors seek the utility short-dated options can provide, including the ability to tactically hedge, more granularly manage intraday risk, and implement daily yield-generating strategies. MGTEN options will be listed and traded on Cboe Exchange, Inc. (Cboe Options).
The planned cash-settled MGTEN futures will be listed and traded on Cboe Futures Exchange (CFE). MGTEN futures will offer a capital-efficient way to gain exposure to the most influential tech stocks through a single tradable product. Futures provide a way to diversify portfolios with inherent leverage, empowering investors to take larger positions with smaller upfront capital, while offering the precise ability to hedge, speculate, or enter a short position. Both the MGTEN Index futures and options will be cleared by the Options Clearing Corporation (OCC), potentially allowing for margin offsets.
Cboe aims to launch the MGTEN Index monthly options and futures in the fourth quarter of 2025, with the weekly P.M.-expiring options to begin trading in the first quarter of 2026, all subject to regulatory review. At launch, MGTEN Index futures and options trading will be available during regular trading hours and Cboe plans to extend availability through its Global Trading Hours at a later date. For more details on the index and its tradable products, visit the pre-launch resource hub here.
About Cboe Global Markets
Cboe Global Markets (Cboe: CBOE), the world's leading derivatives and securities exchange network, delivers cutting-edge trading, clearing and investment solutions to people around the world. Cboe provides trading solutions and products in multiple asset classes, including equities, derivatives and FX across
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FAQ
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