10x This will be real nice. 1 car vs 10 Hopefully this will be available soon.
BOCA RATON, Fla. (Dow Jones)--The International Securities Exchange on Tuesday unveiled plans for new, larger-sized options contracts linked to the exchange-traded fund tracking the S&P 500, stepping up its challenge to sector leader CBOE Holdings Inc. (CBOE).
The ISE filed plans with regulators to list options contracts on the ISE Max SPY Index, a proprietary measure that represents 10 times the value of the SPDR S&P 500 ETF Trust (SPY), as the options exchange operators battle for trade in contracts used to speculate on major stock-market shifts.
The planned contracts are similar in size and design to a new slate of electronically traded options rolled out last fall by the parent of the Chicago Board Options Exchange, which maintains exclusive rights to trade options on the S&P 500 stock index. Those contracts are CBOE's most popular products and remain traded mostly on the exchange's Chicago-based floor.
A new version of those options, called SPXpm, debuted last fall on CBOE's new electronic exchange C2, which is oriented toward automated trading firms and formulated to be different from the floor-traded version.
A larger-sized version of the SPY contract to be offered by ISE aims to capture rising interest in options trading among financial institutions, as well as the established use of options on the SPDR ETF.
The ISE estimated that so-called SPY options are the most heavily traded options in the U.S., with more than 2 million changing hands per day so far this year.
BOCA RATON, Fla. (Dow Jones)--The International Securities Exchange on Tuesday unveiled plans for new, larger-sized options contracts linked to the exchange-traded fund tracking the S&P 500, stepping up its challenge to sector leader CBOE Holdings Inc. (CBOE).
The ISE filed plans with regulators to list options contracts on the ISE Max SPY Index, a proprietary measure that represents 10 times the value of the SPDR S&P 500 ETF Trust (SPY), as the options exchange operators battle for trade in contracts used to speculate on major stock-market shifts.
The planned contracts are similar in size and design to a new slate of electronically traded options rolled out last fall by the parent of the Chicago Board Options Exchange, which maintains exclusive rights to trade options on the S&P 500 stock index. Those contracts are CBOE's most popular products and remain traded mostly on the exchange's Chicago-based floor.
A new version of those options, called SPXpm, debuted last fall on CBOE's new electronic exchange C2, which is oriented toward automated trading firms and formulated to be different from the floor-traded version.
A larger-sized version of the SPY contract to be offered by ISE aims to capture rising interest in options trading among financial institutions, as well as the established use of options on the SPDR ETF.
The ISE estimated that so-called SPY options are the most heavily traded options in the U.S., with more than 2 million changing hands per day so far this year.
