Cboe Global Markets Plans to Launch S&P 500® Equal Weight Index Options on April 14, 2025
Cboe Global Markets (CBOE) has announced plans to launch options on the S&P 500 Equal Weight Index (EWI) on April 14, 2025, pending regulatory review. The new cash-settled options will be based on 1/10th the value of the S&P 500 EWI.
The S&P 500 EWI includes identical constituents as the traditional S&P 500 Index but assigns each component a fixed 0.2% weight during quarterly rebalancing. This structure offers different exposure compared to the cap-weighted S&P 500 - as of December 20, 2024, the bottom 400 constituents represented about 80% of the EWI versus just 26% in the standard index.
The launch aims to provide investors with additional tools for risk management and diversification, particularly given increasing market concentration. The options will trade during regular hours from 9:30 a.m. ET to 4:15 p.m. ET. This initiative expands Cboe's suite of S&P DJI index-based products, which includes SPX options, Mini SPX Options, and various volatility indices.
Cboe Global Markets (CBOE) ha annunciato l'intenzione di lanciare opzioni sull'S&P 500 Equal Weight Index (EWI) il 14 aprile 2025, in attesa di revisione normativa. Le nuove opzioni a pagamento in contante saranno basate su 1/10 del valore dell'S&P 500 EWI.
L'S&P 500 EWI include gli stessi componenti dell'indice S&P 500 tradizionale, ma assegna a ciascun componente un peso fisso dello 0,2% durante il ribilanciamento trimestrale. Questa struttura offre un'esposizione diversa rispetto all'S&P 500 ponderato per capitalizzazione: al 20 dicembre 2024, i 400 componenti inferiori rappresentavano circa l'80% dell'EWI rispetto al solo 26% dell'indice standard.
Il lancio mira a fornire agli investitori strumenti aggiuntivi per la gestione del rischio e la diversificazione, soprattutto considerando l'aumento della concentrazione di mercato. Le opzioni verranno scambiate durante l'orario regolare dalle 9:30 alle 16:15 ET. Questa iniziativa amplia la gamma di prodotti basati sugli indici S&P DJI di Cboe, che include opzioni SPX, opzioni Mini SPX e vari indici di volatilità.
Cboe Global Markets (CBOE) ha anunciado planes para lanzar opciones sobre el S&P 500 Equal Weight Index (EWI) el 14 de abril de 2025, sujeto a revisión regulatoria. Las nuevas opciones liquidadas en efectivo estarán basadas en 1/10 del valor del S&P 500 EWI.
El S&P 500 EWI incluye los mismos componentes que el índice S&P 500 tradicional, pero asigna a cada componente un peso fijo del 0,2% durante el reequilibrio trimestral. Esta estructura ofrece una exposición diferente en comparación con el S&P 500 ponderado por capitalización: al 20 de diciembre de 2024, los 400 componentes inferiores representaban aproximadamente el 80% del EWI en comparación con solo el 26% en el índice estándar.
El lanzamiento tiene como objetivo proporcionar a los inversores herramientas adicionales para la gestión de riesgos y la diversificación, especialmente dado el aumento de la concentración del mercado. Las opciones se negociarán durante el horario regular de 9:30 a.m. ET a 4:15 p.m. ET. Esta iniciativa amplía la gama de productos basados en índices S&P DJI de Cboe, que incluye opciones SPX, opciones Mini SPX y varios índices de volatilidad.
Cboe Global Markets (CBOE)는 2025년 4월 14일에 S&P 500 Equal Weight Index (EWI)에 대한 옵션을 출시할 계획을 발표했습니다. 이는 규제 검토를 조건으로 합니다. 새로운 현금 결제 옵션은 S&P 500 EWI의 1/10의 가치를 기준으로 합니다.
S&P 500 EWI는 전통적인 S&P 500 지수와 동일한 구성 요소를 포함하지만, 분기별 재조정 시 각 구성 요소에 고정된 0.2%의 가중치를 부여합니다. 이 구조는 시가 총액 가중 S&P 500과는 다른 노출을 제공합니다. 2024년 12월 20일 기준으로 하위 400개 구성 요소는 EWI의 약 80%를 차지하며, 이는 표준 지수의 26%에 불과합니다.
이번 출시는 투자자들에게 위험 관리와 다각화를 위한 추가 도구를 제공하는 것을 목표로 하며, 특히 시장 집중도가 증가하고 있는 상황에서 그렇습니다. 옵션은 동부 표준시 기준 오전 9시 30분부터 오후 4시 15분까지 거래됩니다. 이 이니셔티브는 Cboe의 S&P DJI 지수 기반 제품군을 확장하며, 여기에는 SPX 옵션, Mini SPX 옵션 및 다양한 변동성 지수가 포함됩니다.
Cboe Global Markets (CBOE) a annoncé son intention de lancer des options sur l'S&P 500 Equal Weight Index (EWI) le 14 avril 2025, sous réserve d'une révision réglementaire. Les nouvelles options réglées en espèces seront basées sur 1/10 de la valeur de l'S&P 500 EWI.
L'S&P 500 EWI comprend les mêmes constituants que l'indice S&P 500 traditionnel, mais attribue à chaque composant un poids fixe de 0,2% lors du rééquilibrage trimestriel. Cette structure offre une exposition différente par rapport à l'S&P 500 pondéré par la capitalisation : au 20 décembre 2024, les 400 constituants les plus bas représentaient environ 80% de l'EWI contre seulement 26% dans l'indice standard.
Le lancement vise à fournir aux investisseurs des outils supplémentaires pour la gestion des risques et la diversification, notamment en raison de l'augmentation de la concentration du marché. Les options seront négociées pendant les heures normales, de 9h30 à 16h15 ET. Cette initiative élargit la gamme de produits basés sur les indices S&P DJI de Cboe, qui comprend des options SPX, des options Mini SPX et divers indices de volatilité.
Cboe Global Markets (CBOE) hat Pläne angekündigt, am 14. April 2025 Optionen auf den S&P 500 Equal Weight Index (EWI) einzuführen, vorbehaltlich der regulatorischen Überprüfung. Die neuen barabgewickelten Optionen basieren auf 1/10 des Wertes des S&P 500 EWI.
Der S&P 500 EWI umfasst die gleichen Bestandteile wie der traditionelle S&P 500 Index, weist jedoch jedem Bestandteil während der vierteljährlichen Neugewichtung ein festes Gewicht von 0,2% zu. Diese Struktur bietet eine andere Exposition im Vergleich zum kapitalisierungsgewichteten S&P 500: Am 20. Dezember 2024 machten die unteren 400 Bestandteile etwa 80% des EWI aus, während es im Standardindex nur 26% waren.
Der Launch zielt darauf ab, Investoren zusätzliche Werkzeuge für das Risikomanagement und die Diversifizierung zu bieten, insbesondere angesichts der zunehmenden Marktkonzentration. Die Optionen werden während der regulären Handelszeiten von 9:30 Uhr ET bis 16:15 Uhr ET gehandelt. Diese Initiative erweitert das Angebot von Cboe an S&P DJI indexbasierten Produkten, zu denen auch SPX-Optionen, Mini-SPX-Optionen und verschiedene Volatilitätsindizes gehören.
- Launch of new derivative product expanding Cboe's product portfolio
- Addresses market demand for diversification tools amid high concentration
- Provides investors with additional risk management options
- None.
Insights
Cboe's planned launch of S&P 500 Equal Weight Index (EWI) options represents a strategic product extension addressing investor concerns about increasing market concentration. The new options, launching April 14 pending regulatory approval, offer an alternative to traditional S&P 500 options by providing equal exposure to all index constituents.
The equal-weight methodology creates substantially different exposure characteristics - the bottom
This product addresses a specific market concern articulated by Cboe's Head of Product Innovation: "The U.S. equity market's increasing levels of concentration has led to market participants searching for additional tools." For institutional investors managing concentration risk, these options could provide a more efficient hedging mechanism than creating custom baskets of individual options.
For Cboe shareholders, this launch represents incremental rather than transformational growth - adding to their extensive index options lineup that includes SPX, XSP, and volatility products. The development showcases Cboe's continued product innovation and strengthens their relationship with S&P Dow Jones Indices, but its revenue impact will depend on adoption rates and trading volumes.
This strategic expansion demonstrates Cboe's responsiveness to evolving market conditions with a product that addresses current investor concerns while leveraging their established infrastructure.
- New options to be listed on the S&P 500 Equal Weight Index (EWI)
- S&P 500 EWI Index allocates each constituent a fixed weight at each quarterly rebalance
- Launch to meet evolving market exposure demand for additional choice in indices and derivatives
S&P 500 EWI options will be cash-settled and based on 1/10th the value of the S&P 500 EWI, the equal-weight version of the S&P 500 Index. The S&P 500 EWI includes the same constituents as the capitalization-weighted S&P 500 Index, but each constituent of the S&P 500 EWI is allocated a fixed weight of
The equal-weight design of the S&P 500 EWI aims to provide different exposure to the same constituents of the capitalization-weighted S&P 500 Index. For example, as of December 20, 2024, the bottom 400 constituents represented approximately
"The
S&P 500 EWI options may provide exposure to an index designed to be less impacted by a potential shift in concentration and momentum, and aim to offer investors the ability to hedge against potential swings in the largest S&P 500 stocks.
"For generations, The 500™ has been widely regarded as the best-single gauge of the
The planned S&P 500 EWI options launch is the latest innovation in the suite of products developed by Cboe based on S&P DJI indices. The suite includes tradable products such as the Cboe S&P 500 Index options (SPX), Mini SPX Options (XSP) and the recently launched Cboe S&P 500 Variance (VA) Futures, in addition to various volatility indices including the Cboe S&P 500 Dispersion Index (DSPX), Cboe S&P 500 Constituent Volatility Index (VIXEQ), and Cboe Implied Correlation® Indices. Cboe is currently developing a futures product on the DSPX Index to be listed on Cboe Futures Exchange (CFE), subject to regulatory review.
S&P 500 EWI options will be available during regular trading hours (RTH) between 9:30 a.m. ET and 4:15 p.m. ET. To learn more about the upcoming launch of the S&P 500 EWI options, visit the pre-launch resource hub here.
About Cboe Global Markets, Inc.
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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Cboe®, Cboe Global Markets®, Cboe Volatility Index®, FLEX®, VIX®, and XSP® are registered trademarks and VIXEQSM is a service mark of Cboe Exchange, Inc. or its affiliates. The S&P 500 Index and the S&P 500 Equal Weight Index are proprietary to S&P Dow Jones Indices LLC. S&P®, S&P 500®, The 500™, US 500™, SPX®, and DSPX are trademarks of Standard & Poor's Financial Services, LLC and have been licensed for use with the S&P 500 Index and the S&P 500 Equal Weight Index by Cboe Exchange, Inc. Cboe Exchange's options on the S&P 500 Index and the S&P 500 Equal Weight Index are not sponsored, endorsed, marketed or promoted by S&P Dow Jones Indices and S&P Dow Jones Indices does not have any liability with respect thereto. All other trademarks and service marks are the property of their respective owners. Cboe products are not sponsored, endorsed, sold, or promoted by S&P DJI and S&P DJI shall have no liability in connection with the trading of any such products.
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FAQ
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