Cboe is preparing order handling that links its existing SPX contracts with forthcoming SPXO weekly options. A 19 October SEC notice describes the exchange’s related-group changes, filed on 9 October.[1]
The product’s underlying listing authority was approved on 12 June. That order permitted additional AM-settled weekly and month-end SPX expirations. October’s filing addresses how groups within the same options class interact once the new contracts arrive.[3]
Cboe’s launch notice schedules SPXO trading from 9 November, subject to regulatory review. The contracts will settle against the SPX opening settlement value, SET. The first planned expirations are 18 November and 16 December, aligned with monthly VIX settlement dates; further weekly expirations are to follow.[2]
Published launch arrangements
| Feature | SPX | SPXO |
|---|---|---|
| Allocation | Pro-rata unchanged | Price-time |
| Matching unit | 33 | 33 |
| Expiry pattern covered here | Standard AM-settled monthlies | New AM-settled weeklies |
| Minimum positive-price quote size | Existing requirements unchanged | One contract |
For designated related groups, a qualifying complex order may execute its component legs against their individual order books. SPX and SPXO share a matching engine. SPXW uses another engine, so an SPX/SPXW combination remains outside this new route. Existing legging restrictions continue to apply.[1]
Cboe’s launch notice says existing SPX risk rules will automatically apply to SPXO, and firms will not be able to configure separate SPXO risk limits. Brokers therefore need to size the allowance for combined SPX/SPXO activity. SPXW remains separately configurable because it runs on another matching engine.[2]
The operational distinction matters for a spread trader: adding another expiry can change the available execution route as well as the exposure being hedged. Brokers preparing the product should test the relationship between instrument identifiers, allocation and controls. Cboe’s notice set 5 October for certification testing.[2]
The filing became legally effective on submission under the non-controversial procedure, with a 30-day operative delay unless shortened by the SEC. The 19 October notice is therefore not a completed trading launch.[1]
Sources & further reading
- SR-CBOE-2026-081: related-group orders and risk controls Securities and Exchange Commission · 19 Oct 2026 · Accessed 29 Oct 2026
- SPXO launch notice C2026090300 Cboe · 3 Sep 2026 · Accessed 29 Oct 2026
- SR-CBOE-2026-044: approval of AM-settled nonstandard SPX expirations Securities and Exchange Commission · 12 Jun 2026 · Accessed 29 Oct 2026