The companies, products and regulatory developments shaping the broker industry.
Cboe’s new MRUT binary options began trading on 9 November through a securities-market clearing structure, distinct from commodity-regulated event contracts.
The clearing house can extend beyond its CFTC derivatives organisation scope into specified securities products, with Cboe’s first KPI options planned for a later launch.
MIAX has filed for cash-settled binary index and KPI options; the intended index launch is conditional on 2027 regulatory and operational milestones.
The exchange has filed separate rules for cash-settled index-threshold and corporate-KPI options; neither product family is live or SEC-approved.
A detailed SEC order gives Cboe Clear U.S. an 18-month temporary securities clearing registration for cash-settled binary options, including proposed issuer KPI contracts.
The technical schedule specifies 26 October for MRTBW. Fixed terminal payments require a different payoff explanation from conventional MRUT options.
The 22 October order lasts no more than 18 months and includes targeted participant-related exemptions. Cboe’s planned corporate KPI options listing and Robinhood availability remain separate Q4 steps.
The new customer fee calculation smooths price-band jumps while leaving some executions more expensive than before.
The approved framework creates cash-settled exposure to defined company metrics, with a normal $1 payout. The operative order specifies the settlement evidence and clearing requirements that must accompany the route to launch.