News Release

CME Group Announces the Launch of Weekly S&P Options Contracts

Wed Jul 15 2009

 

 

CHICAGO, July 15 /PRNewswire-FirstCall/ -- CME Group, the world's largest and most diverse derivatives exchange, today announced the launch of S&P 500® Weekly Options contracts scheduled to begin trading August 24. These contracts are listed with, and subject to, the rules and regulations of the Chicago Mercantile Exchange.

 

Weekly options on standard and E-mini® S&P 500 futures contracts will expire European-style on the first and second Friday of each month. The new product will complete the suite of S&P 500 options products that include end of month, serial and quarterly expiration cycles.

 

"With the launch of the two weekly contracts, CME Group continues to meet customer demand for flexible option expirations," said Thomas Boggs, CME Group Director of Equity Products and Services. "Expanding the number of expirations not only provides for more trading opportunities, the increased flexibility also can provide for more efficient position management."

 

At expiration, the exchange will calculate a special fixing price (applied to both the E-mini and standard-size S&P 500 weekly options) based on the weighted-average trading price of E-mini S&P 500 futures in the last 30 seconds (2:59:30 - 3:00:00) before the 3:00 pm options expiration. This price will be disseminated immediately using the symbol ESF.

 

Standard S&P Weekly Options will trade daily from 8:30 a.m. to 3:15 p.m. Chicago time in open outcry and on CME Globex® Monday through Thursday 3:30 p.m. to 8:15 a.m. with a 30-minute pause for maintenance from 4:30 p.m. to 5:00 p.m. and Sunday from 5:00 p.m. to 8:15 a.m. E-mini S&P Weekly Options will trade Monday through Thursday from 5:00 p.m. to 3:15 p.m. with a 30-minute pause for maintenance 4:30 p.m. to 5:00 p.m. and Sunday from 5:00 p.m. to 3:15 p.m.

 

CME Group (www.cmegroup.com) is the world's largest and most diverse derivatives exchange. Building on the heritage of CME, CBOT and NYMEX, CME Group serves the risk management needs of customers around the globe. As an international marketplace, CME Group brings buyers and sellers together on the CME Globex electronic trading platform and on trading floors in Chicago and New York. By acting as the buyer to every seller and the seller to every buyer, CME Clearing virtually eliminates counterparty credit risk. CME Clearing also offers financial safeguards to help mitigate systemic risk, providing the security and confidence market participants need to operate, invest and grow. CME Group offers the widest range of benchmark products available across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, and alternative investment products such as weather and real estate. CME Group is listed on NASDAQ under the symbol "CME."

 

The Globe logo, CME, Chicago Mercantile Exchange, CME Group, Globex, E-mini and CME ClearPort are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of the Board of Trade of the City of Chicago. NYMEX and New York Mercantile Exchange are trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. All other trademarks are the property of their respective owners. Further information about CME Group and its products can be found at www.cmegroup.com.

 

CME-G

 

 

,

SOURCE CME Group

SOURCE: CME Group

Web site: http://www.cme.com/

Corporate Communications

+1 312 930 3434
Email