Cboe Quietly Tweaks Obscure Options Admin Rules
Published Date: 3/31/2025
Notice
Summary
Cboe Exchange is updating the names and rules for some of its options tied to the S&P 500 ESG and Equal Weight Indexes. This means the S&P 500 ESG Index is now called the S&P 500 Scored & Screened Index, and new options for the Equal Weight Index are officially added for trading. These changes take effect immediately and help keep trading smooth and clear for investors.
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
S&P 500 ESG Index Renamed
The S&P 500 ESG Index was renamed the "S&P 500 Scored & Screened Index" and Cboe amended Rules 4.12(c), 4.13(a)(2),(3),(4), 5.1(b)(2)(A), and 5.50(g) to reflect that new name. These are administrative changes filed on March 14, 2025 and are intended to remove confusion; they do not change how SPESG options trade on the Exchange.
Equal-Weight S&P 500 Options Added
Cboe added the S&P 500 Equal Weight Index (full value) and a reduced value equal-weight index (one-tenth value) to its rules so that SPEQF and SPEQX options are eligible to be listed for trading pursuant to Rule 4.13(f) and Rule 19b-4(e). The filing (March 14, 2025) also specifies that the current index value of SPEQX will be 1/10th the value of the S&P 500 Equal Weight Index as reported by S&P Dow Jones Indices; Cboe says these administrative changes do not affect how those options trade.
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