MSCI Index Options Get Smoother Trading Rules on NYSE
Published Date: 2/23/2026
Notice
Summary
NYSE Arca is making it easier to trade and transfer options tied to the MSCI EAFE and Emerging Markets Indexes. These options will follow new rules similar to those used by the Chicago Board Options Exchange, with trades settling in cash after the market closes. This change starts right away and could open up smoother, faster trading for investors dealing with these global market options.
Analyzed Economic Effects
4 provisions identified: 2 benefits, 2 costs, 0 mixed.
NYSE Arca Adds MSCI EAFE & EM Options
You may be able to trade options tied to the MSCI EAFE Index and the MSCI Emerging Markets Index on NYSE Arca. These contracts are P.M., cash‑settled with European‑style exercise and the Exchange adopted rules based on CBOE to facilitate the transfer and trading of those options.
Position Limits Set at 50,000 Contracts
If you trade these MSCI index options, the Exchange sets position limits at 50,000 contracts on the same side of the market. The same 50,000‑contract limit also applies for exercise limits and FLEX index options on these indices.
Contract Size, Tick, Strike, Expiry Rules
These MSCI index options will have a contract multiplier of $100 (one index point = $100). Minimum quoting increments are $0.05 for series trading below $3 (equal to $5.00) and $0.10 for series at or above $3 (equal to $10.00); strike intervals are 2.5 points when strikes are below 200 and 5 points when strikes are 200 or above. The Exchange may list up to 12 near‑term monthly expirations, up to 10 LEAPS with expirations between 12 and 180 months, and Short Term weekly expirations (P.M.‑settled).
PM Cash Settlement and Timing Rules
If you hold these options at expiration, exercise will be P.M. cash settlement and result in a cash payment on the business day following expiration. The exercise settlement value will be the official MSCI closing value as reported by MSCI, and the last trading day for expiring series is the business day before expiration.
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