Charles Schwab and Cboe Partner on Daily S&P 500 Binary Options for Retail Traders
Charles Schwab is partnering with Cboe Global Markets to develop daily yes-or-no binary options on the S&P 500, allowing retail traders to bet on whether the index closes at a certain level. The contracts would pay a fixed amount if correct and nothing if wrong, bringing prediction-market-style trading to a mainstream brokerage platform. This move signals the growing integration of event-based trading products into traditional finance.
Key quotes
The planned contracts would function like binary options, paying a fixed cash amount if a trader is correct about where the index closes and paying nothing if the prediction is wrong.
The move is notable because it brings a prediction-market-style experience closer to one of the largest mainstream brokerage platforms in the United States.
Event-Style Trading Moves Further Into TradFi
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