I'm looking for a retail broker to trade the new FTSE China 50 Mini Index options (http://www.cboe.com/micro/fxtm/). Interactive Brokers either doesn't have them or they're hidden and their customer service team is hopelessly unable to find them, to handle the obvious answer, and my regular broker doesn't either.
Why would you want to trade those when all the real action is in FTSE A50 futures on SGX? This is just CME doing it's thing.
"Options on FTSE China 50 Mini Index (FXTM) The FTSE China 50 Index is a real-time tradable index comprising 50 of the largest and most Chinese stocks (H Shares, Red Chips, and P Chips) listed and trading on the Stock Exchange of Hong Kong (SEHK). The index is specifically designed for international investors [...] Key Features of FXTM options: • Cash-settlement - no delivery of stocks or ETF's. • No Early Exercise - European style and AM settlement only on the Expiration Date. • Price and Quote Transparency - Competitive Auction Markets. • Clearance of Transactions - Options Clearing Corporation is the counterparty to each trade. ..." (Source: http://www.cboe.com/micro/fxtm/ ) That's indeed good and long awaited news! Thx CBOE, Sig. As to the "why" questions in the thread: Because China means big... ;-)
Just checking: http://markets.ft.com/research/Markets/Tearsheets/Summary?s=HSC50:HKG 4.53bn Shares traded (for today?)
To answer the questions, I need to trade this exact index and I need cash settled options. This product delivers both of those, and I don't know of another product that does but if anyone knows of one I'd be happy to hear more about it. Note that this is the CBOE product, not a CME product. As Robert said it's very similar to SPX and you'd think the brokers would just add it. CBOE changed RUT to a PM settle the same week as they introduced this and that product is tradable, I just haven't found anyone who's added FXTM. Perhaps because the RUT symbol stayed the same as the old AM settled RUT they're carrying a "new" product without even realizing it. Anyway, I'm still left with the question, does anyone know of a retail broker who allows one to trade this product? Thanks.
I called the CBOE because the symbol does not seem active yet. They will get back to me. I don't think it is trading yet.
Commencing March 29, 2016, Chicago Board Options Exchange, Incorporated (“CBOE”) will list new options on two (2) FTSE Indexes. This circular announces certain operational systems settings for these new Index options. The new classes will be listed on CBOE only, not on C2.
Wow, thanks. That's the kind of detailed response that makes me think "It might be nice to have Robert as my IB"!