Ah but that one does! Very very interesting. Hard to believe. Demutualization has brought democracy, something that Chicago markets desperately need.
Not exactly what we have been waiting for. These are SPX PM settled options. Slightly different from the pit traded SPX options currently traded that expire in the morning.
I think the PM settlement is better as well. You don't have the morning mark risk. The question is what the liquidity will be like compared the the pit traded product. The pit actually has very deep tight markets, they just don't quote them on the screen, so it is a tough product to trade for the average retail investor.
i expect it to have reasonable markets for width and depth from the beginning. all the larger market making groups already stream quotes into other index products. adding one more isn't a big deal. guess it will depend on if they have C2 trading permits when it's launched.