Cboe to Launch Futures and Options on "Magnificent 10" Index, Targeting Tech Heavyweights

Cboe Global Markets is expanding its derivatives offerings with futures and options tied to a new "Magnificent 10" Index, set to launch in Q4 2025 pending regulatory approval. The index combines the dominant "Magnificent 7" tech stocks with three high-growth additions—Broadcom, Palantir, and AMD—representing 38% of the S&P 500's market value.

The MOVE challenges CME's dominance in index derivatives, with Cboe positioning the product as a tool for precise exposure to market-moving megacaps. "Traders demand smarter ways to access influential stocks and hedge risk around the clock," said Cathy Clay, Cboe's global head of derivatives, noting the basket approach mitigates single-stock concentration risk.

Mag10 futures will trade on Cboe's futures exchange, home to the VIX volatility benchmark. The launch coincides with Miami International Holdings' development of derivatives on the Bloomberg 500, signaling intensifying competition for thematic index products.