MEMX proposes Cboe-style binary options on company metrics
MEMX filed to list binary options tied to company earnings, revenue and operating metrics. The exchange plans a separate filing to name its clearing agency.
US securities exchange MEMX filed a rule proposal on 9 November to list binary options tied to company results. The proposed metrics include Nvidia’s data centre revenue, Robinhood’s funded customer count and Tesla’s Model 3/Y production.
MEMX says it wants to list options on the same issuers and metrics, with the same contract terms, as those approved for Cboe. The SEC’s rulemaking register also records the withdrawal of MEMX’s August securities event-contract proposal on 9 November.
MEMX still has to name a clearing agency
The new filing covers the listing and trading rules. MEMX says it will file separately to designate a registered clearing agency. It says it will wait until that agency is ready to clear the options, the relevant regulatory requirements are met and the required options disclosure is in place. The filing gives no launch date.
The SEC approved Cboe’s listing and clearing rules in October. Rothera has pursued a separate route, receiving CFTC approval for a Tesla KPI swap. The products can reference the same company metric while trading under different regulatory frameworks. For MEMX, the next decisions are whether the SEC approves the proposal and who would clear the contracts.
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