Cboe Relative Performance Futures

Pre-launch Resource Hub

The Pre-launch Resource Hub is designed to provide market participants with information regarding planned Cboe products, including information that may be useful in preparing to trade Cboe products on their day one launch.

If there is other information that you would like to see provided here, please contact us.

What are Cboe® Relative Performance Futures?

Cboe relative performance futures include Cboe U.S. Lead 50 (LD) Futures and Cboe U.S. Lag 50 (LG) Futures. Cboe plans to offer LD and LG futures for trading on Cboe Futures Exchange, LLC (CFE).

LD futures are cash-settled futures on the Cboe U.S. Lead 50 (“LEADX”) Index. The LEADX Index will measure the total return of the 50 best performing stocks among the 100 constituent stocks included in the Cboe U.S. Large-Mid Cap 100 (“CEQX”) Index based on the total reinvested return of each constituent stock from the previous rebalance date of the CEQX Index to the LEADX Index observation time.

LG futures are cash-settled futures on the Cboe U.S. Lag 50 (“LAGX”) Index. The LAGX Index will measure the total return of the 50 lowest performing stocks among the 100 constituent stocks included in the CEQX Index based on the total reinvested return of each constituent stock from the previous rebalance date of the CEQX Index to the LAGX Index observation time.

LD and LG futures may offer opportunities for market participants to engage in trading strategies relating to realized dispersion, a measure of independent movement observed in the components of a diversified portfolio.

Resources

Document Name Date
Current Cboe® U.S. Lead 50 Futures Product Specifications Jan 21, 2025
Current Cboe® U.S. Lag 50 Futures Product Specifications Jan 21, 2025
Cboe® U.S. Large-Mid Cap 100 Index Methodology Jan 13, 2025
Cboe® U.S. Large-Mid Cap 100 Index FAQ’s Coming Soon

Cboe Futures Exchange (CFE®) Rules

The CFE Rulebook includes rules that govern trading on CFE. The Policies and Procedures section contains policies and procedures that supplement the rules in the CFE Rulebook. These documents will be updated to include rules relating to LD and LG futures upon the launch of the products.

Contact Us

Global Sales CFE Market Data CFE Trade Desk
Natalie Reed
Director of Global Derivatives Sales
[email protected]
Market Data Services
[email protected]
212-378-8821
CFE Trade Desk
[email protected]
312-786-8700

Disclaimers:
This information is a high-level overview of what is currently contemplated. The information included is subject to change and to more detailed provisions that would be put in place in connection with the planned launch of Cboe U.S. Lead 50 (LD) futures and Cboe U.S. Lag 50 (LG) futures. Additionally, the planned launch of LD and LG futures remains subject to regulatory review.

This information is provided for general education and information purposes only. No statement provided should be construed as a recommendation to buy or sell a security, future, option on a future, security future, digital asset, financial instrument, investment fund, or other investment product (collectively, a “financial product”), or to provide investment advice.

Trading in futures and options on futures is not suitable for all market participants and involves the risk of loss, which can be substantial and can exceed the amount of money deposited for a futures or options on futures position. You should, therefore, carefully consider whether trading in futures and options on futures is suitable for you in light of your circumstances and financial resources. You should put at risk only funds that you can afford to lose without affecting your lifestyle. For additional information regarding the risks associated with trading futures and options on futures and with trading security futures, see respectively the Risk Disclosure Statement Referenced in CFTC Letter 16-82 and the Risk Disclosure Statement for Security Futures Contracts. Certain risks associated with options, futures, and options on futures and certain disclosures relating to information provided regarding these products are also highlighted at https://www.cboe.com/us_disclaimers.

Hypothetical scenarios are provided for illustrative purposes only. The actual performance of financial products can differ significantly from the performance of a hypothetical scenario due to execution timing, market disruptions, lack of liquidity, brokerage expenses, transaction costs, tax consequences, and other considerations that may not be applicable to the hypothetical scenario.

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