The Securities and Exchange Commission has granted approval to a rule filing by CBOE Holdings to launch a new index option product. The SPXpm will be a cash-settled index option based on the S&P 500 Index. The product will be launched on a pilot basis and trade on CBOE’s electronic bourse C2 Options Exchange. The launch will help offer liquidity to trade the S&P 500 Index by trading SPXpm electronically on C2 and trading SPX AM to negotiate complex orders afforded by floor trading at CBOE.

Click here for the release from CBOE Holdings.