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MSCI® GLOBAL INDEX SUITE

A simpler way to trade global options

With the MSCI Product Suite, you can trade index options around the world while using the same exchanges, market structure and clearing accounts you use for US index options.

Easy to trade

Same exchange as US Index Options

Global exposures

Global exposures on leading indexes

More choices

Standard and weekly expirations

Tax benefits

60/40 tax treatment

Products at a Glance

NEW

MSCI ACWI Net Total Return USD Index

MXACW

Contract Specifications
NEW

MSCI World Net Total Return USD Index

MXWLD

Contract Specifications
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MSCI EAFE Price Return USD Index

MXEA

Contract Specifications
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MSCI Emerging Markets Price Return USD Index

MXEF

Contract Specifications
NEW

MSCI USA Gross Total Return USD Index

MXUSA

Contract Specifications

Track Utility Across the Globe

VXMXEA

Measures implied 30-day volatility for 21 developed markets

VXMXEA

Measures implied 30-day volatility for 21 developed markets

Tap into global, international and emerging markets options

Effectively hedge a global equity portfolio

This use case looks at how a pension that holds global equities in their portfolio can effectively hedge that exposure.
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Cost to insure against higher volatility appears low

Some institutional investors choose to hedge their downside exposure to market moves by using put options. But what is the cost today of insuring against that risk?
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Options for managing risk

Options linked to MSCI indexes have helped some investors manage their global exposures and portfolio risk. Trends have shown an increase in liquidity for exchange traded version.
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Enhancing yield on a global equity portfolio

This use case looks at how an asset manager that is currently running a yield overlay strategy on their US equity holdings can expand the strategy to their global equity portfolio and thereby diversify the sources of income.
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Potential to enhance portfolio risk efficiency

Index put write strategies may offer a cost-effective opportunity for improved risk efficiency, flexibility and liquidity in asset owner’s portfolios and may be implemented across a variety of traditional asset class indexes including the MSCI EM and MSCI EAFE.
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Cboe MSCI Emerging Markets PutWrite Index (PXEF)

PXEF is an index that tracks the hypothetical performance of an index cash-secured putwrite strategy.
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Diversification of client’s portfolio

This use case looks at how an RIA is able to use the newly expanded suite of MSCI index options to tactically over/underweight exposures to different countries or regions in order to give their clients diversified equity exposure.
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Improving diversification by harvesting premiums & cushioning risk

Wilshire Associates and Cboe have released a study examining the effectiveness of option-selling strategies on international, developed and emerging market equities.
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Cboe MSCI Emerging Markets Buywrite Index (BXEF)

The Wilshire paper explores the expanded efficient frontier with a 15% allocation to BXEF to a 60/40 portfolio. Check out the Cboe BXEF index that tracks the performance of a hypothetical buy-write strategy on the MXEF index.
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Key Resources

MXACW
MXWLD
MXEA
MXEF
MXUSA

Latest Market Insights

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Expertise you can trust. Get the latest market and volatility insights from industry expert Mandy Xu.

SPX® Skew in the 99th Percentile High as Downside Risks Rise
Derivative Market Intelligence

SPX® Skew in the 99th Percentile High as Downside Risks Rise

Following this weekend’s strikes by the US, oil markets remain fairly stable as investors wait for Iran’s response. WTI 1M implied volatility surged to as high as 68% last week before ending the week at 51%. The WTI 1M implied-realized vol spread has halved from a high of 30 pts to 14 currently, as fears of significant oil supply disruption have abated somewhat. Notably, US inflation expectations have barely budged on this latest jump in oil prices, in sharp contrast to the 2022 Russia/Ukraine invasion.

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There are important risks associated with transacting in any of the Cboe Company products discussed here. Before engaging in any transactions in those products, it is important for market participants to carefully review the disclosures and disclaimers contained at: Disclosures and Disclaimers Related to Cboe Options and Futures Products. These products are complex and are suitable only for sophisticated market participants. In certain jurisdictions, Cboe Company products are only permitted for investment professionals, certified sophisticated investors, or high net worth corporations and associations. These products involve the risk of loss, which can be substantial and, depending on the type of product, can exceed the amount of money deposited in establishing the position. Market participants should put at risk only funds that they can afford to lose without affecting their lifestyle.