Cboe MSCI Index Options
Options on the MSCI® EAFE® (MXEA) and MSCI Emerging Markets (MXEF) indices enable market participants to efficiently manage global equity exposure, mitigate portfolio risk, and generate additional options premium income.
MSCI EAFE Index (USD)
Designed to track the MSCI EAFE® Index that comprises the performance of large and mid-cap securities across 21 developed markets, including countries in Europe, Australasia and the Far East, excluding the U.S. and Canada.
MSCI Emerging Markets Index (USD)
The MSCI Emerging Markets Index (ticker MXEF) captures large- and mid-cap representation across 26 Emerging Markets (EM) countries.
Key Benefits
- Capital Efficient
- Approximately 25 to 30 times the size of comparable ETF options, MSCI Index options offer exposure to larger notional and potentially better 60/40 tax treatment*.
- Easy to Trade
- These contracts are cash-settled, European-style options where there's no unwanted delivery of shares or risk of early assignment.
- More Choices
- Fine tune your global equity index exposure with FLEX, weekly, quarterly and end-of-month (EOM) expiring options contracts.
- Leading Liquidity
- Access real-time prices and source liquidity on-and-off screen via central order books and complex open outcry.
Comparison of MSCI Options Products
| Features | MSCI EAFE | iShares EAFE ETF | Emerging Markets | iShares EEM ETF |
|---|---|---|---|---|
| Options Chain / Root Ticker Symbol | MXEA | EFA | MXEF | EEM |
| Settlement Type | PM-Settled | PM-Settled | PM-Settled | PM-Settled |
| Approx. Size | ||||
| Exercise Style | European | American | European | American |
| Settlement Type | Cash | ETF Shares | Cash | ETF Shares |
Market Data
Resources
- Delayed Quotes
- Index Settlement Values
- Fee Schedule
- Quote Vendor Symbols
Trading Resources
Cboe works with the world's leading index providers to merge innovation and responsibility to empower market participants to manage risk.
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Whitepapers
Provided by Wilshire
Improving Diversification by Harvesting Premiums & Cushioning Risk: Cboe MSCI Option Benchmark Analysis
Read the ReportExplore Other Equity Index Options
*Under section 1256 of the Tax Code, profit and loss on transactions in certain exchange-traded options, including MSCI, are entitled to be taxed at a rate equal to 60% long-term and 40% short-term capital gain or loss, provided that the investor involved and the strategy employed satisfy the criteria of the Tax Code. Investors should consult with their tax advisors to determine how the profit and loss on any particular option strategy will be taxed. Tax laws and regulations change from time to time and may be subject to varying interpretations.