Cboe Global Indices is a leader in the creation and dissemination of volatility and derivatives-based indices, offering services that span product design, calculation, administration, listing, trading, and benchmark licensing. As the largest U.S. options exchange operator, Cboe’s pool of derivatives data and proprietary pricing algorithms enable its Global Indices team to develop complex index concepts that are central to Cboe’s ecosystem. Read on for a recap of the Cboe Global Indices launches and milestones achieved in the fourth quarter of 2025.
Index Launches in Q4 2025
Cboe launched six new indices in the fourth quarter of 2025.
- Cboe Magnificent 10 Index (MGTN) – an equal-weighted equity index designed to measure the price return of a select group of large-cap U.S. technology and growth-oriented companies with listed options. The Index initially comprises the common stocks of Broadcom Inc. (AVGO), Alphabet Inc. (GOOGL), Tesla Inc. (TSLA), Meta Platforms Inc. (META), Microsoft Corporation (MSFT), Amazon.com Inc. (AMZN), Apple Inc. (AAPL), NVIDIA Corporation (NVDA), Palantir Technologies Inc. (PLTR) and Advanced Micro Devices, Inc. (AMD). The index is reweighted monthly.
- Cboe Semiconductor ETF Volatility Index (VXSMH), Cboe Gold Miners ETF Volatility Index (VXGDX), Cboe China Large-Cap ETF Volatility Index (VXFXI) – these three ETF volatility indices aim to track the expected 30-day volatility of returns on the VanEck Semiconductor ETF (SMH), the VanEck Gold Miners ETF (GDX) and the iShares China Large-Cap ETF (FXI).
- Cboe TLT 2% OTM BuyWrite NTR Index JPY (BXTBJPY) – The BXTBJPY Index measures the performance of the net total return version of the BXTB Index in Japanese Yen. The index assumes a 10% tax rate applied to option premiums and is calculated on Japanese Stock Exchange calendar.
- Cboe S&P 500 Enhanced 1% OTM BuyWrite NTR Index JPY (BXVBWJPY) – Another JPY-denominated index, the BXVBWJPY Index measures the performance of the net total return version of the Cboe S&P 500 Enhanced 1% OTM BuyWrite Index (BXVBW) in Japanese Yen. The index assumes a 10% tax rate applied on dividends and option premiums. The index is calculated on Japanese Stock Exchange calendar.
- Cboe Nasdaq-100 BuyWrite V2 NTR Index CAD (BXNTNCAD) – The BXNTNCAD Index is another addition to Cboe’s CAD-denominated indices. The index is based on the net total return version of the Cboe NASDAQ-100 BuyWrite V2 Index (BXNT) denominated in Canadian Dollar. The index assumes a 15% tax rate on dividends.
- Cboe S&P 500 BuyWrite NTR Index CAD (BXMNCAD) – The BXMNCAD Index is a CAD-denominated index based on the net total return version of the S&P 500 Buy-Write Index (BXM). The index assumes a 15% tax rate on dividends.
Notable Milestones
- Global X’s Nasdaq 100 Covered Call ETF (QYLD) — which references the Cboe Nasdaq 100 BuyWrite V2 Index (BXNT) as its benchmark — reached the $8 billion AUM mark.
- Global X’s S&P 500 Covered Call ETF (XYLD) — referencing the Cboe S&P 500 BuyWrite Index (BXM) as its benchmark — surpassed the $3 billion AUM mark this quarter.
- In November, BlackRock introduced two new ETFs (453A and 452A) in Japan, linked to Cboe’s JPY-denominated BuyWrite indices, BXTBJPY and BXVBWJPY. Dive deeper on Cboe Insights for full details.
- Trading in futures and options on the much-anticipated Cboe Magnificent 10 Index (MGTN) officially began on December 8. Check out the press release for more details.
Cboe Insights
- In Cboe’s latest Tales of the Tape episode, Chris Bialka, Vice President, Head of Cboe Global Indices and Fabrice Hugon Managing Director, Global Head of Solutions for Financial Intermediaries at Citi, joined host Spencer Doar to unpack the latest developments of U.S. structured products and how index providers feature in this ecosystem.
- The newest edition of Index Insights offers a comprehensive summary of performance indicators for Cboe’s suite of indices throughout November.
- A new Cboe Insights article shares more details about the recent launches of the JPY-denominated indices.
Cboe Global Indices Feed
Cboe’s latest index data can be accessed through the Cboe Global Indices Feed (CGIF). This is Cboe’s streaming index data feed which delivers real-time values to market participants. The CGIF is a premier source for volatility and derivative-based index values. The full list of CGIF’s product offerings can be found here.
The information provided is for general education and information purposes only. No statement provided should be construed as a recommendation to buy or sell a security, future, financial instrument, investment fund, or other investment product (collectively, a “financial product”), or to provide investment advice.
