Moomoo to Offer NYSE’s All-or-Nothing Stock Options to US Retail Traders
By Damian Chmiel
AI summary of the source article
Moomoo will offer the New York Stock Exchange's all-or-nothing stock options to US retail traders from launch. Each contract pays a fixed $100 or nothing based on where a stock or ETF closes at expiry.
Why it matters
According to Neil McDonald, chief executive of Moomoo US, this next chapter of options trading "should make it easier for investors to translate a market view into a trade."
Key facts
- Moomoo will distribute NYSE's binary stock options paying $100 or nothing at expiry to US retail clients.
- The initial product lineup covers six stocks and six ETFs, with five weekly expiries listed simultaneously.
- The contracts are SEC-regulated securities, and Moomoo also plans to offer them in Asia.
Source excerpt · Finance Magnates
Moomoo will offer the New York Stock Exchange's (NYSE) all-or-nothing stock options to US retail clients from launch, the broker said today (Wednesday). Each contract pays a fixed $100 or nothing, depending on where a stock or exchange-traded fund closes at expiry. The announcement puts a retail distributor behind the product NYSE outlined in October . Moomoo says it has more than 31 million users…