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Nasdaq launching choices on the Nasdaq-100 Micro Index By Reuters 

© Reuters. FILE PHOTO: FILE PHOTO: The Nasdaq brand is displayed on the Nasdaq Market web site in New York

NEW YORK (Reuters) – Nasdaq Inc on Thursday mentioned it was launching choices on the Nasdaq-100 Micro Index as a lower-cost approach for retail traders to achieve publicity to the favored .

Retail traders have entered the securities markets in droves over the previous 12 months as massive retail brokers have dropped buying and selling commissions, coronavirus lockdowns pressured folks to make money working from home, and as “meme shares,” like GameStop Corp (NYSE:) and AMC Leisure (NYSE:), soared in worth in January.

“Choice investor engagement is at an necessary inflection level, with newer contributors embracing the choices market like by no means earlier than,” mentioned Greg Ferrari (NYSE:), head of U.S. choices for Nasdaq.

The Nasdaq-100 Micro Index was launched in January and is 1/a hundredth the scale the Nasdaq 100 Index, which incorporates 100 of the most important non-financial firms listed by Nasdaq primarily based on market capitalization. Invesco’s QQQ exchange-traded fund is linked to the index.

Nasdaq mentioned on Wednesday its first-quarter indexing revenues rose 40% year-over-year to $29 million, pushed partly by increased licensing revenues from futures buying and selling linked to the tech-heavy Nasdaq-100 Index.

Traders use choices to hedge threat, improve returns, and speculate on market course.

New York-based Nasdaq mentioned the brand new choices contracts can be obtainable for month-to-month expirations, with weekly expirations set to launch in late Could.

The Nasdaq 100 Index closed up 0.91% at $13,935.15 on Wednesday, whereas the Nasdaq-100 Micro Index closed up the identical quantity at $139.35.

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