Cboe Global Markets’ pan-European derivatives marketplace, Cboe Europe Derivatives (CEDX), has announced plans to launch Cboe FLexible EXchange options (FLEX options) in Europe. The firm reveals in a press release that the product was designed to address a “rising global demand for defined-outcome ETFs and bespoke investment strategies”.
FLEX options enable market participants to customise key contract terms – such as strike price, expiration date, settlement type, and exercise style – for options on stock indices, individual equities, and ETFs in the regulated environment of a stock exchange. Cboe states, “These products combine the flexibility of over-the-counter (OTC) derivatives with the transparency, efficiency, and risk mitigation benefits of exchange-traded products.”
FLEX options are not new to Cboe. The firm first introduced them in the US market in 1993. Open interest in the contracts has significantly increased in recent years, jumping from two million in 2019 to 35 million so far in 2025.
CEDX intends to launch FLEX options in Q1 of 2026 with “a select set of underlyings” that includes single country and pan-European Cboe Europe equity indices, individual equities, and ETFs. The coverage will be expanded throughout 2026. The clearing and settlement will be handled by Cboe Clear Europe.
