CME Group plans to launch binary options in a push to woo more retail traders, offering a type of contract that regulators in much of Europe have banned as a form of gambling.
The Chicago-based derivatives exchange operator on Tuesday said that its so-called event contracts would be offered in September, allowing “individuals to trade their views on daily up or down price moves” in CME futures markets such as the S&P 500 stock index, gold or crude oil.
Attracting retail traders is a “critical component” of the growth strategy at CME, company executives have said. The website for the new contracts depicts a simple yes-or-no question on which customers can place trades by swiping a phone screen.
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