Charles Schwab is working with Cboe on daily yes-or-no S&P 500 options, according to reports, bringing prediction-market-style trading closer to retail brokerage users.
WSJ says Schwab is working with Cboe on S&P 500 prediction-style products, while Cboe's Mini-SPX materials show how Wall Street can package yes-or-no trades inside listed options.
Charles Schwab is reportedly exploring S&P 500-linked event contracts with Cboe as prediction-market style products move toward mainstream finance.
The offering from the financial services company will reportedly only include yes-or-no bets on whether the S&P 500 closes above or below a target price.
Charles Schwab is working with Cboe to offer S&P 500 binary options with fixed and partial payouts in the coming months.
Global financial institution Charles Schwab is the latest firm hoping to steal a piece of the growing prediction market pie.
Charles Schwab has entered the prediction markets business through a partnership with Cboe Global Markets, introducing new contracts tied to the performance of the S&P 500. According to a Wall Street Journal report, the brokerage firm is working with Cboe…