Cboe MAG-10 Futures

Pre-launch Resource Hub

What are Cboe Magnificent 10 (MGTN) Futures?

The Cboe Magnificent 10 (MGTN) Index is a thematic, equal-weighted benchmark designed to measure the price return of 10 U.S.-listed large-cap stocks of technology and growth-orientated companies. The MGTN Index currently includes all the Magnificent 7 stocks (Alphabet (GOOGL), Apple (AAPL), Amazon (AMZN), Meta (META), Microsoft (MSFT), Nvidia (NVDA), and Tesla (TSLA)), in addition to Advanced Micro Devices (AMD), Broadcom (AVG), and Palantir (PLTR). These stocks were selected based on their size, liquidity, and the technology-driven, growth-oriented nature of their businesses. Each stock is for a U.S.-listed company widely recognized as a market leader with significant influence on innovation, market dynamics, and consumer behavior.

Cboe plans to offer Magnificent 10 Index futures (referred to as MGTN futures or MAG-10 futures) for trading on Cboe Futures Exchange, LLC (CFE) in the fourth quarter of 2025. MGTN futures are cash-settled futures with A.M. settlement that settle on the third Friday of a month (or the prior CFE business day if the third Friday is a CFE holiday). MGTN futures will be available for trading on CFE during regular trading hours and extended trading hours and will be cleared by OCC.

Cboe also plans to offer MGTN options for trading on Cboe Exchange, Inc. (Cboe Options) to be cleared by OCC commencing in the fourth quarter of 2025.

Index Differentiators:

Precision Exposure: the Magnificent 10 Index enables investors to express tactical views on the most dynamic segment of the U.S. equity landscape (AI, cloud, and digital transformation) without the concentration risk of single-stock trading.
Equal Weighting: Monthly rebalances ensure no single stock dominates, offering a more balanced alternative to market-cap-weighted indices like QQQ and MGK.
Fixed Constituents: The same 10 stocks remain unchanged, ensuring stability, transparency, and predictability for traders. Constituent changes occur only when triggered by a corporate action.

Index Futures Benefits:

Cash Settlement: Eliminates delivery risk and operational complexity.
Global Access: Nearly 24x5 trading hours support international investors and mobile-first platforms.

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Cboe Futures Exchange (CFE^®) Rules

The CFE Rulebook includes rules that govern trading on CFE. The Policies and Procedures section contains policies and procedures that supplement the rules in the CFE Rulebook. These documents will be updated to include rules relating to MGTN futures upon the launch of the product.

Contact Us

Global Sales	CFE Market Data	CFE Trade Desk
Natalie Reed [email protected]	Market Data Services [email protected] 212-378-8821	CFE Trade Desk [email protected] 312-786-8700

Disclaimers:

This information is a high-level overview of what is currently contemplated. The information included is subject to change and to more detailed provisions that would be put in place in connection with the planned launch of Cboe Magnificent 10 Index futures. Additionally, the planned launch of Cboe Magnificent 10 Index futures remains subject to regulatory review.

This information is provided for general education and information purposes only. No statement provided should be construed as a recommendation to buy or sell a security, future, option on a future, security future, digital asset, financial instrument, investment fund, or other investment product (collectively, a “financial product”), or to provide investment advice.

Trading in futures and options on futures is not suitable for all market participants and involves the risk of loss, which can be substantial and can exceed the amount of money deposited for a futures or options on futures position. You should, therefore, carefully consider whether trading in futures and options on futures is suitable for you in light of your circumstances and financial resources. You should put at risk only funds that you can afford to lose without affecting your lifestyle. For additional information regarding the risks associated with trading futures and options on futures and with trading security futures, see respectively the Risk Disclosure Statement Referenced in CFTC Letter 16-82 and the Risk Disclosure Statement for Security Futures Contracts. Certain risks associated with options, futures, and options on futures and certain disclosures relating to information provided regarding these products are also highlighted at https://www.cboe.com/us_disclaimers.

Hypothetical scenarios are provided for illustrative purposes only. The actual performance of financial products can differ significantly from the performance of a hypothetical scenario due to execution timing, market disruptions, lack of liquidity, brokerage expenses, transaction costs, tax consequences, and other considerations that may not be applicable to the hypothetical scenario.