List of Cash-Settled FLEX ETF Products

Cboe may list up to 50 cash-settled FLEX ETF products. These products shall be FLEX Equity Options with an ETF underlying security having an average daily notional value of $500 million or more and a national average daily volume of at least 4,680,000 shares, measured over the prior 6-month period.

Twice per year the Exchange will determine the underlying ETFs satisfying the notional value and trading volume requirements of this rule using trading statistics for the previous six-month period.

The Exchange will permit cash settlement as a contract term on no more than 50 underlying ETFs meeting the criteria of this rule.

If more than 50 ETFs satisfy the notional value and trading volume requirements, the Exchange will select the top 50 ETFs with the highest average daily volume.

If the Exchange determines, pursuant to the review conducted, that an underlying ETF ceases to satisfy the criteria, any new position entered into overlying such ETF will be required to have exercise settlement by physical delivery and any open cash-settled FLEX ETF Option positions may be traded only to close the position.