NYSE Arca Applies to SEC for Binary KPI Options Linked to Earnings Metrics of Companies like Coinbase

NYSE Arca has submitted a rule change application to the U.S. SEC to launch Binary KPI Options. This product is based on key performance indicators (KPIs) from companies' earnings reports submitted to the SEC, with a cash settlement method that is all-or-nothing. The first batch of underlying companies includes 23 firms, such as Coinbase (trading revenue, trading volume, subscription revenue, etc.) and Marathon Digital Holdings (BTC production, BTC holdings, hash rate, etc.). This product allows investors to hedge or speculate on individual metrics from corporate earnings reports, structured similarly to on-chain prediction markets, but will operate within the framework of a securities exchange regulated by the SEC.

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