Charles Schwab (SCHW) said Wednesday that its unit Charles Schwab Futures & Forex has launched single stock futures for more than 50 US stocks in the S&P 500 and Nasdaq-100.
These futures are cash-settled futures contracts based on the underlying price movement of an individual company at a set future date, with each standard contract representing 100 shares of the underlying stock, the US brokerage firm said.
Single stock futures offer straightforward price exposure, a way to react to news outside of standard market hours, the company said.
Single stock futures are available now on the Thinkorswim trading platforms and traded on the Chicago Mercantile Exchange, Charles Schwab said.
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