BOX Exchange Seeks OK for 1,000-Share Options on S&P 500 ETF

BOX Options Exchange, owned by the operator of the Toronto stock market and seven brokers, asked regulators for permission to trade so-called jumbo contracts on the most active exchange-traded fund.

The Chicago-based exchange plans to trade contracts based on 1,000 shares of the SPDR S&P 500 ETF Trust, according to its request. Most contracts are based on 100 shares. BOX’s offering would be roughly the same size as Standard & Poor’s 500 Index options, which trade exclusively on the Chicago Board Options Exchange. The jumbo options could be traded on any venue if the Securities and Exchange Commission approves the contract.