Leading US brokerage firm Charles Schwab, in collaboration with major derivatives exchange Cboe, plans to offer its customers binary options contracts linked to the movements of the S&P 500 index. This development was reported on the 19th by The Wall Street Journal (WSJ), citing sources familiar with the matter.
Binary options, also known as all-or-nothing options, are contracts where the payout is determined by whether the index's closing price is above or below a pre-set target price at expiration...