Beginning today, options on the Nasdaq Composite Index will be traded at the Philadelphia Stock Exchange (PHLX).

The Nasdaq Composite Index is a market capitalization-weighted index of all the common stocks listed on Nasdaq. The PHLX will trade put and call options in both full-size contract and the mini contract sizes. These cash-settled index options are available exclusively on PHLX. Susquehanna Investment Group will act as specialist in this new product.

“Options on the Nasdaq Composite Index are an important step in making the entire basket of Nasdaq securities accessible to a larger segment of retail investors, institutions and professional traders,” said John Jacobs, CEO, Nasdaq Financial Products, Inc., in a news release. “With its long tradition of supporting innovative financial instruments and its success in index options, The Philadelphia Stock Exchange is well-suited to help Nasdaq in making another investment product based on the Nasdaq Composite Index an available to investors.”

Meyer “Sandy” Frucher, chairman and CEO of the Philadelphia Stock Exchange, said, “We’re confident that this product will draw substantial interest from professional and retail investors.”