币安备受瞩目，美国股票和ETF期权上线

主要洞察：

• 币安动态 带来了涵盖 1,000 多只美股和 ETF 的实物交割期权。
• 符合条件的非美国用户可以交易看涨期权和看跌期权，最大损失以权利金为限。
• Nest负责处理订单，而Alpaca则负责执行、结算和托管。

Recent updates from Binance are broadening the 交易所’s traditional market reach by offering physically settled options linked to over 1,000 selected US stocks and ETFs. These contracts are accessible to eligible individuals outside the United States. Customers have the ability to trade calls and puts, where exercised positions deliver the underlying shares instead of a cash payment.

This rollout brings equity options alongside Binance’s existing crypto offerings, bStocks, and equity-linked 永续 futures. It also expands upon access to more than 7,000 US stocks and ETFs. In contrast to 加密货币 ETF，这些新工具提供了与特定股票或基金相关的契约权益，在行权时可以兑现。

币安新闻：扩大美国股票期权交易权限

最新产品通过受阿布扎比全球市场监管的经纪商 Nest Trading Limited 运作。Nest 将客户订单路由至 Alpaca Securities 或 Alpaca Clearing，后者随后负责执行、清算和结算每一笔独立交易。Alpaca 还负责在行权后托管所得股份。

该框架使币安的用户界面与支持这些资产的受监管美国经纪基础设施保持隔离。美国用户无法访问这些期权。合规的零售客户必须完成入驻和合规验证流程。此外，币安计划提供符合其ADGM架构的教育材料和风险披露。

The initial phase accommodates limit orders and long-only positions. Buyers are able to acquire calls for upside potential or puts for downside defense. Their maximum potential loss is restricted to the premium paid. However, this threshold does not eliminate all risk, as options might expire with no value if the anticipated price movement fails to materialize.

在这一初始阶段，纯多头框架禁止参与者卖出无担保合约，从而确保买方的风险严格限制在所支付的权利金之内。

实物交割如何交付标的股票？

实物交割改变了到期结果。当看涨期权被行权时，相关股票将直接转入买方账户。行权看跌期权可能需要根据合约准则交付股票。这些资产将保留在Alpaca的托管网络中，而不会自动转换为现金。

所有权仅在行权请求完全完成后才会发生变更。用户可以在到期前最多30分钟提交这些请求，从而为客户提供在合约到期前采取行动的具体时间窗口。限价单还允许买方设定其最高入场价，不过实际执行很大程度上取决于市场流动性。

This setup differs from cash-settled derivatives, which disburse the contract value without moving securities. It also distinguishes these offerings from crypto ETFs, which bundle digital-asset exposure inside 交易所-traded funds. Instead, settlement focuses entirely on the listed ETF or stock named within each individual option.

币安新闻追踪TradFi交易量的迅猛增长

This development follows a surge in the platform’s traditional finance derivatives activity. TradFi 永续合约 量 reached approximately $433.4 billion in August, compared to $29.5 billion in January. Equity-linked perpetuals made up roughly 79% of August 量—amounting to $342.9 billion—versus just $410.9 million in January.

这次扩展为活跃用户提供了通往传统市场的又一途径，无需开设单独的交易账户。股票、期权和数字资产现在汇聚在统一的产品系列中。尽管如此，每种工具仍保留其独特的结算、托管和监管准则。

According to Binance Research, Binance attracted more than $15.7 billion in 交易所-reserves/" data-crg-term="746" title="The amount of an asset held in known exchange wallets.">交易所流入量 during August. The firm noted this accounted for over 75% of centralized exchange inflows. 比特币’s monthly rise also drew trading capital back following prior slowdowns in spot and 永续 market activity.

公告表明，随着平台规模的扩大，将陆续推出更多期权标的。Nest将继续传递订单，而Alpaca则负责监督执行、结算和托管。参与者将收到受监管框架所规定的必要合规文件和产品披露。