One reasonable response to the rising-tide-raises-all-ships issue is to index options.

FORBES: How To Salvage Stock Options

An index in the back of each issue listed stores where the products could be purchased.

FORBES: Shopping via TV

The Toronto Exchange in Canada was the first to issue an ETF-type product known as Toronto Index Participation Units (TIP 35) in March 1990.

FORBES: ETFs Turn 20-Years Old in the U.S.