CME Group Adjusted Interest Rate Total Return Futures Reach Record Open Interest, Volume

Rhea-AI Summary

CME Group: S&P 500 Adjusted Interest Rate (AIR) Total Return futures set a new open interest record of 414,000 contracts on November 15, surpassing the prior record of 408,000 contracts on November 14. Average daily volume for 2023 is up 54% year over year, with open interest representing over $100 billion in equivalent equity index notional value. Market participants are embracing these products as a listed alternative to OTC total return swaps as UMR impacts investors more broadly after Phase 6. AIR Total Return futures are available across major global indices.

Positive

• Record open interest and average daily volumes demonstrate market acceptance of AIR Total Return futures
• Increase in open interest by 49% year over year indicates growing interest in the product
• Availability across major global indices provides diversification and risk management options for investors

Negative

• None.

CHICAGO, Nov. 20, 2023 /PRNewswire/ -- CME Group, the world's leading derivatives marketplace, today announced that S&P 500 Adjusted Interest Rate (AIR) Total Return futures reached an open interest (OI) record of 414,000 contracts on November 15, surpassing the prior record of 408,000 contracts on November 14.

AIR Total Return futures average daily volume stands at 4,220 contracts for 2023, up a record 54% year over year. Additionally, open interest represents more than $100 billion in equivalent equity index notional value, an increase of 49% year over year.

 "As evidenced by our record open interest and average daily volumes, market participants are embracing these products as a listed alternative to OTC total return swaps as UMR impacts investors more broadly after Phase 6," said Paul Woolman, Global Head of Equity Products at CME Group. "We look forward to continuing to grow the volume and participation in these products to help clients meet their risk management needs."

AIR Total Return futures are available across a range of major global indices – S&P 500, Nasdaq-100, Russell 1000, Russell 2000, Dow Jones Industrial Average, and the FTSE 100.

For more information, visit www.cmegroup.com/airtrf

About CME Group

As the world's leading derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. The company offers futures and options on futures trading through the CME Globex platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform. In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing. 

CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and, E-mini are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc. NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. BrokerTec and EBS are trademarks of BrokerTec Europe LTD and EBS Group LTD, respectively.

The S&P 500 Index is a product of S&P Dow Jones Indices LLC ("S&P DJI"). "S&P®", "S&P 500®", "SPY®", "SPX®", US 500 and The 500 are trademarks of Standard & Poor's Financial Services LLC; Dow Jones®, DJIA® and Dow Jones Industrial Average are service and/or trademarks of Dow Jones Trademark Holdings LLC. These trademarks have been licensed for use by Chicago Mercantile Exchange Inc. Futures contracts based on the S&P 500 Index are not sponsored, endorsed, marketed, or promoted by S&P DJI, and S&P DJI makes no representation regarding the advisability of investing in such products. All other trademarks are the property of their respective owners.

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SOURCE CME Group

FAQ

What is the open interest record for S&P 500 AIR Total Return futures?

The open interest record for S&P 500 AIR Total Return futures reached 414,000 contracts on November 15, surpassing the prior record of 408,000 contracts on November 14.

How much has the average daily volume for AIR Total Return futures increased in 2023?

The average daily volume for AIR Total Return futures in 2023 is up 54% year over year.

Which global indices are AIR Total Return futures available across?

AIR Total Return futures are available across a range of major global indices, including S&P 500, Nasdaq-100, Russell 1000, Russell 2000, Dow Jones Industrial Average, and the FTSE 100.