ICE Launches MSCI® MarketAxess Tradable Corporate Bond Index Futures to Help Investors Hedge Corporate Bond Exposure
Intercontinental Exchange (ICE) has launched MSCI® MarketAxess Tradable Corporate Bond Index futures, expanding its suite of financial products. The new futures contracts are based on newly created corporate bond indices by MSCI and MarketAxess, offering four variants across USD and EUR markets in both Investment Grade and High Yield categories.
These indices utilize MarketAxess' Relative Liquidity Scores to identify liquid fixed income securities from MSCI's broader Corporate Bond Indices. The launch aims to provide institutional investors with better tools for managing corporate bond portfolios and integrating hedging strategies. ICE currently dominates global MSCI futures trading, accounting for over 70% of volume in equity markets. In 2024, ICE's MSCI complex has averaged daily volumes of 190,000 contracts, representing approximately $13.6 billion in notional value.
Intercontinental Exchange (ICE) ha lanciato i futuri MSCI® MarketAxess Tradable Corporate Bond Index, ampliando la sua gamma di prodotti finanziari. I nuovi contratti futures si basano su indici obbligazionari aziendali recentemente creati da MSCI e MarketAxess, offrendo quattro varianti nei mercati USD ed EUR, sia nella categoria Investment Grade che in quella High Yield.
Questi indici utilizzano i punteggi di liquidità relativa di MarketAxess per identificare i titoli a reddito fisso liquidi dagli indici obbligazionari aziendali più ampi di MSCI. Il lancio mira a fornire agli investitori istituzionali migliori strumenti per gestire i portafogli obbligazionari aziendali e integrare strategie di copertura. ICE attualmente domina il trading globale dei futures MSCI, rappresentando oltre il 70% del volume nei mercati azionari. Nel 2024, il complesso MSCI di ICE ha registrato volumi giornalieri medi di 190.000 contratti, corrispondenti a circa 13,6 miliardi di dollari in valore nozionale.
Intercontinental Exchange (ICE) ha lanzado futuros del MSCI® MarketAxess Tradable Corporate Bond Index, ampliando su gama de productos financieros. Los nuevos contratos de futuros se basan en índices de bonos corporativos recién creados por MSCI y MarketAxess, ofreciendo cuatro variantes en los mercados USD y EUR, tanto en la categoría de Investment Grade como en la de High Yield.
Estos índices utilizan las Puntuaciones de Liquidez Relativa de MarketAxess para identificar valores de renta fija líquidos de los índices más amplios de bonos corporativos de MSCI. El lanzamiento tiene como objetivo proporcionar a los inversores institucionales mejores herramientas para gestionar carteras de bonos corporativos e integrar estrategias de cobertura. ICE actualmente domina el comercio global de futuros MSCI, representando más del 70% del volumen en los mercados de acciones. En 2024, el complejo MSCI de ICE ha promediado volúmenes diarios de 190,000 contratos, lo que representa aproximadamente 13.6 mil millones de dólares en valor nocional.
인터컨티넨탈 익스체인지(ICE)는 MSCI® MarketAxess 거래 가능한 기업채권 지수 선물 계약을 출시하여 금융 상품군을 확장했습니다. 신규 선물 계약은 MSCI와 MarketAxess가 새로 생성한 기업채권 지수를 기반으로 하며, USD 및 EUR 시장의 투자 등급 및 고수익 카테고리에서 네 가지 변형을 제공합니다.
이들 지수는 MarketAxess의 상대 유동성 점수를 활용하여 MSCI의 보다 넓은 기업채권 지수에서 유동성이 있는 고정 수익 증권을 식별합니다. 이번 출시는 기관 투자자에게 기업채권 포트폴리오 관리 및 헤지 전략 통합을 위한 더 나은 도구를 제공하는 것을 목표로 하고 있습니다. 현재 ICE는 MSCI 선물 거래에서 70% 이상의 시장 점유율을 차지하고 있습니다. 2024년 ICE의 MSCI 복합체는 하루 평균 190,000 계약의 거래량을 기록하여 약 136억 달러에 달하는 명목 가치를 나타냅니다.
Intercontinental Exchange (ICE) a lancé des contrats à terme MSCI® MarketAxess Tradable Corporate Bond Index, élargissant ainsi sa gamme de produits financiers. Les nouveaux contrats à terme sont basés sur des indices obligataires d'entreprise récemment créés par MSCI et MarketAxess, offrant quatre variantes sur les marchés USD et EUR dans les catégories Investment Grade et High Yield.
Ces indices utilisent les scores de liquidité relative de MarketAxess pour identifier les titres à revenu fixe liquides issus des indices obligataires d'entreprise plus larges de MSCI. Le lancement vise à fournir aux investisseurs institutionnels de meilleurs outils pour gérer les portefeuilles obligataires d'entreprise et intégrer des stratégies de couverture. Actuellement, ICE domine le commerce mondial des contrats à terme MSCI, représentant plus de 70 % du volume sur les marchés boursiers. En 2024, le complexe MSCI d'ICE a enregistré des volumes moyens quotidiens de 190 000 contrats, représentant environ 13,6 milliards de dollars en valeur notionnelle.
Intercontinental Exchange (ICE) hat die MSCI® MarketAxess handelbare Unternehmensanleiheindex-Futures eingeführt und erweitert damit sein Angebot an Finanzprodukten. Die neuen Futures basieren auf neu geschaffenen Unternehmensanleiheindizes von MSCI und MarketAxess und bieten vier Varianten in den USD- und EUR-Märkten sowohl für Investment Grade als auch für High Yield-Kategorien an.
Diese Indizes nutzen die Relative Liquiditätsbewertungen von MarketAxess, um flüssige festverzinsliche Wertpapiere aus den umfassenderen Unternehmensanleiheindizes von MSCI zu identifizieren. Mit der Markteinführung soll institutionellen Investoren ein besseres Werkzeug zur Verwaltung von Unternehmensanleiheportfolios und zur Integration von Hedge-Strategien zur Verfügung gestellt werden. ICE dominiert derzeit den globalen Handel mit MSCI-Futures und macht über 70% des Volumens auf den Aktienmärkten aus. Im Jahr 2024 hat das MSCI-Komplex von ICE durchschnittlich tägliche Handelsvolumina von 190.000 Kontrakten erzielt, was etwa 13,6 Milliarden Dollar an nominalem Wert entspricht.
- Launch of new corporate bond futures products expands ICE's market offering
- Strong market position with 70% of global MSCI futures trading volume
- High trading activity with 190,000 average daily contracts in 2024
- $13.6 billion daily notional value in MSCI complex trading
- None.
Insights
The launch of MSCI® MarketAxess Tradable Corporate Bond Index futures represents a significant innovation in credit market derivatives. These futures contracts address a important gap in the market by providing institutional investors with efficient tools to hedge corporate bond exposure. The timing is particularly strategic given the high client adoption rates of credit futures.
The new suite includes four distinct contracts covering both Investment Grade and High Yield bonds in USD and EUR denominations. The incorporation of MarketAxess' Relative Liquidity Scores in the index methodology is particularly valuable, as it ensures the underlying instruments maintain sufficient trading volume for effective price discovery and hedging capabilities. With ICE's existing MSCI futures seeing an average daily volume of
This product launch strengthens ICE's competitive position in the derivatives market, where it already dominates with
The futures contracts will be based on MSCI and MarketAxess’ newly created corporate bond indices. These tradable indices aim to provide a benchmark for the performance of the corporate bond market, incorporating sector and credit allocation to ensure low tracking error to the MSCI parent indices and reliable replication of the credit market.
“The introduction of ICE MSCI MarketAxess Corporate Bond futures are a welcome addition to the existing suite of credit futures,” said Antony Harden, Executive Director, Goldman Sachs. “Timing couldn’t be better as client adoption hits an all-time high as credit futures find their way into investors toolkits.”
ICE’s four futures contracts offer a way for institutional investors to integrate corporate bond hedges into their investment process and are based on the following indices: MSCI MarketAxess USD IG Tradable Corporate Bond Index, MSCI MarketAxess USD HY Tradable Corporate Bond Index, MSCI MarketAxess EUR IG Tradable Corporate Bond Index and MSCI MarketAxess EUR HY Tradable Corporate Bond Index.
The MSCI MarketAxess Tradable Corporate bond indices methodology uses MarketAxess’ Relative Liquidity Scores to identify and measure the performance of a selection of liquid fixed income securities from MSCI’s broader Corporate Bond Indices.
“ICE’s markets account for over
"We are excited to be working with ICE and MarketAxess to provide investors with innovative tools designed to manage credit exposures more efficiently,” said George Harrington, Managing Director, MSCI. “By leveraging MSCI's index methodologies, MarketAxess' unique liquidity metrics and ICE's leading trading platform, clients can efficiently trade and achieve enhanced liquidity.”
“Credit futures are an important tool for a healthy market and our institutional clients—one that will generate more liquidity in the cash markets,” said Kat Sweeney, Global Head of Data and ETF Solutions at MarketAxess. “We are proud to have introduced these tradable indices with MSCI and are equally excited to be expanding on our data and trading relationship with ICE with the launch of these futures.”
ICE’s MSCI MarketAxess Tradable Corporate Bond Index Futures will join ICE’s existing suite of liquid futures based on MSCI ACWI, MSCI EAFE, MSCI Emerging Markets, MSCI ESG and MSCI Climate indices, providing participants around the world with a set of tools to manage equity risk. So far in 2024, the average daily volume for ICE’s MSCI complex is over 190,000 contracts, equal to an estimated
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks that connect people to opportunity. We provide financial technology and data services across major asset classes helping our customers access mission-critical workflow tools that increase transparency and efficiency. ICE’s futures, equity, and options exchanges – including the New York Stock Exchange – and clearing houses help people invest, raise capital and manage risk. We offer some of the world’s largest markets to trade and clear energy and environmental products. Our fixed income, data services and execution capabilities provide information, analytics and platforms that help our customers streamline processes and capitalize on opportunities. At ICE Mortgage Technology , we are transforming
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Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 – Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2023, as filed with the SEC on February 8, 2024.
Category: EXCHANGES
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Source: Intercontinental Exchange
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Source: Intercontinental Exchange
FAQ
What are the four new MSCI MarketAxess Corporate Bond Index futures launched by ICE?
What is the current trading volume for ICE's MSCI futures complex in 2024?
How much of global MSCI futures trading does ICE control?
How do the new MSCI MarketAxess Tradable Corporate Bond indices select their components?
