May Equity Index Products Review

Equity Products Performance

ADV and Open Interest Trends

  • Equity Index volume averaged 2.6 million contracts per day in May 2016, down 4% month-over-month
  • Equity Index open interest averaged 6.04 million contracts per day for the month in May 2016, and reached 9.1 million contracts at month-end – representing a 5.3% increase compared to month-end open interest for April 2016.

BTIC on Major Indices

  • BTIC links futures to the cash market close and has been a very positive addition thus far, illustrated by an impressive 470,000+ contracts traded ($43B notional) among 380 unique accounts since the November 2015 launch. 31 May was the second largest volume day with 17,886 BTIC trades ($1.78 billion notional value), including a record 5,924 BTIC on E-mini NASDAQ-100 trades that day. Liquidity continues to build on-screen as 60% of volume in 2016 has been transacted on Globex.
  • Here is a snapshot of the central limit order book on 31 May for BTIC on E-mini S&P 500:

Equity Options

  • S&P 500 Options: CME Group’s year-to-date S&P 500 options market share against CBOE remained at 29.8% through May compared to year-to-date share through April. E-mini S&P 500 Options ADV of 503,000 for May is +16% YoY; S&P 500 options ADV of 51,000 for May is +21% YoY.
  • E-mini NASDAQ-100 Options: The complex continues to flourish in 2016 as May ADV of 10,555 is +131% YoY. May ADV of 7,387 for Quarterlies is +120% YoY while ADV of 3,038 for Weeklies is +211% YoY.

International Products

  • Nikkei 225: Nikkei 225 futures grew 14% compared with May 2015, trading an average of 58,300 contracts per day).
  • Nifty 50: ADV of 401 for May, representing +131% since the August 2015 re-launch. YTD ADV through May was 389. 

Equity Index Products

Explore CME Group's suite of Equity Index products on U.S. and International Indices, Select Sectors, and Options on Futures.

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