S&P 500 Dividend Index Futures

Harness the Potential of the Dividend Market

With quarterly and annual contracts, S&P 500 Dividend Index futures provide you with efficient tools to hedge or express a view on the U.S. dividend market, regardless of the price movement of the S&P 500 index.

S&P 500 Dividend Index Futures Term Structure

Key Benefits

  • Efficiency to hedge or express views on U.S. stock dividends
  • Flexibility of quarterly or annual index contracts
  • Around the clock access
  • Opportunity to create total return strategies
  • Security of central clearing to mitigate counterparty risk
  • Eligible for block trades to allow larger transactions to be privately negotiated

Getting Started

The S&P 500 Quarterly Dividend Index futures contract (SDI) is $1,000 times the S&P 500 Dividend Points Index with the nearest five months in the March Quarterly Cycle (Mar, Jun, Sep, Dec) available for trading. The S&P 500 Dividend Points Index (SPXDIV) tracks the accumulation of dividends on a quarterly basis and resets to zero at the end of each period. The observation period is the prior contract expiration date plus one trading day through the contract’s expiration. For example, dividend exposure for the June 2016 quarterly contract would run from the day after March 2016 expiration through June 2016 expiration. 

The S&P 500 Dividend Points Index (Annual) futures contract (SDA) is $250 times the S&P 500 Annual Dividend Points Index with the nearest six Decembers available for trading. The S&P 500 Dividend Points Index (Annual) (SPXDIVAN) tracks the accumulation of dividends on an annual basis and resets to zero after the expiration of the leading December contract. The observation period is the prior December contract expiration date plus one trading day, through the contract’s December expiration date.

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