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Understanding the Adjusted Interest Rate (AIR) Total Return futures contract

Course Overview

Adjusted Interest Rate (AIR) Total Return futures on the S&P 500 Index are designed to provide total return exposure with an overnight floating rate built in. The enhanced contract design provides similar economics to an equity index total return swap with the margin efficiency of listed futures.  Learn more about the futures contract, nuances of the contract, along with a trade example to better understand.