Treasury OI hits 36M contracts
Open interest (OI) in Treasury futures has crossed the 36 million mark for the first time, up over one million contracts since the previous high in November, as traders used the contracts to manage risks and positions in the Treasury roll period.
A number of records were set across the curve, including:
- 2-Yr futures and options OI (5.8M contracts)
- 5-Yr futures OI (8M contracts)
- 10-Yr futures and options OI (11.7M contracts)
- 30-Yr futures and options OI (3.4M contracts)
- Large open interest holders (LOIH) count of 2,120 as of February 6
Additionally, the broader rates world saw average daily volume (ADV) of over 21 million contracts in February, also a record and up over one million contracts when compared to last February.
Check-in to a bigger (Credit) suite on March 30
As Credit futures continue to grow with new participants every week, the suite is expanding with four new products:
- USD Emerging Market Sovereign Credit (DLB)
- 1-5 Year Maturity IG Credit (IQS)
- 5-10 Year Maturity IG Credit (IQY)
- 10+ Year Maturity IG Credit (IQL)
USD EM Sovereign Credit futures will allow traders to manage exposure to USD-denominated EM Sovereign Credit, while the new IG Credit futures will allow traders to more precisely manage their exposure to the IG credit curve, with short, intermediate and long-maturity contracts.
Big month for Weeklies
daily open interest (ADOI) for our Weekly Treasury options, which offer expirations each day of the trading week. Key highlights include:
- ADV up 14% YoY to just under 800K
- ADOI is up 33% YoY
- ADOI exceeded 1.1M contracts in our Friday suite for the first time
Discover more on this precise way to manage risk, any day of the week.
More in Interest Rates
$10B+ saved per day. Are you in?
With Portfolio Margining savings soaring to record levels, your firm may have questions on how you can take advantage of these capital efficiencies across swaps and futures.
Our onboarding guide highlights key questions with regards to this program’s workflows, product eligibility, CORE margin simulations and more.
Swapping in a new record for Eris SOFR in February
The Eris SOFR Swap ecosystem continues to deepen in February with the following highlights:
- Eris/Treasury Swap Spreads: adding 25K in OI
- Key tenors for Eris SOFR: OI growth of over 30% YTD
- A new monthly ADOI record for the suite
With the launch of Bloomberg Eris SOFR Swap Futures Tracker Indices, the word continues to spread on these innovative contracts that offer a transparent way to trade swaps in a listed format.
Fed Letter day for cross-margining
The latest in the Chicago Fed Letter series takes a deep dive into the coming Treasury clearing mandate, including how cross-margining could play a crucial role.
Discover more on their perspective and see how we are aiming to provide efficient solutions with our CME Securities Clearing program.
Data as of March 1, 2026, unless otherwise specified.
View an archive of the Rates Recap online at cmegroup.com/ratesrecap.
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