February Equity Index Product Review

Equity products performance

 

Product Code

Bloomberg Ticker

Feb ADV

YTD ADV*

Open Interest

Total

 

 

8,050,073

8,388,587

9,279,087

S&P 500

 

 

4,490,269

4,681,215

7,395,996

Futures

 

 

3,322,186

3,449,817

3,056,595

E-mini

ES

ESA Index

1,877,919

1,968,461

2,394,206

Micro E-mini

MES

HWA Index

1,394,575

1,429,581

172,381

BTIC

EST

STEA Index

39,573

40,972

-

BTIC+

ES1, ES2

ES1BTIC yyyymmdd Index

18

10

200

Dividend Future

SDA, SDI

ASDA, ISDA Index

5,105

4,439

210,640

Total Return Futures

TRI, CTR

SRTA, CTIA Index

2,701

3,915

268,126

TACO

ESQ

TQA Index

353

360

-

TACO+

EQ1

EQ1TACO yyyymmdd Index

 

-

-

E-mini ESG

ESG

SLBA Index

1,941

2,079

11,042

Options

 

 

1,168,083

1,231,397

4,339,401

E-mini

 

 

1,151,786

1,215,698

4,271,024

End-Of-Month

EW

SCA Index

135,061

145,032

460,035

Quarterlies

ES

ESA Index

177,009

160,990

2,004,322

Weekly (M, W, F)

EW1 - EW4

1EA-4EA Index

839,717

909,676

1,806,667

Micro E-mini

 

 

16,296

15,700

68,377

End-Of-Month

EX

HWOA Index

3,058

3,140

15,298

Quarterlies

MES

HWAA Index

10,281

10,028

19,149

Weekly

EX1-EX4

HXS1-HXS4 Index

2,957

2,532

33,930

NASDAQ

 

 

2,498,890

2,571,686

607,009

Futures

 

 

2,456,250

2,525,823

427,522

E-mini

NQ

NQA Index

729,327

772,631

253,633

Micro E-mini

MNQ

HWB Index

1,723,577

1,748,976

173,889

BTIC

NQT

QNTA Index

3,346

4,216

-

Options

 

 

42,640

45,863

179,487

E-mini

 

 

39,293

42,234

171,261

Micro E-mini

 

 

3346

3,629

8,226

End-Of-Month

MQE

HIWA Index

687

542

4,891

Quarterlies

MNQ

HWBA Index

2,157

2,523

2,354

Weekly

MQ1-MQ4

HWY1-HWY4 Index

503

565

981

DOW JONES

 

 

511,847

527,488

112,505

Futures

 

 

511,757

527,386

111,008

E-mini

YM

DMA Index

256,479

263,708

76,890

Micro E-mini

MYM

HWI Index

254,254

262,544

173,889

BTIC

YMT

YMTA Index

1,024

1,134

-

Options

 

 

90

101

1,497

E-mini

 

 

90

101

1,497

Russell 2000

 

 

431,228

486,824

612,507

Futures

 

 

422,629

477,543

557,754

E-mini

RTY

RTYA Index

235,602

264,233

520,780

Micro E-mini

M2K

HWR Index

182,971

208,898

36,974

BTIC

RLT

RLBA Index

4,056

4,411

-

Options

 

 

8,599

9,281

25,948

E-mini

 

 

8,599

9,281

25,948

S&P 400 - MIDCAP

 

 

14,568

16,939

48,782

Futures

 

 

14,568

16,939

48,782

E-mini

ME

FAA Index

14,568

16,939

48,782

INTERNATIONAL

 

 

52,030

51,112

64,109

Futures

 

 

52,030

51,112

64,109

Nikkei 225

ENY, N1, NK

YMEA, NXA, NHA Index

51,824

50,909

64,023

Ibovespa

IBV

IBAA Index

3

2

14

TOPIX

TPY

TPYA Index

203

200

72

SECTORS

 

 

10,885

12,758

228,243

Futures

 

 

10,885

12,758

228,243

Comm. Srvcs.

XAZ

XASA Index

114

120

1,806

Cons. Discr.

XAY

IXYA Index

357

530

5,762

Cons. Staples

XAP

IXRA Index

886

1,046

19,560

Energy

XAE

IXPA Index

2,159

2,067

38,374

Financial

XAF

IXAA Index

1,130

1,245

29,811

Health Care

XAV

IXCA Index

645

805

21,995

Industrial

XAI

IXIA Index

771

1,182

18,424

Materials

XAB

IXDA Index

894

838

13,081

Real Estate

XAR

XARA Index

188

323

8,059

Technology

XAK

IXTA Index

964

1,451

12,076

Utilities

XAU

IXSA Index

1,228

1,303

16,703

Dow Jones Real Estate

JR

DJEA Index

1,546

1,846

42,534

Nasdaq Biotech

BQ

DBA Index

3

1

58

FTSE

 

 

72

38

36

Futures

 

 

72

38

36

FTSE China 50

FT5

FCYA Index

72

38

36

Russell 1000

 

 

1,125

1,140

51,824

Futures

 

 

1,125

1,140

51,824

Russell 1000

RS1

RSYA Index

127

150

16,050

Russell 1000 Growth

RSG

RGYA Index

511

436

4,702

Russell 1000 Value

RSV

RVYA Index

487

554

31,072

Cryptocurrency

 

 

36,819

36,645

34,225

Futures

 

 

36,723

36,539

32,959

Bitcoin

BTC

BTCA Curncy

9,156

9,304

11,247

Micro Bitcoin

MBT

BMRA Curncy

21,848

21,367

17,700

Ether

ETH

DCRA Curncy

5,718

5,868

4,012

MicroEther

ETH

MERA Curncy

19,871

20,757

48,261

Options

 

 

97

106

1,266

Bitcoin

BTC

BTCA Curncy

97

106

1,266

Other US Indices

 

 

2,340

2,742

123,851

Futures

 

 

2,491

5,111

108,071

*Through February 28, 2022

ADV and open interest

  • Equity Index futures and options volume averaged 8.1 million contracts per day in February 2022 (+46% vs. Feb-21).
  • Equity Index open interest averaged 9.5 million contracts per day for the month of February 2022 (+20% vs. Feb-21).

Source: CME Group

Product highlights

Alternative investment:

Cryptocurrencies:

  • Bitcoin futures and options: Futures February ADV was 9.2K and open interest averaged 10.4K. LOIH averaged 83 YTD, indicating continued institutional interest. Over 59K Bitcoin options have traded since their launch in early 2020 for a notional value of nearly $7.4B. February average OI was 1.7K (+4% vs. Jan.-22), an average daily value of nearly $368M. 

Source: CME Group

  • Micro Bitcoin futures: On May 3, 2021, CME Group launched Micro Bitcoin futures; over 4.5M contracts have traded since launch. The futures are 1/10 of a bitcoin and settled to the CF Bitcoin Reference Rate. February ADV was 21.8K (+4% vs. Jan.-22) and OI averaged 15.4K.

    CME Group announced the introduction of options on Micro Bitcoin futures, available to trade starting March 28, pending regulatory review. Learn more here:

Source: CME Group

  • Ether Futures: CME Group launched Ether futures on February 8, 2021. The contract is cash-settled and based on the regulated CME CF Ether-Dollar Reference Rate. Over 1.1M CME Ether futures contracts have traded since launch (equivalent to 56.4M Ether). February ADV was 5.7K and open interest averaged 3.5K for the month.

Source: CME Group

  • Micro Ether Futures: Launched December 6, over 1M contracts have traded since launch. ADV in February was 19.9K and OI averaged 32.1K.  Sized at 1/10 of one ether, the contract provides an efficient, cost-effective way to manage exposure to one of the largest cryptocurrencies by market capitalization. Enjoy the same features of the larger Ether futures (ETH) at a fraction of the size, settled to the regulated CME CF Ether-Dollar Reference Rate.

    CME announced the introduction of options on Micro Ether futures, available to trade starting March 28, pending regulatory review.

    Learn more here:

Source: CME Group

Equity index:

  • Micro E-mini futures: Over 1.2B Micro E-mini Equity Index futures contracts have traded since launch. February ADV was 3.6M and included a record trading day on February 23, with 6,908,608 contracts traded. Learn more.

Source: CME Group

  • Micro E-mini options: CME Group launched Micro E-mini options on the S&P 500 and Nasdaq-100 indices on August 31, 2020. Micro E-mini Nasdaq-100 options continue to gain ground against their Micro E-mini S&P 500 options counterpart in terms of volume contribution. Since launch, a combined 3.8M contracts have traded. February ADV was another record 19.6K (+3% vs Jan.) with a record 39.4K contracts traded on February 11.

Source: CME Group

  • E-mini S&P 500 ESG futures: Environmental, Social, and Governance (ESG) is an investment theme that has continued to gain attention and implementation over the last several years, as the need for capitally efficient ESG solutions has grown. The S&P 500 ESG futures contracts allows market participants to gain price exposure to an index that closely tracks the performance of the S&P 500, while adhering to ESG principles. February ADV was 1.9K, with open interest averaging 11.2K.

Source: CME Group

  • E-mini S&P Europe 350 ESG futures: Launched May 24, 2021, E-mini S&P Europe 350 ESG futures are cash-settled to the S&P Europe 350 ESG index. The index is Pan-European, covering developed markets across over 15 different countries. The four largest individual country weights as of April 8, 2021, are UK 23.58%, France 18.08%, Switzerland 17,16%, and Germany 14.90%. The index is based on the robust ESG index methodology, same as the one applied to S&P 500 ESG index and is right-sized in terms of the number of constituents, which is approximately 230. Since launch, nearly 2.8K futures have traded.

    For more information, visit the following links:
  • Total Return futures: CME Group launched the S&P 500 Adjusted Interest Rate (AIR) Total Return futures in September 2020. February ADV was 2.7K and OI averaged a record 177K. February 23 reached a record OI of 185,586.

    Visit the following links for further detail:

Source: CME Group

  • Adjusted Interest Rate (AIR) Total Return futures expansion:

    • FTSE 100 Adjusted Interest Rate (AIR) Total Return futures: On June 7, 2021, CME Group launched AIR Total Return futures on the FTSE 100 Index. These futures offer total return exposure with an overnight floating rate built in, using SONIA as the financing reference rate. 

To learn more on FTSE 100 AIR futures, visit the following links:

Learn more about U.S. Index AIR Total Return futures:

  • Nasdaq-100 Volatility Index futures: On January 10, VOLQ futures underwent a multiplier change reduction from $1,000 to $100, allowing market participants to hedge risk and express a view around Nasdaq-100 at-the-money volatility with more precision. Since the change implementation, nearly 10.5K contracts have traded and open interest has averaged 45 contracts. Learn more here.

Source: CME Group

  • Nikkei futures: Nikkei 225 futures ADV reached 51.8K in February (+4% vs Jan.-22) and average OI was 67K for the month (+8% vs. Jan.-22). Nikkei 225 futures can be transacted through the MOS (Mutual Offset System); in 2021, approximately 75% of volume was traded outside of Tokyo cash hours, and more than 60% of ADV was traded before the U.S. market open (during non-U.S. hours).

Source: CME Group

  • Bloomberg Commodity Index: Effective in December, CME Group adjusted the contract specifications and fees for our Bloomberg Commodity Index futures. Fees were lowered, while the minimum price increment and daily settlement were changed to allow participants to access our markets more seamlessly. Learn more

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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Read More Reports

Review previous months' equity reports over the last year.

View Archived Reports

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Learn about the fundamentals of options on Micro Bitcoin and Micro Ether futures, launching March 28, pending regulatory review.

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