April Equity Index Product Review

Equity products performance

 

Product Code

Bloomberg Ticker

Apr ADV

YTD ADV*

Open Interest

Total

 

 

6,598,412

7,595,118

9,337,373

S&P 500

 

 

3,827,642

4,327,579

7,526,626

Futures

 

 

2,797,570

3,208,897

2,932,786

E-mini

ES

ESA Index

1,579,622

1,838,077

2,237,868

Micro E-mini

MES

HWA Index

1,178,301

1,320,590

161,214

BTIC

EST

STEA Index

34,470

39,544

-

BTIC+

ES1, ES2

ES1BTIC yyyymmdd Index

80

29

250

Dividend Future

SDA, SDI

ASDA, ISDA Index

2,974

4,552

225,806

Total Return Futures

TRI, CTR

SRTA, CTIA Index

1,398

4,076

294,078

TACO

ESQ

TQA Index

309

254

-

TACO+

EQ1

EQ1TACO yyyymmdd Index

 

-

-

E-mini ESG

ESG

SLBA Index

416

1,775

13,570

Options

 

 

1,030,072

1,118,683

4,593,840

E-mini

 

 

1,021,772

1,106,214

4,549,429

End-Of-Month

EW

SCA Index

161,522

137,745

402,092

Quarterlies

ES

ESA Index

104,711

159,135

1,599,807

Weekly (M, W, F)

EW1 - EW4

1EA-4EA Index

755,539

809,334

2,515,575

Micro E-mini

 

 

8,300

12,468

44,411

End-Of-Month

EX

HWOA Index

2,368

2,680

6,336

Quarterlies

MES

HWAA Index

4,827

7,491

15,953

Weekly

EX1-EX4

HXS1-HXS4 Index

1,105

2,297

22,122

NASDAQ

 

 

2,012,036

2,290,580

565,803

Futures

 

 

1,962,020

2,245,917

332,363

E-mini

NQ

NQA Index

639,926

707,884

231,796

Micro E-mini

MNQ

HWB Index

1,317,797

1,533,968

100,567

BTIC

NQT

QNTA Index

4,297

4,065

-

Options

 

 

50,016

44,663

233,440

E-mini

 

 

47,289

41,558

227,597

Micro E-mini

 

 

2727

3,104

5,843

End-Of-Month

MQE

HIWA Index

264

499

2,374

Quarterlies

MNQ

HWBA Index

1,651

2,018

2,783

Weekly

MQ1-MQ4

HWY1-HWY4 Index

812

587

686

DOW JONES

 

 

345,679

443,869

100,317

Futures

 

 

345,575

443,750

98,803

E-mini

YM

DMA Index

184,631

226,677

81,549

Micro E-mini

MYM

HWI Index

160,231

216,125

100,567

BTIC

YMT

YMTA Index

712

949

-

Options

 

 

104

118

1,514

E-mini

 

 

104

118

1,514

Russell 2000

 

 

323,213

420,256

596,181

Futures

 

 

315,994

412,251

542,490

E-mini

RTY

RTYA Index

204,063

247,886

515,257

Micro E-mini

M2K

HWR Index

107,163

159,798

27,233

BTIC

RLT

RLBA Index

4,768

4,566

-

Options

 

 

7,219

8,006

25,948

E-mini

 

 

7,219

8,006

25,948

S&P 400 - MIDCAP

 

 

13,884

17,344

53,345

Futures

 

 

13,884

17,344

53,345

E-mini

ME

FAA Index

13,884

17,344

53,345

INTERNATIONAL

 

 

35,071

39,636

51,514

Futures

 

 

35,071

39,636

51,514

Nikkei 225

ENY, N1, NK

YMEA, NXA, NHA Index

34,926

39,483

51,307

Ibovespa

IBV

IBAA Index

8

2

26

TOPIX

TPY

TPYA Index

138

151

181

SECTORS

 

 

9,926

14,857

214,578

Futures

 

 

9,926

14,857

214,578

Comm. Srvcs.

XAZ

XASA Index

145

141

2,012

Cons. Discr.

XAY

IXYA Index

311

518

5,262

Cons. Staples

XAP

IXRA Index

1,063

988

18,497

Energy

XAE

IXPA Index

1,383

2,835

40,930

Financial

XAF

IXAA Index

969

1,786

26,970

Health Care

XAV

IXCA Index

874

1,084

20,660

Industrial

XAI

IXIA Index

709

1,148

17,833

Materials

XAB

IXDA Index

404

700

6,630

Real Estate

XAR

XARA Index

84

374

7,147

Technology

XAK

IXTA Index

574

1,171

10,963

Utilities

XAU

IXSA Index

1,121

1,487

18,313

Dow Jones Real Estate

JR

DJEA Index

2,282

2,624

39,314

Nasdaq Biotech

BQ

DBA Index

8

1

47

FTSE

 

 

114

69

411

Futures

 

 

114

69

411

FTSE China 50

FT5

FCYA Index

114

69

411

Russell 1000

 

 

1,543

1,905

46,570

Futures

 

 

1,543

1,905

46,570

Russell 1000

RS1

RSYA Index

888

417

13,134

Russell 1000 Growth

RSG

RGYA Index

167

440

4,975

Russell 1000 Value

RSV

RVYA Index

489

1,048

28,461

Cryptocurrency

 

 

27,981

33,910

65,113

Futures

 

 

26,852

32,091

34,015

Bitcoin

BTC

BTCA Curncy

7,589

8,509

10,119

Micro Bitcoin

MBT

BMRA Curncy

15,084

18,650

20,299

Ether

ETH

DCRA Curncy

4,178

4,932

3,597

MicroEther

ETH

MERA Curncy

19,653

19,218

67,226

Options

 

 

1,130

1,819

31,098

Bitcoin

BTC

BTCA Curncy

73

95

2,224

Other U.S. Indices

 

 

1,323

5,112

116,915

Futures

 

 

2,491

5,111

108,071

*Through April 30, 2022

ADV and open interest

  • Equity Index futures and options volume averaged 6.6 million contracts per day in April 2022 (+42% vs. Apr-21)
  • Equity Index open interest averaged 8.9 million contracts per day for the month of April 2022 (+19% vs. Apr-21)

Source: CME Group

Product highlights

Alternative investments/Cryptocurrencies

Source: CME Group

Bitcoin futures and options: Futures April ADV was 7.7K and open interest averaged 11K. LOIH averaged 81 YTD indicating continued institutional interest. Over 62.8K Bitcoin options have traded since their launch in early 2020 for a notional value of nearly $8.1B. April average OI was 1.6K, an average daily value of nearly $332M.

Micro Bitcoin futures: Launched May-21, Micro Bitcoin futures have traded over 5.2M contracts in their first year. The futures are 1/10 of a Bitcoin and settled to the CF Bitcoin Reference Rate. April ADV was 15.1K and OI averaged 19.2K (+2% vs. Mar-22).

Micro Bitcoin & Micro Ether options: CME Group introduced options on Micro Bitcion futures and options on Micro Ether futures starting March 28. The new options are right-sized at 1/10 of their respective tokens. Over 41.4K contracts traded in the first month across the various expiries with trades submitted from EMEA, APAC, and North America.

Learn more here:

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 1.3M CME Ether futures contracts have traded since launch (equivalent to 64.8M Ether). April ADV was 4.2K (+4% vs. Mar-22) and open interest averaged 3.4K (+4% vs. Mar-22).

Micro Ether Futures: Launched December-21, nearly 1.8M contracts have traded since launch. ADV in April was 19.7K (+21% vs. Mar-22) and OI averaged 37.7K (+47% vs. Mar-22).  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.

Equity Index:

Micro E-mini futures: Over 1.3B Micro E-mini Equity Index futures contracts have traded since launch. April ADV was 2.8M across the four indices. Micro E-mini Nasdaq-100 futures has maintained its leading share of ADV at 1.3M in April, followed by Micro E-mini S&P 500 futures at 1.2M.

Source: CME Group

For more information on the Micro E-mini futures, please visit our website here.

Micro E-mini options: CME Group launched Micro E-mini options on the S&P 500 and Nasdaq-100 indices in August 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 4.1M contracts have traded, with an April ADV of 11.1K.

Source: CME Group

For more information on Micro E-mini options, please visit the following:

E-mini S&P 500 Tuesday & Thursday options: CME Group launched E-mini S&P 500 Tuesday and Thursday options April 25th. Day 1 Tuesday and Thursday E-mini S&P 500 options surpassed 82K contracts with open interest exceeding 79K, making this the most successful options launch in CME Group's history. The new options offer more opportunities to manage short-term equity exposure with more choices to trade throughout the week. The contracts complement the existing suite of Quarterly, End-of-Month, and Monday, Wednesday, and Friday Weekly options. These options settle into liquidity E-mini S&P 500 futures, which have averaged 1.9M contracts daily. Learn more here.

S&P 500 Dividend futures: Equity Index Dividend futures provide an efficient tool to hedge or express a view on the U.S. dividend market, regardless of the price movement of the benchmark indices. Quarterly and annual contracts are available on the S&P 500 Index. April ADV was 3K and open interest averaged 210K (+4% vs. Mar-22). Annual contracts are available on the Nasdaq-100 and Russell 2000 Indices as of April 11.

Nasdaq-100 and Russell 2000 Dividend futures:

Source: CME Group

E-mini S&P 500 ESG futures: The Environmental, Social, and Governance (ESG) investment theme continues to gain attention and implementation 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. CME Group E-mini S&P 500 ESG futures continue to experience significant growth, with April open interest averaging 13.5K (+4% vs. Mar-22).

Source: CME Group

E-mini S&P Europe 350 ESG futures: Launched May 2021, the new 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 number of constituents at around 230. Since launch, nearly 3.1K futures have traded.

Please visit the following for further detail:

Total Return futures: CME launched the S&P 500 Adjusted Interest Rate (AIR) Total Return futures in September 2020. April OI averaged a record 209K (+9% vs. Mar-22). April 28 reached a record OI of 212,264.

Please visit the following 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 CME Group launched AIR Total Return futures on the FTSE 100 Index. The new futures will give total return exposure with an overnight floating rate built in using SONIA as the financing reference rate.

    To learn more, please visit the following:
  • Nasdaq-100, Russell 1000, Russell 2000, and DJIA AIR Total Return futures: Launched July 26, 2021, now access U.S. Indices total return equity index exposure with an enhanced floating rate.

    Learn more here:

Nasdaq-100 Volatility Index futures: On January 10, the VOLQ futures multiplier was reduced 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 multiplier change was implemented, nearly 14.5K contracts have traded. Learn more here.

Source: CME Group

Nikkei futures: Nikkei 225 futures ADV reached 35K in April and average OI was 50K for the month. Nikkei 225 futures can be transacted through the MOS (Mutual Offset System); in 2021, about 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-US 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. For more info, visit our website here.

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