CHICAGO, Dec. 30, 2020 /PRNewswire/ -- Cboe Global
Markets, Inc. (Cboe: CBOE), a market operator and global trading
solutions provider, today announced that trading in Cboe® iBoxx®
iShares® $ High Yield Corporate Bond Index (Ticker: IBHY) futures
set a new daily volume record on Monday,
December 28, with a reported 4,451 contracts traded,
representing more than $648 million
in notional value. This new record surpasses the previous high of
3,891 contracts traded on October 28,
2020.
In addition, Cboe® iBoxx® iShares® $ Investment Grade Corporate
Bond Index (Ticker: IBIG) futures reached their second highest
daily volume of all-time on Monday, December
28 with a reported 610 contracts traded, representing more
than $92 million in notional value.
Both IBHY and IBIG futures are traded on Cboe Futures Exchange, LLC
(CFE).
Designed to leverage the deep and liquid iShares® ETF ecosystem,
IBHY and IBIG futures are based on indices designed to measure the
performance of U.S. dollar-denominated high yield and investment
grade corporate debt, and offer broad coverage for the liquid U.S.
high yield and investment grade corporate bond universes.
Michael Mollet, Vice President,
Head of Futures, said: "Since April of this year, we've seen steady
growth in volume of both IBHY and IBIG futures as investors look to
tailor their exposure to the nearly $9
trillion U.S. corporate bond market. We believe an
exchange-traded, centrally cleared instrument brings tremendous
utility to the space by providing market participants a
transparent, standardized tool to help with efficient credit risk
mitigation or to implement fixed income trading strategies."
Cboe's corporate bond index futures began trading in fall 2018.
IBHY futures are cash-settled futures on IHS
Markit's iBoxx® iShares® $ High Yield Corporate Bond Index
(IBXXIBHY Index) and IBIG futures
are cash-settled futures on IHS Markit's iBoxx®
iShares® $ Investment Grade Corporate Bond Index (IBXXIBIG
Index).
For additional information on CFE's IBHY and IBIG futures,
including contract specifications, product fact sheets and daily
market statistics, visit: www.cboe.com/iboxx.
About Cboe Global Markets, Inc.
Cboe Global Markets (Cboe: CBOE) provides cutting-edge trading
and investment solutions to market participants around the world.
The company is committed to defining markets through product
innovation, leading edge technology and seamless trading
solutions.
The company offers trading across a diverse range of products in
multiple asset classes and geographies, including options, futures,
U.S., Canadian and European equities, exchange-traded products
(ETPs), global foreign exchange (FX) and volatility products based
on the Cboe Volatility Index (VIX Index), recognized as the world's
premier gauge of U.S. equity market volatility.
Cboe's subsidiaries include the largest options exchange and the
third largest stock exchange operator in the U.S. In addition, the
company operates one of the largest stock exchanges by value traded
in Europe, and owns EuroCCP, a
leading pan-European equities clearing house. Cboe also is a
leading market globally for ETP listings and
trading.
The company is headquartered in Chicago with a network of domestic and global
offices across the Americas, Europe and Asia, including main hubs in New York, London, Kansas
City and Amsterdam. For
more information, visit www.cboe.com.
Media
Contacts
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Analyst
Contact
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Angela
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Tim
Cave
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Debbie
Koopman
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+1-646-856-8734
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+44 (0)
7593-506-719
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+1-312-786-7136
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atu@cboe.com
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tcave@cboe.com
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dkoopman@cboe.com
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Cboe®, Cboe Global Markets®, Cboe Volatility Index®, CFE®,
and VIX® are registered trademarks and Cboe Futures
ExchangeSM is a service mark of Cboe Exchange, Inc. All
other trademarks and service marks are the property of their
respective owners.
Futures trading is not suitable for all investors and
involves the risk of loss. That risk of loss can be substantial and
can exceed the amount of money deposited for a futures position.
You should, therefore, carefully consider whether futures trading
is suitable for you in light of your circumstances and financial
resources. You should put at risk only funds that you can afford to
lose without affecting your lifestyle. For additional information
regarding futures trading risks, see the Risk Disclosure
Statement set forth in Appendix A to CFTC Regulation
1.55(c) and the Risk Disclosure Statement for Security
Futures Contracts.
The iBoxx® iShares® $ High Yield Corporate Bond Index and the
iBoxx® iShares® $ Investment Grade Corporate Bond Index (the
"Indexes") referenced herein are the property of Markit Indices
Limited ("Index Sponsor") and have been licensed for use in
connection with Cboe® iBoxx® iShares® $ High Yield Corporate Bond
Index Futures and Cboe® iBoxx® iShares® $ Investment Grade
Corporate Bond Index Futures. Each party to a Cboe® iBoxx® iShares®
$ High Yield Corporate Bond Index Futures or Cboe® iBoxx® iShares®
$ Investment Grade Corporate Bond Index Futures transaction
acknowledges and agrees that the transaction is not sponsored,
endorsed or promoted by the Index Sponsor. The Index Sponsor makes
no representation whatsoever, whether express or implied, and
hereby expressly disclaims all warranties (including, without
limitation, those of merchantability or fitness for a particular
purpose or use), with respect to the Indexes or any data included
therein or relating thereto, and in particular disclaims any
warranty either as to the quality, accuracy and/or completeness of
the Indexes or any data included therein, the results obtained from
the use of the Indexes and/or the composition of the Indexes at any
particular time on any particular date or otherwise and/or the
creditworthiness of any entity, or the likelihood of the occurrence
of a credit event or similar event (however defined) with respect
to an obligation, in the Indexes at any particular time on any
particular date or otherwise. The Index Sponsor shall not be liable
(whether in negligence or otherwise) to the parties or any other
person for any error in the Indexes, and the Index Sponsor is under
no obligation to advise the parties or any person of any error
therein.
The Index Sponsor makes no representation whatsoever, whether
express or implied, as to the advisability of purchasing or selling
Cboe® iBoxx® iShares® $ High Yield Corporate Bond Index Futures and
Cboe® iBoxx® iShares® $ Investment Grade Corporate Bond Index
Futures, the ability of the Indexes to track relevant markets'
performances, or otherwise relating to the Indexes or any
transaction or product with respect thereto, or of assuming any
risks in connection therewith. The Index Sponsor has no obligation
to take the needs of any party into consideration in determining,
composing or calculating the Indexes. No party purchasing or
selling Cboe® iBoxx® iShares® $ High Yield Corporate Bond Index
Futures or Cboe® iBoxx® iShares® $ Investment Grade Corporate Bond
Index Futures, nor the Index Sponsor, shall have any liability to
any party for any act or failure to act by the Index Sponsor in
connection with the determination, adjustment, calculation or
maintenance of the Indexes. iBoxx® is a service mark of IHS Markit
Limited.
The iBoxx® iShares® $ High Yield Corporate Bond Index and the
iBoxx® iShares® $ Investment Grade Corporate Bond Index (the
"Indexes") and futures contracts on the Indexes ("Contracts") are
not sponsored by, or sold by BlackRock, Inc. or any of its
affiliates (collectively, " BlackRock"). BlackRock makes no
representation or warranty, express or implied to any person
regarding the advisability of investing in securities, generally,
or in the Contracts in particular. Nor does BlackRock make any
representation or warranty as to the ability of the Index to track
the performance of the fixed income securities market, generally,
or the performance of HYG, LQD or any subset of fixed income
securities.
BlackRock has not calculated, composed or determined the
constituents or weightings of the fixed income securities that
comprise the Indexes ("Underlying Data"). BlackRock is not
responsible for and has not participated in the determination of
the prices and amounts of the Contracts, or the timing of the
issuance or sale of such Contracts or in the determination or
calculation of the equation by which the Contracts are to be
converted into cash (if applicable). BlackRock has no obligation or
liability in connection with the administration or trading of the
Contracts. BlackRock does not guarantee the accuracy or the
completeness of the Underlying Data and any data included therein
and BlackRock shall have no liability for any errors, omissions or
interruptions related thereto.
BlackRock makes no warranty, express or implied, as to
results to be obtained by Markit or its affiliates, the parties to
the Contracts or any other person with respect to the use of the
Underlying Data or any data included therein. BlackRock makes no
express or implied warranties and expressly disclaims all
warranties of merchantability or fitness for a particular purpose
or use with respect to the Underlying Data or any data included
therein. Without limiting any of the foregoing, in no event shall
BlackRock have any liability for any special, punitive, direct,
indirect or consequential damages (including lost profits)
resulting from the use of the Underlying Data or any data included
therein, even if notified of the possibility of such
damages.
iShares® is a registered trademark of BlackRock Fund Advisors
and its affiliates.
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SOURCE Cboe Global Markets, Inc.