Cboe IBHY Futures Set All-Time Monthly Volume Record, Surpassing $5 Billion Total Monthly Notional Value Traded For First Time

Nearly 40,000 contracts traded during July 2021, representing approximately $5.9 billion in notional value
July was the fourth consecutive record month, with total notional value in IBHY futures up 52 percent over the prior month
IBHY futures are designed to help provide broad exposure to the U.S. corporate bond market through an exchange-traded, centrally cleared vehicle

Cboe Global Markets, Inc. (Cboe: CBOE), a leading provider of global market infrastructure and tradable products, today announced that trading volume in Cboe® iBoxx® iShares® $ High Yield Corporate Bond Index (Ticker: IBHY) futures reached an all-time monthly high in July 2021 and surpassed $5 billion in total notional value traded for the first time. A total of 39,919 contracts were traded during the month, representing approximately $5.9 billion in notional value, up 52 percent over the prior month. The previous record was set in June 2021 with a total of 26,490 contracts traded, representing approximately $3.9 billion in notional value.

"IBHY futures offer an exchange-traded, centrally cleared tool to help investors mitigate credit risk, efficiently allocate capital to the corporate bond market and implement trading strategies in a convenient, standardized vehicle," said Michael Mollet, Vice President, Futures at Cboe Global Markets. "We believe the building liquidity and steady volume increases in IBHY futures this year are testament to their potential utility as an increasingly important tool for fixed-income investors seeking to tailor their exposure to the corporate bond market."

IBHY futures are cash-settled futures based on IHS Markit's iBoxx® iShares® $ High Yield Corporate Bond Index (IBXXIBHY Index), which is designed to reflect the performance of USD denominated high yield corporate debt and offers broad coverage of the USD high yield liquid bond universe.

In addition to IBHY futures, Cboe Futures Exchange (CFE) offers trading in Cboe® iBoxx® iShares® $ Investment Grade Corporate Bond Index (Ticker: IBIG) futures. Based on IHS Markit's iBoxx® iShares® $ Investment Grade Corporate Bond Index (IBXXIBIG Index), IBIG futures help allow investors to implement investment-grade fixed-income trading strategies in a convenient, standardized vehicle.

IBHY and IBIG futures launched on Cboe Futures Exchange in the fall of 2018. 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.