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- IBHY futures traded a record high of nearly 4,500 contracts, with a notional value of approximately $650 million, on Monday, December 28
- IBIG futures see second highest trading day of all-time this week
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.
