CHICAGO, Aug. 4, 2021 /PRNewswire/ -- 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.
![(PRNewsfoto/Cboe Global Markets, Inc.) (PRNewsfoto/Cboe Global Markets, Inc.)](https://mma.prnewswire.com/media/622233/Cboe_Logo.jpg)
"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.
About Cboe Global Markets, Inc.
Cboe Global Markets (Cboe: CBOE), a leading provider of market
infrastructure and tradable products, delivers cutting-edge
trading, clearing and investment solutions to market participants
around the world. The company is committed to operating a trusted,
inclusive global marketplace, providing leading products,
technology and data solutions that enable participants to define a
sustainable financial future. Cboe provides trading solutions and
products in multiple asset classes, including equities, derivatives
and FX, across North America,
Europe and Asia Pacific. To learn more, visit
www.cboe.com.
Media
Contacts
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Analyst
Contact
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Angela
Tu
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Tim
Cave
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Kenneth Hill,
CFA
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+1-646-856-8734
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+44 (0)
7593-506-719
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+1-312-786-7559
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atu@cboe.com
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tcave@cboe.com
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khill@cboe.com
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CBOE-EF
Cboe®, Cboe Global Markets®, and CFE®, 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.
Cautionary Statements Regarding Forward-Looking
Information
Certain information contained
in this news
release may constitute forward-looking statements. We
caution readers not to place undue
reliance on any forward-looking statements, which speak
only as of the date made and are subject to a number of risks and
uncertainties.
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SOURCE Cboe Global Markets, Inc.