Equity Contracts Performance
| Product Code | Ticker | Jul 23' ADV | YTD ADV | Open Interest | |
|---|---|---|---|---|---|
| FTSE | |||||
| FTSE 100 Index Futures | Z | Z A | 88,927 | 126,375 | 558,535 |
| FTSE 100 Index Options | ESX | UKX | 35,535 | 39,910 | 1,736,282 |
| FTSE 250 Index Futures | Y2 | YBYA | 968 | 2,085 | 28,668 |
| FTSE 100 Dividend Index Futures | XZ | UKDA | 1,961 | 1,890 | 145,282 |
| MSCI | |||||
| MSCI Emerging Markets Index Futures | MME | MESA | 104,110 | 153,131 | 1,137,285 |
| MSCI EAFE Index Futures | MFS | MFSA | 26,282 | 50,495 | 405,023 |
| MSCI EM Asia Index Futures | ASN | ANSA | 166 | 2,315 | 38,462 |
| MSCI Brazil Index Futures | MCG | MCBA | 425 | 1,404 | 27,478 |
| MSCI ACWI Index Futures | MMW | MWAA | 195 | 531 | 12,266 |
Climate & ESG | |||||
| MSCI World Climate PAI Index Futures | MVR | MRPA | 27 | 234 | 9,840 |
| MSCI World ESG Leaders Index Futures | LFW | LFWA | 19 | 187 | 5,491 |
| MSCI EM ESG Leaders Index Futures | LFM | LFOA | 71 | 318 | 7,190 |
| MSCI Europe Climate PAI Index Futures | MVT | MTEA | 7 | 66 | 3,294 |
| FANG | |||||
| Micro FANG+ Index Futures | FNG | FNSA | 7,593 | 6,970 | 3,986 |
| Single Stock Derivatives | |||||
| Futures | - | - | 48,895 | 80,412 | 410,703 |
| Options | - | - | 90,259 | 113,149 | 4,411,226 |
Products Highlights
FTSE 100 Total Return Futures
July saw the FTSE 100 Total Return Future open interest grow to over £1.1Bln notional, driven from Buy and Sell side trading activity and reflecting demand by market participants for the margin efficiencies the contract offers. Over 90% margin offsets are available between the FTSE 100 Total Return Futures and FTSE 100 Futures and Options cleared at ICE Clear Europe. The contracts also have the added benefit of a trading and clearing fee holiday until end of December 2023 and do not have additional maintenance fees.
FTSE 100 ESG Risk Adjusted Index Futures & FTSE All-Share ESG Risk Adjusted Index Futures
Following the June launch of the ICE FTSE 100 and FTSE All-Share ESG Risk Adjusted futures our partners at FTSE Russell explain the measured approach in designing this U.K. sustainable Index series, in their recent blog ‘Squaring the circle on Carbon, ESG and Tracking Error’.
MSCI World Real Estate NTR Index Futures
As a consequence of the MSCI World Real Estate Sector Index (MSCI Index Code: 132085) ceasing to be calculated from Nov. 1, 2023. There will be no further delivery months introduced in the MSCI World Real Estate Index Future (PCC: MWS) contract and that all delivery months with no OI (i.e., December 2023, March 2024, June 2024, and September 2024) have been suspended. In Circular 23/098 ICE announced the launch of the new MSCI World Real Estate NTR Index Futures contract (PCC: MWC / BBG SCCA Index). Position holders are encouraged to transfer existing positions in the MSCI World Real Estate NTR Index Futures (MWS) to the newly listed MSCI World Real Estate NTR Index Futures (MWC) ahead of the September 2023 expiry.
Micro NYSE FANG+ Index Futures
Tech and tech-enabled companies have been a key driver for the stock market this year. The NYSE FANG+ index with its 10 tech related components has surged by 81% year-to-date. Factors contributing to this outstanding performance include: the widespread enthusiasm for artificial intelligence (AI), lessening concerns about a possible recession, and the anticipation of a slowdown in interest rate hikes.
This enthusiasm surrounding large U.S. tech stocks has translated into increased activity in Micro NYSE FANG+ Index Futures. Trading volume averaged 7,972 contracts per day in July, up close to 16% vs. the first half of the year.