CME Group announced that its suite of Adjusted Interest Rate (AIR) Total Return futures reached an open interest (OI) record of 503,000 contracts on May 22. In addition, AIR Total Return futures average daily volume stands at 8,200 contracts for 2024, up a record 78% year over year.
“As market participants continue to navigate a changing interest rate environment, they are increasingly looking for products that provide critical cost savings and flexibility to manage their risk,” said Paul Woolman, global head of Equity Products at CME Group, in a statement. “Our suite of AIR Total Return futures provide an effective and cost-efficient alternative to OTC equivalents, all with the added benefits of pricing transparency and deep liquidity that come with on-exchange trading.”
Additional trading highlights for AIR Total Return futures year-to-date include:
- Average OI is 430,000 contracts, up 25% year over year.
- OI represents more than $138 billion in equivalent equity index notional value, an increase of 40% year over year.
- Record 42 large open interest holders on May 14 (defined by participants holding 1,000 or more contracts).
- AIR Total Return futures are available across a range of major global indices – S&P 500, Nasdaq-100, Russell 1000, Russell 2000, Dow Jones Industrial Average, and the FTSE 100.
Read our interview with CME’s Paul Woolman
And stay tuned for Finadium’s securities financing results monthly round-up for May coming out next week.