Equity contracts performance
| Product code | Ticker | May 24' ADV | YTD ADV | Open interest | |
|---|---|---|---|---|---|
| FTSE | |||||
| FTSE 100 Index Futures | Z | Z A | 83,715 | 107,222 | 539,976 |
| FTSE 100 Index Options | ESX | UKX | 45,320 | 33,113 | 1,687,450 |
| FTSE 250 Index Futures | Y2 | YBYA | 1,771 | 1,574 | 29,906 |
| FTSE 100 Dividend Index Futures | XZ | UKDA | 1,385 | 2,018 | 143,539 |
| MSCI | |||||
| MSCI Emerging Markets Index Futures | MME | MESA | 96,527 | 121,100 | 1,063,821 |
| MSCI EAFE Index Futures | MFS | MFSA | 28,922 | 43,068 | 411,633 |
| MSCI EM Asia Index Futures | ASN | ANSA | 225 | 752 | 23,036 |
| MSCI Brazil Index Futures | MCG | MCBA | 485 | 1,091 | 42,706 |
| MSCI ACWI Index Futures | MMW | MWAA | 142 | 432 | 16,374 |
Climate & ESG | |||||
| MSCI World Climate PAI Index Futures | MVR | MRPA | 19 | 250 | 7,547 |
| MSCI World ESG Leaders Index Futures | LFW | LFWA | 123 | 221 | 5,920 |
| MSCI EM ESG Leaders Index Futures | LFM | LFOA | 144 | 223 | 5,638 |
| MSCI Europe Climate PAI Index Futures | MVT | MTEA | 30 | 130 | 6,644 |
| FANG | |||||
| Micro FANG+ Index Futures | FNG | FNSA | 7,546 | 8,170 | 10,972 |
| Single Stock Derivatives | |||||
| Futures | - | - | 89,448 | 59,292 | 564,517 |
| Options | - | - | 56,480 | 53,729 | 3,385,737 |
Products highlights
FTSE Index Derivative Complex
Following UK Prime Minister Rishi Sunak’s announcement of a general election on July 4th, attention has turned to ICE’s FTSE Index futures complex as an essential tool for managing UK equity risk, particularly the FTSE 250 Index futures as the index is often regarded as a more accurate barometer of the country’s economic state. In May, trading volumes for ICE’s FTSE 250 Index futures, saw a significant increase with May 24’ ADV up 70% compared to May 23’ at 1.9k lots. Open interest (OI) grew by over 9%, with a notional value of £1.2b. In the meantime, FTSE 100 Index futures has reached a YTD ADV of 134k lots and notional open Interest OI of £45b.
On 16th May, ICE hosted an evening of celebration at the London Stock Exchange to mark the 40th Anniversary of the FTSE 100 Index Futures. In collaboration with FTSE Russell, we were joined by clients who have been instrumental in developing the index future’s liquidity and supporting its evolution into one of the world’s largest contracts.
MSCI Index Derivative Complex
During the May rebalancing of MSCI indexes, the proportion of Indian securities within the benchmark MSCI Emerging Market Index increased to 18.8%, highlighting the growing significance of the Indian subcontinent in global markets.
In 2024, ICE's MSCI India Index future experienced strong growth, with ADV + 185% vs May 23’ and an OI of 7.5k lots. ICE is dedicated to developing a robust and liquid central order book to enhance trading efficiency for our customers. The top-of-book and depth-of-screen pricing for the ICE MSCI India (Bloomberg ticker LZWA) demonstrate our commitment to this goal. In the key hours of trading the bid/ask spread averages a tight 1.7 index points in over $2m notional value.
Micro NYSE FANG+ Index Futures
The NYSE FANG+ index has continued its stellar performance in 2024, rising over 18% YTD and hitting record trading highs each month. In May, the index's performance was bolstered by increasing optimism around artificial intelligence, particularly with Nvidia's announcement of next-generation chips, which propelled Nvidia's stock to an impressive 128.9% gain YTD.
The Micro NYSE FANG+ futures averaged 7,500 lots ADV, pushing the 2024 YTD trading volume up by over 22%. OI reached an all-time month-end record of 10,972 lots, equivalent to $574 million in notional value.