Bloomberg U.S. Corporate High Yield Very Liquid Index futures were designed to bring liquidity and efficiency to the high yield bond market. These contracts allow for new hedging and risk management solutions in high yield credit, making them ideal for expressing tactical views, implementing relative value trades, hedging or improving liquidity management strategies.
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Features and benefits
Broad high yield bond exposure
The underlying index consists of over 500 issuers and more than 1,000 members.
Less tracking error than CDX
More representative of the market than credit default swaps, with the benefits of central clearing.
Centralized liquidity
Transparent and fair pricing for the overall high yield market to enable price discovery.
No ISDA required
ISDA agreements, which impact swap transactions, are not an issue in futures markets.
Spread trade opportunities
Use High Yield Credit futures to express views as a spread trade vs. Investment Grade or Equity Index futures.
Efficiencies vs. ETFs
Enjoy no management fees and leveraged exposure, which is currently unavailable in the ETF market.
Explore this product in depth
Review contract highlights
UNDERLYING INDEX
Bloomberg U.S. Corporate High Yield Very Liquid Index
Contract Unit
150 x Index Points
Price Quotation
Index Points
Product Code
CME Globex: HYB
CME ClearPort: HYB
Clearing: HYB
Trading Hours
CME Globex:
Sunday 5:00 p.m. – Friday – 4:00 p.m. CT with a daily maintenance period from 4:00 p.m. – 5:00 p.m. CT
About the underlying index
The futures contracts track the Bloomberg U.S. Corporate High Yield Very Liquid Index, a benchmark that is a more liquid component of the U.S. dollar-denominated, below investment grade, fixed-rate corporate bond market. Only securities with at least $500 million outstanding and less than five years from the issue date are included.
Courses
Take self-guided courses on U.S. Treasury futures and options products.
If you're new to futures, the courses below can help you quickly understand the U.S. Treasury market and start trading.
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