In this report
Equity Products Performance
| Product Code | Bloomberg Ticker | Aug ADV | YTD ADV* | Open Interest | |
|---|---|---|---|---|---|
| Total | 6,478,972 | 6,564,296 | 11,208,749 | ||
| S&P 500 | 3,972,466 | 4,074,004 | 8,993,721 | ||
| Futures | 2,551,680 | 2,840,732 | 3,218,733 | ||
| E-mini | ES | ESA Index | 1,538,894 | 1,744,521 | 2,266,480 |
| Micro E-mini | MES | HWA Index | 961,175 | 1,039,535 | 247,894 |
| BTIC | EST | STEA Index | 42,422 | 46,678 | - |
| BTIC+ | ES1, ES2 | ES1BTIC yyyymmdd Index | - | - | - |
| Dividend Future | SDA, SDI | ASDA, ISDA Index | 4,608 | 4,263 | 259,582 |
| Total Return Futures | TRI, CTR | SRTA, CTIA Index | 3,469 | 4,436 | 425,821 |
| TACO | ESQ | TQA Index | 365 | 256 | - |
| TACO+ | EQ1 | EQ1TACO yyyymmdd Index | - | - | |
| E-mini ESG | ESG | SLBA Index | 747 | 1,043 | 18,956 |
| Options | 1,420,786 | 1,233,272 | 5,774,988 | ||
| E-mini | 1,405,217 | 1,217,505 | 5,718,940 | ||
| End-Of-Month | EW | SCA Index | 127,431 | 129,897 | 679,701 |
| Quarterlies | ES | ESA Index | 139,619 | 125,982 | 2,019,101 |
| Monday Weekly | E1A-E5A | IWWA Index | 158,755 | 132,442 | 120,305 |
| Tuesday Weekly | E1B-E5B | IMBA Index | 189,793 | 149,700 | 196,008 |
| Wednesday Weekly | E1C-E5C | IEWA Index | 151,619 | 120,816 | 200,723 |
| Thursday Weekly | E1D-E5D | IMDA Index | 148,092 | 137,769 | 85,552 |
| Weekly | EW1-EW4 | 1EA-4EA Index | 489,907 | 420,900 | 2,417,550 |
| Micro E-mini | 15,569 | 15,767 | 56,048 | ||
| NASDAQ | 1,933,825 | 1,793,820 | 648,754 | ||
| Futures | 1,851,225 | 1,727,418 | 433,498 | ||
| E-mini | NQ | NQA Index | 656,360 | 657,422 | 266,220 |
| Micro E-mini | MNQ | HWB Index | 1,190,070 | 1,064,516 | 167,278 |
| BTIC | NQT | QNTA Index | 4,796 | 5,479 | - |
| Options | 82,600 | 66,402 | 215,256 | ||
| E-mini | 77,338 | 62,564 | 202,451 | ||
| End-Of-Month | QNE | QNAA Index | 4,952 | 5,771 | 14,236 |
| Quarterlies | NQ | NQA Index | 12,050 | 9,540 | 180,129 |
| Monday Weekly | Q1A-Q5A | QNBA Index | 7,112 | 5,844 | 3,006 |
| Tuesday Weekly | Q1B-Q5B | QETA Index | 8,332 | 5,657 | 2,961 |
| Wednesday Weekly | Q1C-Q5C | QNCA Index | 10,282 | 7,656 | 2,119 |
| Thursday Weekly | Q1D-Q5D | QHTA Index | 9,022 | 6,649 | 2,239 |
| Weekly | QN1-QN4 | 1OA-4OA Index | 25,586 | 21,447 | 57,444 |
| Micro E-mini | 5,262 | 3,839 | 12,805 | ||
| DOW JONES | 238,797 | 282,374 | 116,915 | ||
| Futures | 238,783 | 282,342 | 116,786 | ||
| E-mini | YM | DMA Index | 154,517 | 169,973 | 94,938 |
| Micro E-mini | MYM | HWI Index | 82,884 | 110,919 | 167,278 |
| BTIC | YMT | YMTA Index | 1,381 | 1,450 | - |
| Options | 14 | 32 | 129 | ||
| E-mini | 14 | 32 | 129 | ||
| Russell 2000 | 252,383 | 302,917 | 572,721 | ||
| Futures | 247,600 | 296,020 | 544,391 | ||
| E-mini | RTY | RTYA Index | 177,343 | 212,899 | 520,505 |
| Micro E-mini | M2K | HWR Index | 66,536 | 78,775 | 23,886 |
| BTIC | RLT | RLBA Index | 3,721 | 4,345 | - |
| Options | 4,784 | 6,898 | 25,948 | ||
| E-mini | 4,784 | 6,898 | 25,948 | ||
| S&P 400 - MIDCAP | 10,475 | 13,010 | 37,725 | ||
| Futures | 10,475 | 13,010 | 37,725 | ||
| E-mini | ME | FAA Index | 10,475 | 13,010 | 37,725 |
| INTERNATIONAL | 30,535 | 36,242 | 74,022 | ||
| Futures | 30,535 | 36,242 | 74,022 | ||
| Nikkei 225 | ENY, N1, NK | YMEA, NXA, NHA Index | 30,526 | 36,228 | 73,976 |
| Ibovespa | IBV | IBAA Index | 1 | 2 | 12 |
| TOPIX | TPY | TPYA Index | 8 | 12 | 34 |
| SECTORS | 7,982 | 15,797 | 265,817 | ||
| Futures | 7,982 | 15,797 | 265,817 | ||
| Comm. Srvcs. | XAZ | XASA Index | 61 | 261 | 6,079 |
| Cons. Discr. | XAY | IXYA Index | 254 | 496 | 8,387 |
| Cons. Staples | XAP | IXRA Index | 1,081 | 1,503 | 22,990 |
| Energy | XAE | IXPA Index | 1,222 | 2,122 | 29,965 |
| Financial | XAF | IXAA Index | 839 | 2,184 | 37,842 |
| Health Care | XAV | IXCA Index | 583 | 1,092 | 15,675 |
| Industrial | XAI | IXIA Index | 305 | 1,015 | 15,097 |
| Materials | XAB | IXDA Index | 252 | 783 | 19,076 |
| Real Estate | XAR | XARA Index | 211 | 484 | 9,843 |
| Technology | XAK | IXTA Index | 525 | 820 | 11,762 |
| Utilities | XAU | IXSA Index | 1,324 | 2,111 | 47,061 |
| Dow Jones Real Estate | JR | DJEA Index | 1,323 | 2,917 | 42,019 |
| Nasdaq Biotech | BQ | DBA Index | 0 | 9 | 21 |
| FTSE | - | 0 | - | ||
| Futures | - | 0 | - | ||
| FTSE China 50 | FT5 | FCYA Index | - | 0 | - |
| Russell 1000 | 298 | 1,356 | 26,591 | ||
| Futures | 298 | 1,356 | 26,591 | ||
| Russell 1000 | RS1 | RSYA Index | 116 | 386 | 8,456 |
| Russell 1000 Growth | RSG | RGYA Index | 59 | 238 | 4,236 |
| Russell 1000 Value | RSV | RVYA Index | 122 | 733 | 13,899 |
| Cryptocurrency | 28,074 | 37,118 | 78,267 | ||
| Futures | 25,968 | 34,408 | 38,615 | ||
| Bitcoin | BTC | BTCA Curncy | 10,380 | 10,775 | 15,160 |
| Micro Bitcoin | MBT | BMRA Curncy | 6,988 | 9,928 | 8,000 |
| Ether | ETH | DCRA Curncy | 3,633 | 4,893 | 4,393 |
| Micro Ether | MET | MERA Curncy | 4,967 | 8,813 | 11,062 |
| Options | 2,107 | 2,710 | 39,652 | ||
| Bitcoin | BTC | BTCA Curncy | 276 | 330 | 6,042 |
| Micro Bitcoin | WM | BMRA Curncy | 715 | 974 | 11,391 |
| Ether | ETH | DCRA Curncy | 181 | 90 | 3,464 |
| Micro Ether | VM | MERA Curncy | 1,116 | 1,317 | 18,755 |
| Other US Indices | 1,395 | 5,606 | 277,314 | ||
| Futures | 2,491 | 5,111 | 108,071 |
Source: CME Group
*Through August 31, 2023
ADV and Open Interest
- Equity Index futures and options volume averaged 6.5 million contracts per day in August 2023 (+19% vs. July-2023).
- Equity Index open interest averaged 10.8 million contracts per day for the month of August 2023 (+3% vs. July-2023).
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Product Highlights
Alternative Investment
Cryptocurrencies
Ether/Bitcoin Ratio futures launched July 31, enabling traders to capture the relative value of ether and bitcoin in a single transaction. The new contract is cash-settled based on the settlement prices of the corresponding futures contracts. Like inter-commodity spreads, ratio futures can help maintain price alignment between the two underlying contracts, potentially improving the bid-ask spreads for the outright contracts. Read the FAQ to learn more.
Bitcoin futures and options: Institutional interest remains strong as investors continue to seek regulated venues/products to hedge rising market volatility and manage risk/exposure. Futures trading in August averaged 10.4K and open interest averaged 15.7K. Bitcoin options have traded over 163K since launch. Average OI was 6.2K in August, up 20% MoM.
Micro Bitcoin futures: Launched May 21, Micro Bitcoin futures have traded over 9.1M contracts since then. The futures are 1/10 of a bitcoin and settled to the CF Bitcoin Reference Rate. July ADV was 7K and OI averaged 10K.
CME Group introduced options on Micro Bitcion futures and options on Micro Ether futures starting March 28. The options are sized at 1/10th of their respective tokens. Now, over 600K contracts traded since launch across the various expiries with trades submitted from EMEA, APAC, and North America. New expiries are now available. Enjoy greater precision and versatility in managing short-term bitcoin and ether risk with the expansion of weekly options expiries across our Micro Cryptocurrency futures and options suite. Over 663K micro options contracts have traded with trading picking up across the newly listed expiries. August combined ADV was 1.8K, +60% vs. July 2023. For more information on Micro Bitcoin futures and Micro Ether options, read the fact card and FAQ.
Ether futures: CME Group launched Ether futures on February 8, 2021. The contract is cash settled and based on the regulated CME CF Ether-Dollar Reference Rate. Nearly 3.3M CME Ether futures contracts have traded since launch (equivalent to 164M Ether). August ADV was 3.6K and open interest averaged 3.7K.
Ether options: Launched September 12, Ether options offer another way to efficiently manage ether exposure at a 50x multiplier. Over 17K contracts have traded since launch, equivalent to over 841K ether. August open interested averaged a record 3.3K. Read the Ether futures fact card or FAQ to learn more.
Micro Ether futures: Launched December 2021, nearly 6.6M contracts have traded since launch. ADV in August was 5K and OI averaged 12.1K. Sized at 1/10 of one ether, the contract provides an efficient, cost-effective way to manage exposure to one of the largest cryptocurrencies by market capitalization. Enjoy the same features of the larger Ether futures (ETH) at a fraction of the size, settled to the regulated CME CF Ether-Dollar Reference Rate.
Bitcoin Euro and Ether Euro futures: CME Group launched Bitcoin Euro and Ether Euro futures on August 29. The new contracts are designed to match that of their U.S.-denominated counterparts at five bitcoin or 50 ether per contract. The contracts will settle to the respective CME CF Bitcoin-Euro Reference Rate (BTCEUR_RR) and CME CF Ether-Euro Reference Rate (ETHEUR_RR). To learn more, visit the Cryptocurrency futures FAQ or Bitcoin Euro and Ether Euro futures fact card.
Equity Index
Micro E-mini futures: Nearly 2.3B Micro E-mini Equity Index futures contracts have traded since launch. Combined ADV in August was 2.3M (+27% vs. July-2023). Micro E-mini S&P 500 futures traded a combined 1M contracts on August 23, just over four years since launch. Now you can trade Micro E-mini S&P MidCap 400 and SmallCap 600 futures, launched March 20.
Micro E-mini options: CME Group launched Micro E-mini options on the S&P 500 and Nasdaq-100 indices in 2020. Micro E-mini Nasdaq-100 options continue to gain ground against their Micro E-mini S&P 500 option counterpart in terms of volume contribution. Since launch, nearly 9.7M contracts have traded. August ADV was 20.8K (+29% vs. July-2023).
Enjoy greater precision and versatility in managing short-term exposure with the introduction of Micro E-mini S&P 500 and Nasdaq-100 Monday, Tuesday, Wednesday, and Thursday options launched February 13. These new contracts complement the existing Friday weekly, end-of-month, and quarterly options on Micro E-mini S&P 500 and Nasdaq-100 futures. Visit the Micro E-mini options FAQ for more details.
E-mini S&P 500 option blocks: August 2023 was a record setting month for E-mini S&P 500 options on futures with ADV for August 2023 reaching over 1.4M contracts. Participation in ES options blocks continues to grow, allowing market participants to execute large trades with greater efficiency. Nearly 40M ES options blocks have traded, with August ADV at 108K contracts (+12% vs. July-2023).
NQ options became block eligible starting January 2022, with a minimum block threshold of 60 contracts. Over 96K contracts have traded since eligibility.
Dividend futures: CME Group Dividend futures combined August ADV was 4.7K. S&P 500 Annual Dividend Index futures August ADV was 3.6K. Nearly 73K contracts have traded since the launch of CME Annual Dividend Index futures on Nasdaq-100 and Russell 2000 in early 2022.
TOPIX futures: Launched November 21 2022, USD-denominated TOPIX index futures provide market participants a new way to capture benchmark Japanese equity exposure while minimizing FX risk. This is the first USD-denominated TOPIX futures contract, which complements the existing yen-denominated TOPIX contract and provides trading opportunities in different currencies. Achieve capital efficient exposure by saving on potential margin offsets against other Equity Index futures at CME Group. Traders can utilize the dynamic quanto spreading opportunities between the yen- and USD-denominated TOPIX contracts created by the JPY/USD exchange rate. Access trading through outrights electronically on Globex, capture the certainty of the close using Basis Trade at Index Close (BTIC), or bilaterally negotiate EFP transactions.
