CHICAGO, Sept. 5,
2023 /PRNewswire/ -- CME Group, the world's
leading derivatives marketplace, today announced that it will
expand its benchmark interest rates offering with the launch of
U.S. Treasury Bill (T-Bill) futures on October 2, pending regulatory review. The new
T-Bill futures contract will begin trading amid record demand for
CME Group U.S. Treasury futures, with open interest reaching
19,814,295 contracts for the first time on August 23.
"As we continue to see record risk transfer in the U.S. Treasury
market, our new T-Bill futures will enable clients to hedge
exposure to short-term debt with the same value proposition offered
across our U.S. Treasury and SOFR complexes," said Agha Mirza, CME Group Global Head of Rates and
OTC Products. "With open interest approaching an unprecedented 20
million contracts, we are also seeing a record number of large open
interest holders in U.S. Treasury futures, which advances
efficiencies, deep liquidity and a share of volume that exceeds
associated cash markets."
Adding to the CME Group short-term interest rate (STIR) product
portfolio, T-Bill futures will be cash-settled and based on the
13-week U.S. Treasury Bill auction discount yield.
T-Bill futures will receive automatic margin offsets against
existing CME Group Interest Rate futures upon launch and will be
listed with, and subject to, the rules of CME. Additionally, these
contracts will become eligible for portfolio margining against
other cleared interest rate swaps and futures shortly after
launch.
Open interest in the company's current suite of deeply liquid
U.S. Treasury futures has grown to $2.4
trillion in 2023, an increase of 49% year-over-year, with a
record average daily volume of 5.2 million contracts.
For more information on T-Bill futures from CME Group, please
see: https://www.cmegroup.com/tbill.
About CME Group
As the world's leading derivatives marketplace, CME Group
(www.cmegroup.com) enables clients to trade futures, options, cash
and OTC markets, optimize portfolios, and analyze data – empowering
market participants worldwide to efficiently manage risk and
capture opportunities. CME Group exchanges offer the widest range
of global benchmark products across all major asset classes based
on interest rates, equity indexes, foreign
exchange, energy, agricultural
products and metals. The company offers futures and
options on futures trading through the CME Globex platform, fixed
income trading via BrokerTec and foreign exchange trading on the
EBS platform. In addition, it operates one of the world's leading
central counterparty clearing providers, CME Clearing.
CME Group, the Globe logo, CME, Chicago Mercantile Exchange,
Globex, and, E-mini are trademarks of Chicago Mercantile Exchange
Inc. CBOT and Chicago Board
of Trade are trademarks of Board of Trade of the City of Chicago, Inc. NYMEX, New York
Mercantile Exchange and ClearPort are trademarks of New York
Mercantile Exchange, Inc. COMEX is a trademark of Commodity
Exchange, Inc. BrokerTec and EBS are trademarks of BrokerTec Europe
LTD and EBS Group LTD, respectively. The S&P 500 Index is a
product of S&P Dow Jones Indices LLC ("S&P DJI").
"S&P®", "S&P 500®", "SPY®", "SPX®", US 500 and The 500 are
trademarks of Standard & Poor's Financial Services LLC; Dow
Jones®, DJIA® and Dow Jones Industrial Average are service and/or
trademarks of Dow Jones Trademark Holdings LLC. These trademarks
have been licensed for use by Chicago Mercantile Exchange Inc.
Futures contracts based on the S&P 500 Index are not sponsored,
endorsed, marketed, or promoted by S&P DJI, and S&P DJI
makes no representation regarding the advisability of investing in
such products. All other trademarks are the property of their
respective owners.
CME-G
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SOURCE CME Group