October, 2019

ICE Equity Derivatives Report

October 2019 Highlights
ICE: The leading venue for MSCI Index Futures

Favorable global conditions in October saw a rebound in emerging and developed market equities, with the MSCI EM and World NTR USD indices up 4.5% and 3.6% respectively.
The MSCI EM Index Futures open interest increased by 125k lots (~US$ 6.5 billion) in October alone, as institutional investors participated in the equities rally and turned to ICE's futures contracts.

  • ICE’s global MSCI complex: total YTD volumes of 44 million lots up 14%, with a total OI in excess of 2 million lots (notional of US$ 121 Billion)
  • MSCI Emerging Markets Index future (BBG code: MESA) YTD volumes up 19% with OI up 13.5% at 1.35 million lots (notional of US$ 70 Billion)
  • MSCI EAFE Index Future (BBG code: MFSA) YTD volumes up 22% with OI up 23% at 350k lots (notional of US$ 34 Billion)

Dividend Adjusted Single Stock Futures

Dividend Adjusted Stock Futures (“DASF”) are Single Stock Futures without the dividend risk. A buyer of a DASF is solely exposed to the equity performance of the underlying stock. ICE (then Liffe) first listed DASF in 2013 and is the only exchange to offer DASF on shares from 25 countries denominated in 13 currencies acros developed and emerging markets. ICE offers DASF on over 700 underlyings.

ICE - The home of UK Equity Derivatives
October saw a temporary Brexit reprieve until January. The confirmation of a general election before Christmas could prove decisive in how the UK leaves the European Customs Union.

With UK equities influenced by political turbulence, investors increased their activity in mid cap stocks, with ADV in the FTSE 250 Futures up 106% and OI in the FTSE 250 Options up 170% year on year. ICE will enhance its UK Mid Cap by launching FTSE 250 Futures Trade at Index Close on December 2nd, allowing investors to easily trade the cash index closing level. This contract will be tradable alongside the FTSE 100 Futures Trade at Index Close, which traded over 1,400 lots in October.

- FTSE 100 Index Futures OI up 29% YoY
- FTSE 100 Index Options volume up 106% YoY
- FTSE 250 Index Options OI up 170% YoY

NYSE® FANG+™: trade the top of the tech
- FANG+ Futures volume up 18% YoY, ADV 2,347 lots
- FANG+ Futures OI up 77% YoY

MSCI Index Futures

FTSE 100 Futures

FTSE 100 Options

FTSE 250 Index Futures

FTSE 100 RDSA Dividend

Single Stock Options

FANG+ Futures

Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS)”.
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