Cboe preparing futures for US corporate bond index

Business | Markets 5/16/2018, 5:07 PM
Cboe preparing futures for US corporate bond index

Cboe Global Markets Inc. said on Wednesday that it is working on a debut broad-based index futures tracking corporate debt securities in the United States. The endeavor was launched in cooperation with IHS Markit Ltd. and BlackRock Inc. The latter runs the iShares platform for exchange-traded funds (ETFs), the largest in the world.

The three entities joined forces to expand the scope of the indexes introduced by BlackRock and IHS Markit, which operates iBoxx. Cash-settled company bond index futures would be the first of a kind.

The products, expected to start trading in the summer, will track publicly disclosed eligible holdings of the iShares iBoxx $ High Yield Corporate Bond ETF and the publicly disclosed eligible holdings of the iShares iBoxx $ Investment Grade Corporate Bond ETF, the statement adds and reveals the high-yield gauge would be the first to start, pending regulatory clearance.

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