Cboe® iBoxx® iShares®
Corporate Bond Index Futures

Designed to leverage the deep and liquid iShares® ETF ecosystem, the futures are based on indices that measure the performance of U.S. dollar-denominated high yield and investment grade corporate debt, and offer broad coverage of the liquid U.S. high yield and investment grade corporate bond universes.

Quotes and Quote Vendor Symbols

Download iBoxx Daily Market Statistics

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Quote Vendor Symbols

Historical Performance for IBXXIBHY and IBXXIBIG Indices

Why Trade Cboe Corporate Bond Index Futures?

Gain Broad Exposure to the $8.8 Trillion U.S. Corporate Bond Market

Cboe Corporate Bond Index futures will allow market participants worldwide to gain broad exposure to the $8.8 trillion U.S. corporate bond market through Exchange-traded, centrally cleared instruments.

Hedge Corporate Bond Credit Risk

Asset managers will be able to use Cboe Corporate Bond Index futures to help mitigate credit risk in their corporate bond portfolios.

Allocate to the Corporate Bond Market Quickly and Efficiently

Cboe Corporate Bond Index futures can provide efficient exposure to the corporate bond market for asset managers who need to allocate assets quickly due to market events or changing outlooks.

Implement Fixed Income Trading Strategies

Whether the strategy is trend following or relative value, Cboe Corporate Bond Index futures offer a convenient, standardized vehicle for fixed income trading.

Underlying Index Statistics and Methodology

IHS Markit offers an interactive webpage where market participants can access data on the indices underlying to the Cboe® iBoxx® iShares® $ Corporate Bond Index Futures. Users can download the identifiers, one year of daily index levels, yields, spreads, durations and other index level statistics as well as the latest six months of index constituents. The website also offers charting that compare the different iBoxx indices for selected attributes.

Trading Corporate Bond Index Futures

Trading of the Cboe® iBoxx® iShares® Corporate Bond Index Futures is also available on the Cboe Silexx execution management system. To learn more about Cboe Silexx, sign-up for the platform, or to take a free trial, visit:

Cboe Silexx

Advantages of Index Futures

Investors can use a number of tools - such as ETFs, options, or index futures - to gain exposure to or hedge against specific securities or asset classes. Index futures allow investors to buy or sell a given index at a specified price and on a specified date in the future. Index futures can offer a number of advantages:

Larger Notional Exposure

With a $1,000 multiplier, Cboe Corporate Bond Index futures can offer investors an efficient way to gain exposure to the high-yield corporate bond market.

Lower Margin Requirements

Futures typically have significantly lower margin requirements than buying a security on margin, which allows investors to gain exposure with a smaller upfront investment.

Cash Settled

Cash settlement allows for simple exposure to the high yield fixed income asset class without the operational burdens of owning a broad portfolio of corporate bonds.

Potential Tax Advantages

Typically, futures are taxed using the 60/40 rule under section 1256 of the Tax Code where 40% of gains is taxed at the short-term rate and 60% at the long-term rate. Investors should consult with their tax advisors to determine how the profit and loss on any strategy will be taxed.

Trade Long or Short

Because futures markets do not discriminate directionally, a trader can enter the market on the short side just as easily as the long side. Margin requirements are the same no matter what the trader’s directional bias might be.