Features and Benefits
Gain unparalleled capital efficiency with lower initial margin requirements and potentially better 60/40 tax treatment.*
Easy to Short
Enter a short position as easily as a long position, free from securities shorting regulation.
Trade with confidence using exchange traded, centrally cleared products. No complex ISDA or bilateral agreements, reducing counter-party risk.
Broad U.S. Corporate Bond Exposure
Quickly add or remove exposure to the corporate bond market.
1 IBHY contract = +2500 high yield bonds
1 IBIG contract = +1100 investment grade bonds
Corporate Bond futures and options may potentially be UCITS eligible unlike most U.S.-listed ETFs.
See real-time prices and source liquidity on- and off- screen via central limit order books, block trades, and ECRP.
How Institutions Utilize Corporate Bond Futures and Options
Whether you’re looking for a capital-efficient hedge, yield enhancement or liquidity management, Cboe Corporate Bond futures and options are designed to help you pursue your fixed income goals.
Understanding the Index Construction: Similar Beta, But Different Underlyings
IBHY futures have similar economic exposure to and are highly correlated with the HYG ETF. Similarly, IBIG futures have similar economic exposure to and are highly correlated with the LQD ETF. Learn how the innovative index construction methodology is inter-related with the ETF to enable easier market access to a broader range of investors.
Explore our suite of tools to gain exposure to U.S. high yield and investment grade corporate debt market.
Download Free Corporate Bond Index Futures Historical Data
Instantly access valuable historical corporate bond index futures market data to backtest trading strategies.
CFE data is compiled for the convenience of site visitors and is furnished without responsibility for accuracy and is accepted by the site visitor on the condition that transmission or omissions shall not be made the basis for any claim demand or cause for action. Your use of Cboe data is subject to the Terms and Conditions for use of Cboe Websites.
Quote Vendor Symbols
- Cboe® iBoxx® iShares® Bond Index Futures Contract Specifications
- Options on Cboe® iBoxx® iShares® Bond Index Futures Contract Specifications
- Fact Sheet
- Block/ECRP Trades
- Website Release/Consent Form
- Block/ECRP Trade Participants
- Revised Block Trade/ECRP Authorized Reporter Criteria
- Options on Cboe iBoxx iShares Bond Index Futures FAQ
- Cboe iBoxx iShares Bond Index Futures FAQ
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
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.
Cboe Global Markets, Inc. and its affiliates make no warranty, expressed or implied, including, without limitation, any warranties as of merchantability, fitness for a particular purpose, accuracy, completeness or timeliness, the results to be obtained by recipients of the products and services described herein, or as to the ability of iBoxx® iShares® $ High Yield Corporate Bond Index and the iBoxx® iShares® $ Investment Grade Corporate Bond Index (the "Indices") to track the performance of the fixed income securities market, generally, or the performance of HYG, LQD, or any subset of fixed income securities, and shall not in any way be liable for any inaccuracies, errors.
Cboe Global Markets, Inc. and its affiliates have not calculated, composed or determined the constituents or weightings of the fixed income securities that comprise the Indices and shall not in any way be liable for any inaccuracies, errors. BlackRock financial products are not sponsored, endorsed, sold or promoted by Cboe Global Markets, Inc. or any of its affiliates (collectively "Cboe") and Cboe makes no representation regarding the advisability of investing in such products. An investor should consider the investment objectives, risks, charges, and expenses of these products carefully before investing. This and other information about these products, including prospectuses, can be found at www.blackrock.com.
The iBoxx iShares $ High Yield Corporate Bond Index and the iBoxx iShares $ Investment Grade Corporate Bond Index ("iBoxx iShares $ Corporate Bond Indices") are products of S&P Dow Jones Indices LLC or its affiliates or licensors ("S&P DJI") and have been licensed for use by Cboe Exchange, Inc. iBoxx®, S&P®, "S&P 500® and "Dividend Aristocrats® are registered trademarks of Standard & Poor’s Financial Services LLC ("S&P"); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones") and has been licensed for use by S&P Dow Jones Indices; and these trademarks have been licensed for use by S&P DJI and sublicensed for certain purposes by Cboe Exchange, Inc. Cboe® iBoxx® iShares® $ High Yield Corporate Bond Index futures and options on futures and Cboe® iBoxx® iShares® $ Investment Grade Corporate Bond Index futures and options on futures are not sponsored, endorsed, sold or promoted by S&P DJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the iBoxx iShares $ Corporate Bond Indices. The iBoxx® iShares® $ High Yield Corporate Bond Index and the iBoxx® iShares® $ Investment Grade Corporate Bond Index (the "Indexes"), futures contracts on the Indexes and options on futures contracts on the Indexes ("Contracts") are not sponsored by, or sold by BlackRock, Inc. or any of its affiliates (collectively, "BlackRock").
BlackRock makes no representation or warranty, express or implied to any person regarding the advisability of investing in securities, generally, or in the Contracts in particular. Nor does BlackRock make any representation or warranty as to the ability of the Index to track the performance of the fixed income securities market, generally, or the performance of HYG, LQD or any subset of fixed income securities.
BlackRock has not calculated, composed or determined the constituents or weightings of the fixed income securities that comprise the Indexes ("Underlying Data"). BlackRock is not responsible for and has not participated in the determination of the prices and amounts of the Contracts, or the timing of the issuance or sale of such Contracts or in the determination or calculation of the equation by which the Contracts are to be converted into cash (if applicable). BlackRock has no obligation or liability in connection with the administration or trading of the Contracts. BlackRock does not guarantee the accuracy or the completeness of the Underlying Data and any data included therein and BlackRock shall have no liability for any errors, omissions or interruptions related thereto. BlackRock makes no warranty, express or implied, as to results to be obtained by S&P DJI, the parties to the Contracts or any other person with respect to the use of the Underlying Data or any data included therein.
BlackRock makes no express or implied warranties and expressly disclaims all warranties of merchantability or fitness for a particular purpose or use with respect to the Underlying Data or any data included therein. Without limiting any of the foregoing, in no event shall BlackRock have any liability for any special, punitive, direct, indirect or consequential damages (including lost profits) resulting from the use of the Underlying Data or any data included therein, even if notified of the possibility of such damages.
iShares® is a registered trademark of BlackRock Fund Advisors and its affiliates.