Cboe Global Markets

Coming Soon

New Options on Corporate Bond Index Futures

CFE is introducing more choices to manage corporate bond exposure with Options on Cboe® iBoxx® iShares® Bond Index Futures launching this summer*.

To learn more view the contract specifications and


*Subject to regulatory review

Download Free Corporate Bond Index Futures Historical Data

Instantly access valuable historical corporate bond index futures market data to backtest trading strategies.

IBHY OHLC 1 Month Maturity Chart

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.

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Historical Performance for IBXXIBHY and IBXXIBIG Indices

HFM Webinar. Sponsored by Cboe. New Opportunities in Fixed Income Futures. High Yield Corporate Bond Index Futures, New Asset Class for CTAs. Watch Now

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 Resources

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.

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 (the “Indexes”) referenced herein are the property of Markit Indices Limited (“Index Sponsor”) and have been licensed for use in connection with Cboe® iBoxx® iShares® $ High Yield Corporate Bond Index Futures, Options on Cboe® iBoxx® iShares® $ High Yield Corporate Bond Index Futures, Cboe® iBoxx® iShares® $ Investment Grade Corporate Bond Index Futures and Options on Cboe® iBoxx® iShares® $ Investment Grade Corporate Bond Index Futures.  Each party to a transaction in Cboe® iBoxx® iShares® $ High Yield Corporate Bond Index Futures, Options on Cboe® iBoxx® iShares® $ High Yield Corporate Bond Index Futures, Cboe® iBoxx® iShares® $ Investment Grade Corporate Bond Index Futures or Options on Cboe® iBoxx® iShares®$ Investment Grade Corporate Bond Index Futures acknowledges and agrees that the transaction is not sponsored, endorsed or promoted by the Index Sponsor.  The Index Sponsor makes no representation whatsoever, whether express or implied, and hereby expressly disclaims all warranties (including, without limitation, those of merchantability or fitness for a particular purpose or use), with respect to the Indexes or any data included therein or relating thereto, and in particular disclaims any warranty either as to the quality, accuracy and/or completeness of the Indexes or any data included therein, the results obtained from the use of the Indexes and/or the composition of the Indexes at any particular time on any particular date or otherwise and/or the creditworthiness of any entity, or the likelihood of the occurrence of a credit event or similar event (however defined) with respect to an obligation, in the Indexes at any particular time on any particular date or otherwise. The Index Sponsor shall not be liable (whether in negligence or otherwise) to the parties or any other person for any error in the Indexes, and the Index Sponsor is under no obligation to advise the parties or any person of any error therein.

The Index Sponsor makes no representation whatsoever, whether express or implied, as to the advisability of purchasing or selling Cboe® iBoxx® iShares® $ High Yield Corporate Bond Index Futures, Options on Cboe® iBoxx® iShares® $ High Yield Corporate Bond Index Futures, Cboe® iBoxx® iShares® $ Investment Grade Corporate Bond Index Futures and Options on Cboe® iBoxx® iShares® $ Investment Grade Corporate Bond Index Futures; the ability of the Indexes to track relevant markets’ performances; or otherwise relating to the Indexes or any transaction or product with respect thereto, or of assuming any risks in connection therewith.  The Index Sponsor has no obligation to take the needs of any party into consideration in determining, composing or calculating the Indexes.  No party purchasing or selling Cboe® iBoxx® iShares® $ High Yield Corporate Bond Index Futures, Options on Cboe® iBoxx® iShares® $ High Yield Corporate Bond Index Futures, Cboe® iBoxx® iShares® $ Investment Grade Corporate Bond Index Futures or Options on Cboe® iBoxx® iShares® $ Investment Grade Corporate Bond Index Futures, nor the Index Sponsor, shall have any liability to any party for any act or failure to act by the Index Sponsor in connection with the determination, adjustment, calculation or maintenance of the Indexes. iBoxx® is a service mark of IHS Markit Limited.

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 Markit or its affiliates, 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 trade mark of BlackRock Fund Advisors and its affiliates.