CME Group’s Credit Derivatives Surpass 450,000 Contracts as Exchange Ranks 221st in U.S. Equity Volume

On September 8, 2025, , , . equity market. The exchange operator announced a key milestone in its credit derivatives segment, . , .

The growth reflects strong market adoption of CME’s duration-hedged contracts, which enable investors to manage credit risk through intercommodity spreads with U.S. Treasury futures. . Executives highlighted the product’s relevance in a low-credit-spread environment, where precision hedging tools are critical for institutional clients navigating corporate bond indexes.

Industry participants emphasized the product’s flexibility, with PGIM Fixed Income noting the ability to isolate credit and duration risk while leveraging CME’s liquid futures markets. J.P. Morgan executives underscored the contracts’ unique derived block functionality, offering enhanced exposure management and execution flexibility. The instruments, based on Bloomberg U.S. corporate bond indexes, provide access to one of the world’s largest fixed income markets.

To build an accurate back-test, key parameters require clarification: universe scope (e.g., Russell 3000 vs. full U.S. stocks), re-balancing timing (close-to-close vs. open-to-close), weighting schemes (equal-weight vs. dollar-volume), transaction cost assumptions, and benchmark comparisons. Resolving these details will ensure the strategy’s replicability and alignment with market realities.