Cboe® iBoxx® $ Emerging Market Bond Index (IEMD) futures provide a standardized, exchange-traded tool for efficiently managing risk and gaining exposure to U.S. dollar denominated emerging market sovereign and sub-sovereign debt.
Benefits of Trading IEMD Futures
Easily Express Market Views
Simply short or go long and add beta exposure with a broad index that covers hundreds of bonds and many emerging market countries.
Maximize Capital Efficiency
IEMD futures provide capital-efficient access to emerging market bond exposure compared to cash instruments and OTC derivatives.
Expand Trading Opportunities
Access new relative value opportunities between total return swaps and other credit derivatives.
Mitigate Counterparty Risk
Trade with confidence using exchange traded, centrally cleared products. No complex ISDA or bilateral agreements.
Price Discovery
See real-time prices and trade on- and off-screen through a central limit order books, block trade, and exchange of contract for related position (ECRP) transactions.
Operational Simplicity
Streamline the trading process and reduce operational complexities with standardized contracts.
Emerging Market Bond Index Futures
Understanding the Underlying Index
IEMD futures are based on the iBoxx USD Liquid Emerging Market Sovereigns & Sub-Sovereigns Index (IBXXEMLQ Index). The IBXXEMLQ Index is published and maintained by S&P Dow Jones Indices LLC. The index is composed of bonds denominated in U.S. dollars. Each bond included in the IBXXEMLQ Index must have at least $1 billion outstanding and a remaining time to maturity of at least one year at the rebalancing date.
Download this guide for an overview of the iBoxx USD Emerging Markets Broad Index Series, which includes the IBXXEMLQ Index.
The iBoxx® USD Liquid Emerging Market Sovereigns & Sub-Sovereigns Index is a product of S&P Dow Jones Indices LLC or its affiliates or licensors (“S&P DJI”) and has been licensed for use by Cboe Exchange, Inc. iBoxx®, S&P®, S&P 500®, SPX®, US 500®, The 500®, DSPX®, DSPBX®, iTraxx®, CDX®, 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® $ Emerging Market Bond Index ("IEMD") 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® USD Liquid Emerging Market Sovereigns & Sub-Sovereigns Index.
There are important risks associated with transacting in any of the Cboe Company products discussed here. Before engaging in any transactions in those products, it is important for market participants to carefully review the disclosures and disclaimers contained at: https://www.cboe.com/us_disclaimers/. These products are complex and are suitable only for sophisticated market participants. These products involve the risk of loss, which can be substantial and, depending on the type of product, can exceed the amount of money deposited in establishing the position. Market participants should put at risk only funds that they can afford to lose without affecting their lifestyle.