CME Group has expanded its credit ecosystem with the launch of S&P UBS USD Liquid Leveraged Loan Index futures, which began trading on 14 September.
The derivatives exchange operator said the contracts, which track the S&P UBS index, offer a centrally cleared, capital-efficient tool for relative value trading, extending its credit offering beyond investment grade and high-yield markets.
“Our new S&P UBS Liquid Leveraged Loan Index futures give institutions the risk management tools they’ve been asking for – beyond investment grade and high-yield markets,” commented Ted Carey, executive director of rates and OTC products at CME Group.
“By offering this new product within a single clearing house, we can provide clients with unparalleled cross-margining benefits and free up more capacity on their balance sheets.”
Cameron Drinkwater, chief product and operations officer at S&P Dow Jones Indices, described the launch as a significant milestone for the US leveraged loan market, calling it the first exchange-traded futures contract linked to a transparent and representative leveraged loan benchmark.
CME Group said its credit futures, first launched in June 2024, have since seen more than 1.5 million contracts trade across the complex, with open interest exceeding $2 billion in September 2026.
The contracts can provide automatic margin offsets against the exchange’s interest rate and equity futures, part of the $95 billion in daily efficiencies it delivers to clients.
They are available to trade on CME Globex and eligible for clearing via CME ClearPort.