TMX Group to launch first Adjusted Interest Rate future

Montreal Exchange, the derivatives arm of TMX, plans to launch on Wednesday October 1 an AIR S&P/TSX 60 Total Return Index future and AIR S&P/TSX 60 Total Return Index BTC future, according to FOW Data.

These will be the group’s first AIR futures and complement TMX’s first total return index futures launched in the second quarter of 2022.

TMX said on its website: “The Adjusted Interest Rate S&P/TSX 60 Total Return Index future offers investors a standardised, exchange-traded alternative to over-the-counter total return swaps. This innovative product provides exposure to Canada's benchmark S&P/TSX 60 Total Return Index with the benefits of central clearing and enhanced capital efficiency.”

Chicago-based CME Group has reported strong demand for its AIR S&P 500 Total Return Index future since launch in June 2023. The CME product traded 355,520 lots in August, according to FOW Data, which was up 94% on the same month last year.

Also this week, the Metropolitan Stock Exchange of India and the National Stock Exchange of India are launching on Wednesday Hitachi Energy India futures and options, and Sweden’s Nasdaq OMX launched on Monday six single stock futures.

The US options exchanges are also launching a few single stock options this week, according to FOW Data.