Trends in Futures and Options Linked to MSCI Indexes

Rohit Gupta and Hitendra D Varsani

January 4, 2022


Over the past two decades, as equity-derivative markets have grown, some investors have looked to exchange-traded futures and options as they seek to efficiently manage market risks and exposures in portfolios. Futures and options linked to MSCI indexes have also experienced substantial growth over the years, especially during volatile markets, and are currently listed on several global and local exchanges. In the visualization below, we have illustrated the aggregated “Volume Notional” (in USD), month-end “Open Interest Notional” (USD), month-end “Open Interest” and average daily volume (“ADV”) along with their moving averages (Month: last 3 months and Quarter: last 4 quarters) for all the futures and options linked to MSCI indexes.

How to interact with this plot: Use the drop-down menu at the bottom to select monthly or quarterly frequency, and then click the relevant radio button to select the required parameter. Hover the mouse over the chart to see more details.




Based on data from ICE Futures U.S., ICE Futures Europe, Singapore Exchange, Eurex, HKEX, Cboe and Tadawul. Open interest from Eurex shows a T-2 lag.

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