Equity contracts performance
| Product Code | Ticker | Apr 25' ADV | YTD ADV | Open Interest | |
|---|---|---|---|---|---|
| FTSE | |||||
| FTSE 100 Index Futures | Z | Z A | 109,621 | 102,651 | 388,818 |
| FTSE 100 Index Options | ESX | UKX | 36,108 | 29,772 | 1,120,331 |
| FTSE 250 Index Futures | Y2 | YBYA | 1,666 | 2,920 | 19,524 |
| FTSE 100 Dividend Index Futures | XZ | UKDA | 2,124 | 1,897 | 119,583 |
| MSCI | |||||
| MSCI Emerging Markets Index Futures | MME | MESA | 156,058 | 156,722 | 1,067,589 |
| MSCI EAFE Index Futures | MFS | MFSA | 64,301 | 59,765 | 465,106 |
| MSCI ACWI Index Futures | MMW | WMWA | 241 | 1,302 | 49,139 |
| MSCI EM ex China Index Futures | MMC | MMLA | 347 | 1,067 | 30,504 |
| MSCI Brazil Index Futures | MCG | MCBA | 463 | 923 | 27,761 |
| Climate & ESG | |||||
| MSCI EM Climate PAI Index Futures | MVU | MVYA | 52 | 340 | 14,507 |
| MSCI World Climate Change Index Futures | WOW | WOWA | 69 | 314 | 11,455 |
| MSCI Europe Climate PAI Index Futures | MVT | MTEA | 27 | 246 | 7,144 |
| MSCI World Climate PAI Index Futures | MVR | MRPA | 49 | 251 | 7,687 |
| FANG | |||||
| Micro FANG+ Index Futures | FNG | FNSA | 3,291 | 3,067 | 11,383 |
| Single Stock Derivatives | |||||
| Futures | - | - | 69,273 | 67,418 | 219,143 |
| Options | - | - | 41,839 | 42,537 | 3,545,678 |
Products highlights
FTSE Index Derivatives
U.K. equities proved relatively resilient in April despite broader market volatility. The FTSE 100 Index slipped -1.0% for the month but remains up +2.8% YTD, supported by its defensive sector composition and multinational exposure.
In contrast, the FTSE 250 Index was up +2.1% this month, its first monthly gain of 2025, though it remains down -3.7% YTD. Investor sentiment improved towards mid-cap names, supported by robust foreign inflows and stabilising domestic indicators. Risks tied to domestic exposure and lingering cost pressures facing smaller businesses continue to weigh on the outlook.
- FTSE 100 Index Futures YTD Average Daily Volume (ADV) of 102k lots, representing £8.9 billion in notional daily volume; Open Interest (OI) at 388k lots, totalling £33.8 billion in notional value.
- FTSE 100 Index options YTD ADV of 30k lots, representing £2.6 billion in notional daily volume; OI exceeding 1.12 million lots or £97.5 billion in notional value.
- FTSE 250 Index Futures YTD ADV of 2.9k lots with end of month OI of £0.8 billion or 19k lots.
Notable updates
- FTSE 250 Futures April ADV up 31% to 1,600 lots, YTD ADV up 85%
- FTSE 100 & 250 TIC volumes up 300% on April 2024, ADV at 775 lots Explore the latest ICE insights on U.K. Markets here.
MSCI Index Derivatives
Global equity markets experienced a turbulent April, marked by a sharp sell-off early in the month following the U.S. administration’s announcement of broad trade tariffs on April 2nd. The move triggered a rapid repricing of risk assets and a spike in volatility to levels not seen since the pandemic.
Market, however, rebounded strongly in the second half of the month after the U.S. introduced a 90-day pause in tariff implementation and removed levies on a range of electronic goods, easing concerns over immediate supply chain disruption. By the end of April, U.S. equities had recovered most of their losses, ending less than 3% below their early month levels.
The MSCI ACWI PR USD Index rose +0.8% in April, reducing its YTD decline. The recovery was mostly led by non-U.S. markets and a -4.6% decline in the U.S. dollar, which boosted USD based returns from international equities.
Emerging markets posted a modest performance, with the MSCI EM PR USD Index rising +1.3%. Strength was concentrated in markets outside of China. Chinese equities underperformed, as tariffs targeting the country remained in place, highlighting ongoing trade tensions with the U.S.
- MSCI EAFE Index Futures (MFSA) YTD ADV of 60k lots, representing $7.7 billion in notional daily volume; OI exceeding 465k lots or $60 billion in notional value.
- MSCI Emerging Markets Index Futures (MESA) YTD ADV of 156k lots, representing $9 billion in notional daily volume; OI exceeding 1.06 million lots or $62 billion in notional value.
- MSCI ACWI NTR Index Future (WMWA) OI exceeding 49k lots or $4.6 billion in notional value.
More about ICE MSCI Complex
Notable updates
ICE Sustainable Equity Futures
Persistent interest for Climate Aligned Contracts continued in April. Leading that trend was the MSCI Climate Paris Aligned Futures complex, which reached an OI of 30,000 lots, up +122% YoY.
Across the complex, total OI reached 53,600 lots, representing a notional value of $3.3 billion notional value.
Top 5 Sustainable Contracts by Notional OI April 25
| Contract Name (Ticker) | Notional OI $m |
|---|---|
| MSCI EM Climate PAI (MVYA) | $850 |
| MSCI World Climate Change (WOWA) | $720 |
| MSCI World Climate PAI (MRPA) | $561 |
| MSCI Europe Climate PAI (MTEA) | $475 |
| MSCI World Selection (LFWA) | $464 |
Micro NYSE FANG+ Index Futures
The NYSE FANG+™ Index rebounded sharply in April, gaining +7.2% after a challenging March. The rally was driven by strong earnings from key constituents and a broad rotation back into technology and growth stocks after the U.S. softened its trade tariff stance mid-month.
Micro NYSE FANG+ Futures: YTD ADV of 3,000 lots, representing $210 million in notional daily volume; OI at 11,383 lots or $775 million in notional value.
For more details: FANG Futures
Single Stock Derivatives
- U.K. Single Stock Equity Options: YTD ADV of 38.8k lots with month end OI of 2.13m lots
- Canadian Single Stock Futures: YTD ADV at 68k Lots, up 21% YoY
UK Single Stock Equity Options YTD Volumes
| Contract | YTD Volume (lots) | Month End Open Interest (Lots) |
|---|---|---|
| Lloyds Banking Group plc - TSB | 653,051 | 278,999 |
| Vodafone Group plc - VOD | 501,016 | 432,707 |
| BP Plc - BP | 394,246 | 310,595 |
| Glencore plc - GL | 390,127 | 327,417 |
| Barclays plc - BBL | 280,376 | 216,532 |
Notable updates
- Introduction of additional Single Stock Equity Options and Single Stock Futures
More about Single Stock Futures & Options