Equity contracts performance
| Product Code | Ticker | May 25' ADV | YTD ADV | Open Interest | |
|---|---|---|---|---|---|
| FTSE | |||||
| FTSE 100 Index Futures | Z | Z A | 59,253 | 93,558 | 379,337 |
| FTSE 100 Index Options | ESX | UKX | 21,565 | 28,052 | 1,156,635 |
| FTSE 250 Index Futures | Y2 | YBYA | 1,342 | 2,589 | 20,613 |
| FTSE 100 Dividend Index Futures | XZ | UKDA | 672 | 1,640 | 122,287 |
| MSCI | |||||
| MSCI Emerging Markets Index Futures | MME | MESA | 105,194 | 146,216 | 1,098,552 |
| MSCI EAFE Index Futures | MFS | MFSA | 38,986 | 55,529 | 491,729 |
| MSCI ACWI Index Futures | MMW | WMWA | 886 | 1,217 | 50,117 |
| MSCI EM ex China Index Futures | MMC | MMLA | 181 | 886 | 31,265 |
| MSCI Brazil Index Futures | MCG | MCBA | 446 | 823 | 28,955 |
Climate & ESG | |||||
| MSCI EM Climate PAI Index Futures | MVU | MVYA | 52 | 282 | 15,609 |
| MSCI World Climate Change Index Futures | WOW | WOWA | - | 250 | 11,455 |
| MSCI Europe Climate PAI Index Futures | MVT | MTEA | 10 | 198 | 7,144 |
| MSCI World Climate PAI Index Futures | MVR | MRPA | 185 | 238 | 7,710 |
| FANG | |||||
| Micro FANG+ Index Futures | FNG | FNSA | 1,441 | 2,735 | 13,088 |
| Single Stock Derivatives | |||||
| Futures | - | - | 95,994 | 73,405 | 412,311 |
| Options | - | - | 41,330 | 42,284 | 3,810,114 |
Products highlights
FTSE Index derivatives
U.K. equities rebounded in May, with both large and mid-cap equities supported by improving global sentiment, easing trade risks and a rate cut by the Bank of England.
The Bank of England’s 25bps rate cut on May 8, reflected concerns about the secondary effects of U.S. tariffs on U.K. exports and the potential impact on financial stability. This move signalled a more accommodative stance amid rising geopolitical uncertainty.
On the geopolitical front, the U.K. government confirmed on May 29 its intention to fast-track a new limited trade deal with the U.S. While the deal keeps key U.S. tariffs on U.K. exports, it provides targeted improvement in market access for specific sectors. Market participants view this deal as a stepping stone toward broader economic alignment.
The FTSE 100 Index rose +3.3% for the month and is now +7.3% YTD, supported by value sector rotation and strong performance in both the energy and financials sectors.
The FTSE 250 Index advanced +5.8% in May, its strongest monthly performance of the year. Investor sentiment towards mid-cap names improved, supported by stabilizing domestic indicators and risk rotation back into U.K. assets.
- FTSE 100 Index futures YTD Average Daily Volume (ADV) of 93.6k lots, representing £8.3 billion in notional daily volume; Open Interest (OI) at 380k lots, totalling £33.4 billion in notional value
- FTSE 100 Index options YTD ADV of 28k lots, representing £2.5 billion in notional daily volume; OI exceeding 1.15 million lots or £101 billion in notional value
- FTSE 250 Index futures YTD ADV of 2.6k lots with end of month OI of £0.8 billion or 20k lots
Notable updates
- FTSE 250 Futures YTD ADV up 65%
- FTSE 100 TRFs YTD ADV up 242%
MSCI Index derivatives
Global equities rallied strongly in May 2025, with the MSCI ACWI PR USD Index rising 5.5%, its best monthly gain since November 2023. The rally was broad-based and driven by a combination of moderating inflation pressures, a resilient Q1 corporate earnings season and signs of progress on global trade. A pause in U.S.–China tariff escalations and new trade deals with the U.K. helped lift risk sentiment, while a modestly lower U.S. dollar further supported international equities.
Emerging markets also participated in the rally, with the MSCI EM PR USD Index up 4.0% for the month. Chinese equities rose 2.1%, supported by targeted fiscal measures and central bank rate cuts aimed at stabilizing domestic demand. Indian equities gained 1.5% notably supported by institutional inflows and robust earnings in the financials and technology sectors.
- MSCI EAFE Index futures (MFSA) YTD ADV of 55k lots, representing $7.2 billion in notional daily volume; OI exceeding 490k lots or $64 billion in notional value
- MSCI Emerging Markets Index futures (MESA) YTD ADV of 146k lots, representing $8.5 billion in notional daily volume; OI exceeding 1.06 million lots or $63 billion in notional value
- MSCI ACWI NTR Index future (WMWA) OI exceeding 50k lots or $4.9 billion in notional value
More about ICE MSCI Complex
Notable updates
- MSCI EM LatAm Index future YTD ADV +181% with OI exceeding 36k up +147%
- MSCI EM Asia Index future YTD ADV +57% with OI exceeding 33k up +45%
- ICE Futures Abu Dhabi Micro MSCI GCC Index futures and Micro MSCI India Index futures have received CFTC Approval as of 9 June
ICE Sustainable Equity futures
Investors interest for Climate-Aligned contracts remained strong in May - across the complex, the total OI exceeds $2 billion, a 120% YoY growth versus May 2024.
Across ICE’s Sustainable Equity Index futures complex, total OI reached 54,730 lots, representing a notional value of $3.6 billion.
Top 5 Sustainable Contracts by Notional OI May 2025
| Contract Name (Ticker) | Notional OI $m |
|---|---|
| MSCI EM Climate PAI (MVYA) | $966 |
| MSCI World Climate Change (WOWA) | $770 |
| MSCI World Climate PAI (MRPA) | $668 |
| MSCI World Selection (LFWA) | $483 |
| MSCI Europe Climate PAI (MTEA) | $441 |
Micro NYSE FANG+ Index futures
The NYSE FANG+™ Index rebounded strongly in May, gaining +11.8%, its best performance since July 2023. Tech stocks regained momentum as a combination of strong earnings across key constituents and easing inflation concerns.
Micro NYSE FANG+ Futures: YTD ADV of 2,700 lots, representing $200 million in notional daily volume; OI at 13,088 lots or $920 million in notional value.
For more details: FANG Futures
Single Stock derivatives
- U.K. Single Stock Equity Options: YTD ADV of 37.5k lots with month end OI of 2.35m 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 | 858,800 | 399,318 |
| Vodafone Group plc - VOD | 563,283 | 486,452 |
| Glencore plc - GL | 554,941 | 329,205 |
| BP Plc - BP | 444,610 | 323,477 |
| Barclays plc - BBL | 297,040 | 221,983 |
Notable updates
- Introduction of additional Single Stock options and Single Stock futures on 19 May 2025
More about Single Stock Futures & Options