Equity Derivatives/MSCI Index futures & options | ICE/MSCI Total Return Futures

ICE MSCI Total Return Futures (TRFs)

Trade efficiently with enhanced transparency

ICE’s MSCI TRFs offer a listed alternative to OTC total return swaps, providing streamlined access to MSCI’s flagship indices. These contracts combine synthetic equity exposure with SOFR-based funding, delivering capital efficiency, transparency and reduced counterparty risk.

Equity Derivatives

MSCI Index derivatives

FTSE Index derivatives

FTSE 100 Index Total Return futures

ICE MSCI Sustainability Index derivatives

NYSE Fang+ Index

Single Stock derivatives

NYSE Asia Tech 30 Index

ICE Thematic Equity Index futures

ICE’s MSCI TRFs, covering the MSCI ACWI, EAFE, EM, USA and World indices, are exchange-listed instruments designed to replicate the performance of MSCI’s flagship benchmarks, while incorporating the cost of funding via SOFR. These contracts offer a transparent, capital-efficient alternative to OTC total return swaps; enabling investors to gain synthetic equity exposure with reduced counterparty risk.

MSCI TRF Calculator

The ICE MSCI TRF Calculator enables users to compute Total Return Futures prices across maturities and listings. By inputting basis and index reference levels, users can instantly generate pricing across the full MSCI TRF suite—streamlining pre-trade analysis and enhancing execution precision.

Use the MSCI TRF calculator to compute MSCI Total Return futures prices

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Accrued Funding

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Total return futures price

The calculations generated by the ICE MSCI TRF Calculator (“Calculator”) are based on information obtained from sources believed to be reliable, but such calculations and information are not guaranteed by ICE or its subsidiaries, as to accuracy or completeness, nor any trading results, and the Calculator is intended for purposes of information and education only. Such calculations and information are not investment advice. All calculations are hypothetical, based upon various assumptions, and are, therefore, subject to material variation. ICE and its subsidiaries assume no responsibility for any errors or omissions. Anyone using this calculator accepts and agrees that any errors or omissions shall not be made the basis for any claim, demand or cause of action.

Futures trading is not suitable for all investors and involves the risk of loss. Futures are a leveraged investment, and because only a percentage of a contract’s value is required to trade, it is possible to lose more than the amount of money deposited for a futures position. Therefore, traders should only use funds that they can afford to lose without affecting their lifestyles. And only a portion of those funds should be devoted to any one trade because they cannot expect to profit on every trade.