CME Group Expands Credit Ecosystem with Launch of Liquid Leveraged Loan Index Futures

New leveraged loan index futures extend CME credit products and offer margin offsets alongside existing rate and equity futures.

Rhea-AI Summary

CME Group (CME) has launched S&P UBS USD Liquid Leveraged Loan Index futures, which began trading on 14 September 2026.

The contracts track the S&P UBS leveraged loan benchmark and are designed to offer institutions a centrally cleared, capital‑efficient tool for managing leveraged loan exposure and relative value trades. CME Group credit futures, launched in June 2024, have seen over 1.5 million contracts traded, with open interest exceeding $2 billion in September 2026. The contracts are available on CME Globex, eligible for clearing via CME ClearPort, and can receive automatic margin offsets against CME interest rate and equity futures.

Positive

• Over 1.5 million CME Group credit futures contracts traded since June 2024
• Credit futures open interest exceeds $2 billion in September 2026
• Automatic margin offsets contribute to $95 billion in daily client efficiencies across asset classes

Negative

• None.

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• New contracts tracking S&P UBS index offer a centrally cleared, capital-efficient tool for relative value trading

CHICAGO, Sept. 15, 2026 /PRNewswire/ -- CME Group, the world's leading derivatives marketplace, today announced that its S&P UBS USD Liquid Leveraged Loan Index futures began trading on September 14.

"Our new S&P UBS Liquid Leveraged Loan Index futures give institutions the risk management tools they've been asking for - beyond investment grade and high-yield markets," said Ted Carey, Executive Director of Rates and OTC Products at CME Group. "By offering this new product within a single clearing house, we can provide clients with unparalleled cross-margining benefits and free up more capacity on their balance sheets."

"The launch of S&P UBS USD Liquid Leveraged Loan Index Futures marks a significant milestone for the U.S. leveraged loan market. In collaboration with CME Group, the first exchange-traded futures contract linked to a transparent and representative leveraged loan benchmark is being brought to market, providing investors with a new, capital-efficient way to manage loan exposures. This first-of-its-kind exchange-traded futures contract demonstrates the power of combining trusted benchmarks with liquid, capital-efficient market tools to deepen market participation and further expand the tradable loan index ecosystem," said Cameron Drinkwater, Chief Product and Operations Officer, S&P Dow Jones Indices.   

CME Group credit futures launched in June 2024, enabling investors to navigate exposure to one of the world's largest and most liquid fixed income markets. Since then, over 1.5 million contracts have traded across the complex, with open interest exceeding $2 billion in September 2026.

The contracts can provide automatic margin offsets against CME Group's interest rate and equity futures, which are part of the $95 billion in daily efficiencies that the company delivers to clients across asset classes.

Available to trade on CME Globex and eligible for submission to clearing via CME ClearPort, CME Group credit futures are listed on, and subject to, the rules of CBOT.

For more information on CME Group credit futures, please visit cmegroup.com/credit

The S&P UBS Leveraged Loan Indices are a product of S&P Dow Jones Indices LLC ("S&P DJI") and UBS AG ("UBS"). "S&P®", "S&P 500®", "SPY®", "SPX®", US 500™ and The 500® are trademarks of Standard & Poor's Financial Services LLC; Dow Jones®; DJIA® and Dow Jones Industrial Average are trademarks of Dow Jones Trademark Holdings LLC. "UBS" is a trademark of UBS. These trademarks have been licensed for use by Chicago Mercantile Exchange Inc. Futures contracts based on the S&P UBS Leveraged Loan Index are not sponsored or endorsed by S&P DJI, and S&P DJI and UBS make no representation regarding the advisability of investing in such products nor do they have any liability for any errors, omissions, or interruptions of these indices. 

As the world's leading derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, cryptocurrencies, energy, agricultural products and metals.  The company offers futures and options on futures trading through the CME Globex platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform.  In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing. 

CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and E-mini are trademarks of Chicago Mercantile Exchange Inc.  CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc.  NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc.  COMEX is a trademark of Commodity Exchange, Inc. BrokerTec is a trademark of BrokerTec Americas LLC and EBS is a trademark of EBS Group LTD. The S&P 500 Index is a product of S&P Dow Jones Indices LLC ("S&P DJI"). "S&P®", "S&P 500®", "SPY®", "SPX®", US 500 and The 500 are trademarks of Standard & Poor's Financial Services LLC; Dow Jones®, DJIA® and Dow Jones Industrial Average are service and/or trademarks of Dow Jones Trademark Holdings LLC. These trademarks have been licensed for use by Chicago Mercantile Exchange Inc. Futures contracts based on the S&P 500 Index are not sponsored, endorsed, marketed, or promoted by S&P DJI, and S&P DJI makes no representation regarding the advisability of investing in such products. All other trademarks are the property of their respective owners. 

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SOURCE CME Group

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What index do the new CME Group leveraged loan futures track?

The new futures track the S&P UBS USD Liquid Leveraged Loan Index, which CME Group describes as a transparent and representative leveraged loan benchmark.

When did the S&P UBS USD Liquid Leveraged Loan Index futures start trading?

The S&P UBS USD Liquid Leveraged Loan Index futures began trading on 14 September 2026.

On which platforms can the new leveraged loan index futures be traded and cleared?

The contracts are available to trade on CME Globex and are eligible for submission to clearing via CME ClearPort.

Under which exchange rules are CME Group credit futures listed?

CME Group credit futures, including the new leveraged loan index contracts, are listed on and subject to the rules of CBOT.

Do S&P Dow Jones Indices and UBS sponsor or endorse the leveraged loan index futures?

Futures based on the S&P UBS Leveraged Loan Index are not sponsored or endorsed by S&P Dow Jones Indices or UBS, and they make no representation regarding the advisability of investing in such products.