CME Group said it will launch four new E-mini equity index futures contracts on June 29, pending regulatory review.
The contracts will track the Morningstar U.S. Total Market Index, Russell 3000 Index, S&P Composite 1500 Index and S&P Total Market Index. CME said the products cover more than 90% of U.S. investable market capitalisation, giving participants new listed tools to hedge broad U.S. equity exposure across all-cap benchmarks.
The launch spans index families from Morningstar, FTSE Russell, and S&P Dow Jones Indices.
“These new E-mini futures contracts expand our benchmark equity index ecosystem to meet growing client demand for unified, all-cap risk management tools,” said Joe Hickey, Global Head of Equity Products at CME Group.
The Morningstar contract kicks off a multi-year index derivatives licensing deal between CME and Morningstar Indexes. The underlying benchmark, currently called the CRSP US Total Market Index, will be renamed the Morningstar US Total Market Index on July 28, according to CME’s product page.
Morningstar Indexes President Amelia Furr said the index underpins about $2 trillion in assets, including the world’s largest mutual fund.
The products will be listed on and subject to the rules of CME.
