CME Group Introduces New Credit Tool with Liquid Leveraged Loan Index Futures

CME Group Expands Credit Ecosystem with New Futures Product

On September 14, 2026, CME Group, a global leader in derivatives trading, made headlines with the introduction of its S&P UBS USD Liquid Leveraged Loan Index futures. This innovative financial instrument is tailored to meet the sophisticated risk management needs of institutional investors, serving as a response to growing demand for tools that extend beyond traditional investment-grade and high-yield markets.

Ted Carey, Executive Director of Rates and OTC Products at CME Group, emphasized the value of this new offering, stating, "Our new SP UBS Liquid Leveraged Loan Index futures give institutions the risk management tools they've been asking for. By offering this product within a single clearing house, clients benefit from unparalleled cross-margining advantages, helping to free up capacity on their balance sheets."

With this launch, CME Group aims to fill a significant gap in the leveraged loan market landscape, enabling institutions to engage more effectively in loan exposure management. Those who participate in this market will discover a capital-efficient way to manage their risk and exposure to leveraged loans. Cameron Drinkwater, Chief Product and Operations Officer at SP Dow Jones Indices, highlighted the monumental nature of this product in a statement: "The launch of SP UBS USD Liquid Leveraged Loan Index Futures marks a significant milestone for the U.S. leveraged loan market. In collaboration with CME Group, we are introducing the first exchange-traded futures contract linked to a transparent and representative leveraged loan benchmark."

The significance of this launch cannot be overstated. The SP UBS Liquid Leveraged Loan Index futures represent the convergence of trusted indices with the liquidity of a futures market, aimed at broadening market participation and fostering deeper engagement with the loan index ecosystem. Since launching its credit futures in June 2024, CME Group has already achieved significant traction, with over 1.5 million contracts trading across its credit products and open interest exceeding $2 billion by September 2026.

The efficiency of these contracts extends to automatic margin offsets against CME Group's broader offerings which include interest rate and equity futures, contributing to a daily efficiency surplus of $95 billion across various asset classes. This level of efficiency and integration appeals to a wide range of financial institutions looking to optimize their trading strategies.

Available for trading on the CME Globex platform and eligible for submission to clearing through CME ClearPort, these futures contracts adhere to the regulations set forth by the Chicago Board of Trade (CBOT). Market participants are encouraged to explore the potential of these new futures by visiting CME Group's credit futures page for more information.

The SP UBS Leveraged Loan Indices are the collaborative effort of SP Dow Jones Indices LLC and UBS AG. Importantly, the SP labels, including SP® and SP 500®, are trademarks owned by Standard & Poor's Financial Services, while the Dow Jones marks are handled by Dow Jones Trademark Holdings. CME Group has licensed these trademarks for use but is not responsible for the advisability of investing in the products associated with these indices. As an entity leading the derivatives space, CME Group continues to empower participants by providing effective tools and data analytics that enable precise risk management and optimal trading opportunities.

In summary, CME Group's launch of the S&P UBS USD Liquid Leveraged Loan Index futures is a pivotal moment in the evolution of the derivatives marketplace, enhancing the existing credit ecosystem and offering new avenues for sophisticated investment strategies. This innovation is set to play a critical role in shaping the future of leveraged loan trading and providing the necessary support for growing market demands.