ASX (ASX:ASX) launched exchange-traded bond and credit index futures in collaboration with Bloomberg Indices, based on the Bloomberg AusBond Composite Index and Bloomberg AusBond Credit Index, according to a Monday statement.
The contracts trade on ASX 24 and are cash settled against the relevant Bloomberg AusBond Index, the exchange operator said. They are meant for institutional investors and market participants seeking exchange-traded exposure to Australian bond and credit markets.
They are designed to support multiple investment and risk management applications, including portfolio hedging, liquidity management, and cash equitization, ASX said.
ASX's shares shed about 1% in recent Monday trade.