Types of ASX Index Futures

The ASX Index Futures offer sector and broad indices all of which are based on Standard and Poor’s indices. These products have several benefits for both retail and institutional investors including speculation, hedging and equitising cash.

ASX SPI 200™ Index Futures

ASX SPI 200 Index Futures (also known as SPI Futures) is the benchmark derivative product for investors trading and hedging in the Australian equity index market. SPI Futures enable investors to trade movements in the S&P/ASX 200 Index in a single transaction, allowing exposure to Australia’s top 200 companies without having to buy or sell shares in every company in the index. SPI Futures are approved for trading by the US Commodities Futures Trading Commission (CFTC) and the UK Financial Services Authority (FSA).

Volumes in the SPI Futures contract have grown significantly in recent years.

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ASX SPI 200 Futures volume and open interest (2004-2009)

 

S&P/ASX 200 A-REIT Index Futures

S&P/ASX 200 A-REIT Index Futures (also known as Mini Property Futures or XPJ Index Futures) began trading in 2002 and are now widely traded by fund managers.

S&P/ASX 200 A-REIT Index Futures provide exposure to this important and growing sector of the Australian sharemarket. These contracts are traded on the ASX Trade platform and margin offsets apply. They are registered, cleared and settled by ASX's wholly owned subsidiary, Australian Clearing House Pty Ltd (ACH). You can use shares as collateral to cover initial margins. Volumes in the contract have grown steadily since inception.

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A-REITS Futures Volumes

S&P/ASX 200 Index Futures

S&P/ASX 200 Index Futures (also known as Mini 200 Futures or XJO Index Futures) have a $10 contract size. Like its index option equivalent, the S&P/ASX 200 Index Futures is based on a March, June, September, December cycle going six quarter months ahead with two serial contracts up to two non-financial quarter months ahead.

They are traded on the ASX Trade platform and margin offsets apply. They are registered, cleared and settled by ASX's wholly owned subsidiary, Australian Clearing House Pty Ltd (ACH). You can use shares as collateral to cover initial margins.

The settlement amount is based on the opening prices of the stocks in the underlying index on the morning of expiry. As the stocks in the relevant index open, the first traded price of each stock is recorded. Once all stocks in the index have opened, an index calculation, known as the Opening Price Index Calculation (OPIC), is made using these prices.

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S&P/ASX 50 Index Futures

S&P/ASX 50 Index Futures (also known as Mini 50 Futures or  XFL Index Futures) are based on the S&P/ASX 50 Index and have a $10 contract size. S&P/ASX 50 Index Futures have contract months listed in March, June, September and December up to four quarter month ahead.

S&P/ASX 50 Index Futures are traded on the ASX Trade platform and margin offsets apply. They are registered, cleared and settled by ASX's wholly owned subsidiary, Australian Clearing House Pty Ltd (ACH). You can use shares as collateral to cover initial margins.

The settlement amount is based on the opening prices of the stocks in the underlying index on the morning of expiry. As the stocks in the relevant index open, the first traded price of each stock is recorded. Once all stocks in the index have opened, an index calculation, known as the Opening Price Index Calculation (OPIC), is made using these prices.

Find out more about the S&P/ASX 50 Index