Standardized Total Return Swaps

Standardized Total Return Swap (TRS) contracts enable investors to efficiently gain or hedge exposure to the corporate bond and leveraged loan markets. The contracts exist on a selection of global iBoxx indices.

TRS contracts are available for select iBoxx indices including:

  • iBoxx EUR Corporates
  • iBoxx USD Domestic Corporates
  • iBoxx GBP Corporates
  • iBoxx EUR Liquid HY
  • iBoxx USD Liquid HY
  • iBoxx USD Liquid Leveraged Loan Index
  • iBoxx Trepp CMBS Original AAA Rolling Index

Key benefits:

  • Efficiency – Use instruments to express views on the corporate credit market
  • Effective monitoring – Reduce tracking errors or rolls with a built-in rebalancing mechanism
  • Recognized benchmarks – iBoxx indices are widely used, recognized benchmarks for credit investors
  • Independent data – Rely on multi-sourced pricing used for constituents
  • Representative – Leverage replicable indices for each market covered


  • Banks
  • Asset managers
  • Hedge funds


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