Interest Rate Derivatives

Fixed Income Futures

Your Gateway to European Bond Markets

Eurex Fixed Income Futures offer a versatile toolset for managing your portfolio, providing numerous advantages beyond traditional bond trading. Whether used for tactical asset allocation, cash equitization, duration adjustment or relative value trading, we have you covered!

Manage or hedge your interest rate risk with Eurex's diverse range of highly liquid, cost-effective and standardized futures. Fixed Income Futures cover the biggest European sovereign issuers and are used as pricing reference for all European debt covering multiple credit points on the euro yield curve.

  • German Government Bonds: Futures on German government bonds, including Euro-Bund, Euro-Bobl, Euro-Schatz, and Euro-Buxl®.
  • Other European Government Bonds: Futures on Italian (BTP), French (OAT), and Spanish (BONO) government bonds.
  • Coming Soon: Euro-EU Bond Futures (launching on 10 Sep 2025)

Mark your calendars for the launch of Euro-EU Bond Futures, a significant step towards a deeper and more integrated European capital market. These new futures contracts will provide enhanced opportunities for trading and hedging of EU debt and further complete the home of the euro yield curve. Contact us to learn more!
 

Launching Euro-EU Bond Futures on 10 September

The deliverable EU Bond Futures is another milestone for a liquid EU bond market and a stronger European capital market.

Enhanced cross margining

Benefit from high margin efficiencies and take advantage of our deep Euro liquidity pools for listed fixed income and OTC interest rate derivatives.

All fixed income futures: traded contracts (ADV) and open interest in millions

Key benefits

  • Gain exposure to the most important European government bond markets soon to include the EU bond market.
  • Access Liquidity across the European yield curve.
  • Spread trading: A liquid alternative to cash bonds for trading the respective yield spread between different European government bonds markets or tenors.
  • Precise hedging tools for interest rates in the Eurozone.
  • Cost efficiencies – all fixed income instruments are part of the same portfolio margining group across futures, options, and swaps, providing the market with superior margin and capital efficiencies.
     

Products

Euro-EU Bond (FBEU)

Eurex’s Euro-EU Bond Futures will support the position of the EU as a debt issuer and are designed to provide traders and fund managers with a liquid, standardized and efficient hedging tool to manage their exposures to EU debt. 

Euro-Schatz (FGBS)

Notional government bond issued by the Federal Republic of Germany with 1.75-2.25 years to maturity and a (notional) 6% coupon

Euro-Bobl (FGBM)

Notional government bond issued by the Federal Republic of Germany with 4.5-5.5 years to maturity and a (notional) 6% coupon

Euro-Bund (FGBL)

Notional government bond issued by the Federal Republic of Germany with 8.5-10.5 years to maturity and a (notional) 6% coupon

Euro-Buxl (FGBX)

Notional government bond issued by the Federal Republic of Germany with 24-35 years to maturity and a (notional) 4% coupon

Long-term Euro-BTP (FBTP)

Notional government bond issued by the Republic of Italy with 8.5-11 years to maturity and a (notional) 6% coupon 

Mid-term Euro-BTP (FBTM)

Notional government bond issued by the Republic of Italy with 4.5-6 years to maturity and a (notional) 6% coupon

Short-term Euro-BTP (FBTS)

Notional government bond issued by the Republic of Italy with 2-3.25 years to maturity and a (notional) 6% coupon

Long-term Euro-OAT (FOAT)

Notional government bond issued by the Republic of France with 8.5-10.5 years to maturity and a (notional) 6% coupon

Mid-term Euro-OAT (FOAM)

Notional government bond issued by the Republic of France with 4.5-5.5 years to maturity and a (notional) 6% coupon 

Euro-BONO (FBON)

Notional government bond issued by the Kingdom of Spain with 8.5-10.5 years to maturity and a (notional) 6% coupon

Swiss (CONF)

Notional government bond issued by the Swiss Confederation with 8-13 years to maturity and a (notional) 6% coupon

Prices

Product Diff. to prev. day last Last price Contracts Time
FGBL -0.05% 131.10 1,699,773 18:46:31
FGBM -0.03% 119.12 1,389,674 18:46:28
FGBS +0.01% 107.340 1,724,679 18:46:25
FGBX -0.23% 121.06 309,597 18:45:52
FBTP +0.06% 121.19 655,115 18:45:12
FBTS -0.01% 108.16 486,141 18:39:56
FOAT -0.06% 125.64 479,684 18:45:57
FOAM +0.04% 116.60 0 17:33:08
FBON +0.08% 125.25 530 17:38:19

Position limits Jun 2025

Eurex Fixed Income Futures Reporting and Position Limits for June 2025 expiry
 

Product ID

FGBX

FGBL

FGBM

FGBS

FBTP

FBTM

FBTS

FOAT

FOAM

FBON

Value

65,000

70,000

80,000

55,000

70,000

60,000

50,000

70,000

60,000

70,000

Effective Dates:

  • Reporting limits will be valid from 30 May 2025 after close of trading until 3 June 2025 after close of trading.
  • Position limits will be valid from 4 June 2025, start of trading, until expiration of the March contract on 6 June 2025.

Contacts

Vassily Pascalis
ETD Trading Liquidity Management

T +44-20-78 62-72 11

vassily.pascalis@eurex.com

Jutta Frey-Hartenberger
Global Product Lead | Government Bond Derivatives

T +49-69-211-1 49 88

jutta.frey-hartenberger@eurex.com

Francesca Dell'Era
Regional Sales Manager | Sales Western & Southern Europe

T +41-434-30-71 23

francesca.dellera@eurex.com

Andreas Stadelmaier
Regional Sales Manager | Sales Central & Eastern Europe

T +49-69-211-1 38 59

andreas.stadelmaier@eurex.com



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