Eurex, the European derivatives exchange and part of Deutsche Börse Group, launched futures contracts based on bonds issued by the European Union (EU) on 10 September 2025.

With the launch of Euro-EU Bond Futures (FBEU), Eurex is expanding its comprehensive product portfolio in European fixed income derivatives. This underlines Deutsche Börse Group’s commitment to supporting the development of European capital markets as a key strategic pillar of the European agenda.

Matthias Graulich, Member of the Executive Board of Eurex, said in a statement: “The launch of Eurex EU-Bond Futures  marks a significant milestone for the European capital markets. We’ve seen overwhelming interest from a broad spectrum of investors, including real money accounts, hedge funds, and the sell-side, all eager to utilize this new instrument. This strong demand underscores the market’s need for efficient tools to manage exposure to EU debt and further strengthens the EU’s position as a prominent issuer.”

Backed by the triple A rating of the EU, the futures are a tailor-made product to hedge EU exposure, while following the standard of existing Eurex fixed income futures, adding value without impacting existing liquidity pools

They complement with existing European government bond futures like Bund, OAT or BTP and unlock new spread-trading strategies using the Eurex TES (Trade entry services) such as block trading and basis trading against the EU bond, but also EGB and swap market, being an important element of international capital markets.

Strengthen liquidity in EU bonds 

A physically deliverable futures contract will strengthen the liquidity in EU bond markets and support the position of the EU as a major issuer in the European and global capital markets. Completing the ecosystem across cash, repo, and derivatives markets in line with international fixed income standards will provide market participants with tailor-made risk management and trading opportunities.

The launch follows an extensive dialogue with market participants and the EU Commission. The outstanding amount of EU debt already exceeds EUR 600 billion, making the EU the fifth largest issuer in Europe. Secondary market trading is on par with some of the largest sovereign issuers. To actively support the development of a liquid ecosystem for EU bonds, the EU Commission has already joined Eurex Repo as a trading member in 2024.

The new Eurex Euro-EU Bond Futures contracts will have the same 6% coupon as Eurex’s fixed income futures in the same tenor (10-year Bund, OAT, BTP and Bono futures). The deliverable bonds can have maturities ranging from 8 to12 years, reflecting the issuance activity of the EU. The Euro-EU Bond Futures are part of the same portfolio margining group as Eurex’s other long and short-term European interest rate derivatives across futures, options, and swaps, providing the market with superior margin and capital efficiencies and strong risk management.

Source: Eurex