Eurex to Launch EU Bonds Futures

Eurex, the leading European derivatives exchange and part of Deutsche Börse Group, announces the launch of futures contracts based on bonds issued by the European Union (EU). 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. Trading will start on 10 September 2025.

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.

Supporting European ambitions for greater autonomy

Matthias Graulich, Global Head of Products & Markets at Eurex: “The launch of the Euro-EU Bond Futures is more than just a new product for Eurex. It is a strategic commitment to supporting European ambitions for greater autonomy at a time when the continent is relying on additional debt issuance and investors are seeking tailored tools to manage their exposure to EU debt. This step complements and re-affirms Eurex’s Home of the Euro Yield Curve strategy.”

Source: Eurex