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Contract Specifications
Notional short-, medium- or long-term debt instruments issued by the Federal Republic of Germany, the Republic of Italy, the Republic of France, the Kingdom of Spain, the Swiss Confederation, or the European Union with remaining terms and a coupon of:
| Contract | Product ID | Remaining term in years | Coupon in % | Currency |
Euro-Schatz Futures | FGBS | 1.75 to 2.25 | 6 | EUR |
Euro-Bobl Futures | FGBM | 4.5 to 5.5 | 6 | EUR |
Euro-Bund Futures | FGBL | 8.5 to 10.5 | 6 | EUR |
Euro-Buxl® Futures | FGBX | 24.0 to 35.0 | 4 | EUR |
Short-Term Euro-BTP Futures | FBTS | 2.0 to 3.25 | 6 | EUR |
Mid-Term Euro-BTP Futures | FBTM | 4.5 to 6.0 | 6 | EUR |
Long-Term Euro-BTP Futures | FBTP | 8.5 to 11.0 | 6 | EUR |
Mid-Term Euro-OAT Futures | FOAM | 4.5 to 5.5 | 6 | EUR |
Euro-OAT Futures | FOAT | 8.5 to 10.5 | 6 | EUR |
Euro-BONO Futures | FBON | 8.5 to 10.5 | 6 | EUR |
CONF Futures | CONF | 8.0 to 13.0 | 6 | CHF |
Euro-EU Bond Futures | FBEU | 8.0 to 12.0 | 6 | EUR |
Contract values
EUR 100,000 or CHF 100,000.
Settlement
A delivery obligation arising out of a short position may only be fulfilled by the delivery of certain debt securities issued by the Federal Republic of Germany, the Republic of Italy, the Republic of France, the Kingdom of Spain, the Swiss Confederation, or the European Union with a remaining term on the delivery day within the remaining term of the underlying.
Debt securities issued by the Federal Republic of Germany must have an original term of no longer than 11 years (not valid for FGBX).
Debt securities issued by the Republic of Italy must have an original term of no longer than 11 years (FBTS), 16 years (FBTM), and 17 years (FBTP).
Debt securities issued by the Republic of France must have an original term of no longer than 17 years.
Debt securities issued by the the Kingdom of Spain must have an original term of no longer than 15 years.
In the case of callable bonds issued by the Swiss Confederation, the first and the last call dates must be between eight and 13 years.
Debt securities issued by the European Union (from June 2021 on) must have an original term of no longer than 21 years.
Debt securities issued by the Federal Republic of Germany must have a minimum issue amount of EUR 4 billion, such issued by the Republic of France, the Republic of Italy and the Kingdom of Spain must have a minimum issue amount of EUR 5 billion, and such issued by the European Union must have a minimum issue amount of EUR 10 billion.
Debt securities of the Federal Republic of Germany, the Republic of Italy, the Republic of France, the Kingdom of Spain, and the European Union have to possess the abovementioned minimum issuance volume prior to the first calendar day of the previous delivery month expiration cycle. Otherwise, they shall not be deliverable until the delivery day of the current due month.
Debt securities issued by the Swiss Confederation must have a minimum issue amount of CHF 500 million.
Debt securities of the Republic of Italy that are explicitly issued as "BTP Futura", "BTP Valore", "BTP PIU" or as "BTP Green" shall not be deliverable under Short-Term, Mid-Term, and Long-Term Euro-BTP-Futures contracts.
Debt securities of the European Union that are explicitly issued as "NGEU Green Bonds" shall not be deliverable under Euro-EU Bond Futures contracts.
Price quotation and minimum price change
The price quotation is in percent of the par value.
| Contract | Minimum price change | |
| Percent | Value | |
Euro-Schatz Futures | 0.005 | EUR 5 |
Euro-Bobl Futures | 0.01 | EUR 10 |
Euro-Bund Futures | 0.01 | EUR 10 |
Euro-Buxl® Futures | 0.02 | EUR 20 |
Short-Term Euro-BTP Futures | 0.005 | EUR 5 |
Mid-Term Euro-BTP Futures | 0.01 | EUR 10 |
Long-Term Euro-BTP Futures | 0.01 | EUR 10 |
Mid-Term Euro-OAT Futures | 0.01 | EUR 10 |
Euro-OAT Futures | 0.01 | EUR 10 |
Euro-BONO Futures | 0.01 | EUR 10 |
CONF Futures | 0.01 | CHF 10 |
Euro-EU Bond Futures | 0.01 | EUR 10 |
Contract months
Up to 9 months:The three nearest quarterly months of the March, June, September and December cycle.
Delivery day
The tenth calendar day of the respective quarterly month, if this day is an exchange day; otherwise, the exchange day immediately succeeding that day.
Notification
Clearing members with open short positions must notify Eurex on the last trading day of the maturing futures which debt instrument they will deliver. Such notification must be given by the end of the Post-Trading Full Period.
Last trading day
Two exchange days prior to the delivery day of the relevant maturity month. Close of trading in the maturing futures on the last trading day is at 12:30 CET.
Daily settlement price
The daily settlement prices for the current maturity month of CONF Futures are determined during the closing auction of the respective futures contract.
For all other fixed income futures, the daily settlement price for the current maturity month is derived from the volume-weighted average of the prices of all transactions during the minute before 17:15 CET (reference point), provided that more than five trades transacted within this period.
For the remaining maturity months the daily settlement price for a contract is determined based on the average bid/ask spread of the combination order book
Final settlement price
The final settlement price is established by Eurex on the final settlement day at 12:30 CET based on the volume-weighted average price of all trades during the final minute of trading provided that more than ten trades occurred during this minute; otherwise the volume-weighted average price of the last ten trades of the day, provided that these are not older than 30 minutes. If such a price cannot be determined, or does not reasonably reflect the prevailing market conditions, Eurex will establish the final settlement price.
Block Trades
Admitted to the Eurex Block Trade Service with a Minimum Block Trade Size of 3,000 contracts.
Market-Making Parameter
All quotation parameters at a glance
Mistrade Parameter
This file provides an overview of mistrade ranges for Options and Futures including information on their behavior close to expiration and in stressed markets.
Crossing Parameters
(section 2.6 Eurex Trading Conditions)
(1) Orders and Quotes relating to the same Instrument or Combined Instrument may, in case they could immediately be executed against each other, neither be entered knowingly by an Exchange Trader or several Exchange Traders of an Admitted Company (a “Cross Trade”) nor pursuant to a prior understanding between Exchange Traders of two different admitted companies (a “Pre-Arranged Trade”), unless the conditions according to Paragraph 2 have been fulfilled. The same shall apply for the entry of Orders as part of a Quote.
(2) A Cross Trade or a Pre-Arranged Trade is admissible if a participant in a Cross Trade or a Pre-Arranged Trade Eurex Trading System, announces his intention to execute a corresponding number of Contracts as Cross Trades or Pre-Arranged Trades in the Order Book (“Trade Request”). The buying participant has to ensure that he himself or the selling participant enters the Trade Request. The Order or Quote giving rise to the Cross Trade or Pre-Arranged Trade must be entered one second at the earliest and 121 seconds at the latest after the entry of the Trade Request. Entering a Trade Request without entering the respective Order or Quote is not admissible.
(3) Paragraphs 1 and 2 shall not apply to Transactions consummated during the netting process in an auction (Number 1.4 Paragraphs 2 and Paragraph 3).
(4) The automated entry functionality for Cross Trades or Pre-Arranged Trades of the Eurex Trading System may be used for entering Cross Trades or Pre-Arranged Trades. In this case, announcement and entry of the corresponding Orders pursuant to Paragraph 2 will be automated.
Eurex is closed for trading and clearing (exercise, settlement and cash) in all derivatives
Last trading day for options on fixed income futures (weekly expiration)
Eurex is closed for trading and clearing (exercise and settlement) in Swiss fixed income derivatives
No cash payment in CHF
Last trading day for options on fixed income futures (weekly expiration)
Last trading day for options on fixed income futures (weekly expiration)
Last trading day for options on fixed income futures (standard expiration)
Last trading day for options on fixed income futures (weekly expiration)
Last trading day for options on fixed income futures (weekly expiration)
Last trading day for options on fixed income futures (weekly expiration)
Last trading day for options on fixed income futures (standard expiration)
Last trading day for options on fixed income futures (weekly expiration)
Last Trading Day for fixed income futures
Last trading day for options on fixed income futures (weekly expiration)
Delivery Day for fixed income futures
Last trading day for options on fixed income futures (weekly expiration)
Last trading day for options on fixed income futures (weekly expiration)
Last trading day for options on fixed income futures (standard expiration)
Last trading day for options on fixed income futures (weekly expiration)
Eurex is closed for trading and clearing (exercise, settlement and cash) in all derivatives
Eurex is closed for trading and clearing (exercise, settlement and cash) in all derivatives
Last trading day for options on fixed income futures (weekly expiration)
Last trading day for options on fixed income futures (weekly expiration)
Last trading day for options on fixed income futures (standard expiration)
Eurex is closed for trading and clearing (exercise, settlement and cash) in all derivatives
Last trading day for options on fixed income futures (weekly expiration)
Last trading day for options on fixed income futures (weekly expiration)
Eurex is closed for trading and clearing (exercise and settlement) in Swiss fixed income derivatives
No cash payment in CHF
Last trading day for options on fixed income futures (weekly expiration)
Last trading day for options on fixed income futures (standard expiration)
No cash payment in CHF
Eurex is closed for trading and clearing (exercise and settlement) in Swiss fixed income derivatives
Last trading day for options on fixed income futures (weekly expiration)
Last trading day for options on fixed income futures (weekly expiration)
Last Trading Day for fixed income futures
Delivery Day for fixed income futures
Last trading day for options on fixed income futures (weekly expiration)
Last trading day for options on fixed income futures (weekly expiration)
Last trading day for options on fixed income futures (standard expiration)
Last trading day for options on fixed income futures (weekly expiration)
Last trading day for options on fixed income futures (weekly expiration)
Last trading day for options on fixed income futures (weekly expiration)
Last trading day for options on fixed income futures (standard expiration)
Last trading day for options on fixed income futures (weekly expiration)
Last trading day for options on fixed income futures (weekly expiration)
Last trading day for options on fixed income futures (weekly expiration)
Last trading day for options on fixed income futures (weekly expiration)
Last trading day for options on fixed income futures (weekly expiration)
Last Trading Day for fixed income futures
Delivery Day for fixed income futures
Last trading day for options on fixed income futures (weekly expiration)
Last trading day for options on fixed income futures (weekly expiration)
Last trading day for options on fixed income futures (standard expiration)
Last trading day for options on fixed income futures (weekly expiration)
Last trading day for options on fixed income futures (weekly expiration)
Last trading day for options on fixed income futures (weekly expiration)
Last trading day for options on fixed income futures (standard expiration)
Last trading day for options on fixed income futures (weekly expiration)
Last trading day for options on fixed income futures (weekly expiration)
Last trading day for options on fixed income futures (weekly expiration)
Last trading day for options on fixed income futures (standard expiration)
Last trading day for options on fixed income futures (weekly expiration)
Last trading day for options on fixed income futures (weekly expiration)
Last Trading Day for fixed income futures
Delivery Day for fixed income futures
Last trading day for options on fixed income futures (weekly expiration)
Last trading day for options on fixed income futures (standard expiration)
Eurex is closed for trading in all derivatives
Eurex is closed for trading and clearing (exercise, settlement and cash) in all derivatives
Eurex is closed for trading in all derivatives
| Fee Type | Fee |
|---|---|
| Exchange transactions: Standard fees (A-accounts) | EUR 0.27 per contract |
| Exchange transactions: Standard fees (M- and P-accounts) | EUR 0.20 per contract |
| TES transactions / Eurex EnLight: Standard fees (A-accounts) | EUR 0.37 per contract |
| TES transactions / Eurex EnLight: Standard fees (M- and P-accounts) | EUR 0.30 per contract |
| Position Closing Adjustments (A-accounts) | EUR 0.54 per contract |
| Position Closing Adjustments (M- and P-accounts) | EUR 0.40 per contract |
| Determination of the bonds to be delivered A-accounts (notification) | EUR 0.27 per contract |
| Determination of the bonds to be delivered M- and P-accounts (notification) | EUR 0.20 per contract |
| Allocation of the bonds to be delivered (A-accounts) | EUR 0.27 per contract |
| Allocation of the bonds to be delivered (M- and P-accounts) | EUR 0.20 per contract |
| Position transfer with cash transfer | EUR 7.50 per transaction |
Market Status ⓘ
XEUR
The market status window is an indication regarding the current technical availability of the trading system. It indicates whether news board messages regarding current technical issues of the trading system have been published or will be published shortly.
Please find further information about incident handling in the Emergency Playbook published on the Eurex webpage under Support --> Emergencies and safeguards. Detailed information about incident communication, market re-opening procedures and best practices for order and trade reconciliation can be found in the chapters 4.2, 4.3 and 4.5, respectively. Concrete information for the respective incident will be published during the incident via newsboard message.
We strongly recommend not to take any decisions based on the indications in the market status window but to always check the production news board for comprehensive information on an incident.
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