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Eurex | Eurex Clearing | Eurex Repo
Eurex – Europe’s leading derivatives exchange and, together with Eurex Clearing, one of the world’s leading central counterparties – reported lower trading volumes in November amid a general slowdown in market activity. The exchange handled 146.1 million contracts during the month, an 18 percent drop from the 177.6 million contracts traded a year earlier. Interest rate derivatives were down 16 percent year-on-year to 70.5 million contracts. Equity derivatives declined 11 percent to 28.3 million contracts, while index derivatives decreased 21 percent to 47.0 million contracts.
OTC Clearing recorded robust growth in November, with notional outstanding volumes rising 33 percent year-on-year to EUR 46,573 billion, up from EUR 34,922 billion in November 2024. The increase was led by overnight index swaps, which surged 57 percent to EUR 6,611 billion. Interest rate swaps also contributed significantly, climbing 29 percent to EUR 20,197 billion.
Eurex Repo, Eurex’s leading electronic market for secured funding and financing, delivered another strong result in November 2025. Average term-adjusted volumes increased by 51 percent year-on-year, reaching EUR 525.4 billion. Growth was driven primarily by the GC Pooling segment, which rose 49 percent, while the Repo Market segment also saw a solid expansion of 54 percent. The month’s standout achievement was a new record in daily trading volume on 28 November 2025, coming in roughly 66 percent above the average daily level.
Business overview – November 2025
November 2025 | November | Change | |
Financial derivatives: traded contracts Eurex Exchange | |||
Index derivatives (million) | 47.0 | 59.7 | -21% |
Interest rate derivatives (million) | 70.5 | 83.7 | -16% |
Equity derivatives (million) | 28.3 | 32.0 | -11% |
Total (million)1 | 146.1 | 177.6 | -18% |
OTC Clearing² | |||
Notional outstanding volumes (billion EUR) | 46,573 | 34,922 | +33% |
| 20,197 | 15,618 | +29% |
| 6,611 | 4,209 | +57% |
Average daily cleared volumes (billion EUR) | 242 | 175 | +38% |
| 60 | 22 | +178% |
| 43 | 27 | +58% |
Compression volumes (billion EUR) | 336 | 123 | +172% |
Repo: Average daily term adjusted volume on Eurex Repo | |||
GC Pooling³ (billion EUR) | 290.7 | 195.4 | +49% |
Repo Market (billion EUR) | 234.8 | 152.1 | +54% |
Total (billion EUR) | 525.4 | 347.6 | +51% |
1 The total number of contracts traded includes other asset classes such as commodities.
2 Notional cleared volumes including post trading events such as compression.
3 Includes all currencies.
Media contact:
Irmgard Thiessen
+49 69 211-1 59 11
irmgard.thiessen@deutsche-boerse.com
Fabian Vichtl
+49 69 211-1 65 95
fabian.vichtl@deutsche-boerse.com
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