Global Credit Index Futures
Credit Index Futures

Innovating the listed European Credit Ecosystem

Electronification and indexed trading through portfolio trades and exchange traded funds (ETFs) have improved price discovery and liquidity in the fragmented credit markets landscape. 

The over-the-counter (OTC) credit derivatives markets, however, remain opaque, operationally challenging and not universally accessible. Eurex can provide value here, as demonstrated in the equity index and government bond markets. Our Credit Index Futures markets are transparent and benefit from a diverse set of liquidity providers, ensuring narrow on-screen prices and off-book trades.

Since 2021, Eurex has offered market participants a unique and valuable set of investment vehicles to hedge and take synthetic long exposure on global credit markets via a suite of listed Credit Index Futures. Market consultations highlighted the need for a diverse product portfolio to express credit views using ETF and index derivatives, Cash bonds (portfolio trades) and OTC.

These standardized, exchange-traded contracts utilize a simple derivative structure widely used in the equity index futures market.

The current product suite includes the EURO Investment Grade, EURO High Yield, USD Emerging Markets and GBP Investment Grade segment. Eurex utilizes the Bloomberg family of fixed income indexes to leverage established benchmarks with which Eurex customers are already familiar.

Key benefits

  • Liquidity and cash management
    When large fund inflows occur, it can be most efficient to take exposure to the benchmark index returns utilizing the available cash via futures. Get unfunded exposure to market returns while you search for the right bonds to buy.
  • Hedging purposes
    For a fund pursuing an active selection of bonds aimed to outperform the market, futures can be used to temporarily reduce portfolio market exposure.
  • Portfolio overlay
    Futures can be used to increase or reduce market exposure in a portfolio relative to its actual funded amount.
  • Clearing
    Credit Index Futures offer the market a standardized, cost-effective and centrally cleared solution.
     

Prices/Quotes

Product Diff. to prev. day last Last price Contracts Time
FECX -0.16% 160.94 0 18:45:51
FEHY -0.05% 284.28 82 18:45:51
FGBC -0.36% 139.86 0 18:45:53
FGGI +0.09% 121.48 0 18:45:53
FUEM -0.41% 110.53 645 18:46:05

Liquidity providers

Liquidity providers On-screen

Company

Member ID

Contact

Flow Traders

NEDAM

Jasper Jansen
Timothy Toh


nlbon@nl.flowtraders.com

Société Générale

SOGFR

Aziz Tikouirt
Arnaud Muller


list.par-mark-fic-trd-rat-etf@socgen.com

Susquehanna

SISDB

Ronan Henderson
Bruce Gunn


SIS-Sales-ETF@sig.com

Liquidity providers Off-book

Company

Member ID

Contact

Flow Traders

NEDAM

Jasper Jansen
Timothy Toh


nlbon@nl.flowtraders.com

Goldman Sachs

GSIEB

Antony Harden


Futures-Voice-EQ-EMEA@gs.com

Jane Street

JSELO

Europe Institutional Sales team


Europesales@janestreet.com

JP Morgan

JPDFR

EMEA Futures & Options Sales Execution
(only LXY Index // FECX)


FO_EMEA_Conti_Desk@jpmorgan.com

Société Générale

SOGFR

Aziz Tikouirt
Arnaud Muller


list.par-mark-fic-trd-rat-etf@socgen.com

Susquehanna

SISDB

Ronan Henderson
Bruce Gunn

SIS-Sales-ETF@sig.com


Contacts

Chris Dopp
Fixed Income Sales America

T +1-312-544-10 11

chris.dopp@eurex.com

Vassily Pascalis
Fixed Income Sales Europe

T +44-20-78 62-72 11

vassily.pascalis@eurex.com

Davide Masi
FIC ETD Product Design

T +44-20-78 62-76 67

davide.masi@eurex.com

Leon von Essen
FIC ETD Product Design

T +49-69-211-1 49 64

leon.von.essen@eurex.com