A member of
Your Gateway to European Bond Markets
Fixed income futures provide efficient tools for managing interest rate risk and accessing European government bond markets. Supporting a range of trading, hedging and investment strategies, they enable market participants to adjust duration, manage exposures and implement relative value views with flexibility and precision.
Manage interest rate risk and gain access to key European government bond markets through a comprehensive suite of Fixed Income Futures. Covering major sovereign issuers across the euro yield curve, these highly liquid and standardized contracts support efficient hedging, trading and investment strategies.
These futures contracts provide market participants with additional tools to manage exposure to EU debt, further strengthening coverage across the euro yield curve.
What are the trading volume and open interest for European fixed income futures?
European government bond futures are a cornerstone of the European rates market, with more than 890 million contracts traded during the first three quarters of 2026. An average daily volume of approximately 7 million contracts in September highlights the market's scale, depth and efficiency in managing European interest rate exposure.
What are the advantages of trading European fixed income futures?
How are European government bond futures contracts structured?
Eurex’s Euro-EU Bond Futures will support the position of the EU as a debt issuer and are designed to provide traders and fund managers with a liquid, standardized and efficient hedging tool to manage their exposures to EU debt. | |
Notional government bond issued by the Federal Republic of Germany with 1.75-2.25 years to maturity and a (notional) 6% coupon | |
Notional government bond issued by the Federal Republic of Germany with 4.5-5.5 years to maturity and a (notional) 6% coupon | |
Notional government bond issued by the Federal Republic of Germany with 8.5-10.5 years to maturity and a (notional) 6% coupon | |
Notional government bond issued by the Federal Republic of Germany with 24-35 years to maturity and a (notional) 4% coupon | |
Notional government bond issued by the Republic of Italy with 8.5-11 years to maturity and a (notional) 6% coupon | |
Notional government bond issued by the Republic of Italy with 4.5-6 years to maturity and a (notional) 6% coupon | |
Notional government bond issued by the Republic of Italy with 2-3.25 years to maturity and a (notional) 6% coupon | |
Notional government bond issued by the Republic of France with 8.5-10.5 years to maturity and a (notional) 6% coupon | |
Notional government bond issued by the Republic of France with 4.5-5.5 years to maturity and a (notional) 6% coupon | |
Notional government bond issued by the Kingdom of Spain with 8.5-10.5 years to maturity and a (notional) 6% coupon | |
Notional government bond issued by the Swiss Confederation with 8-13 years to maturity and a (notional) 1% coupon |
| Product | Diff. to prev. day last | Last price | Contracts | Time |
|---|---|---|---|---|
| FGBL | +0.21% | 121.19 | 1,227,009 | 22:03:30 |
| FGBM | +0.03% | 112.83 | 938,078 | 21:59:58 |
| FGBS | -0.01% | 105.010 | 1,147,685 | 21:59:56 |
| FGBX | +0.49% | 102.36 | 154,744 | 22:03:30 |
| FBTP | +0.60% | 111.09 | 435,461 | 18:59:57 |
| FBTM | -0.06% | 108.22 | 0 | 17:22:56 |
| FBTS | +0.08% | 104.83 | 284,040 | 18:59:58 |
| FOAT | +0.22% | 109.32 | 396,948 | 22:03:30 |
| FOAM | -0.28% | 108.10 | 0 | 17:22:56 |
| FBON | +0.19% | 115.65 | 12 | 18:17:16 |
| FBEU | +0.18% | 116.16 | 0 | 17:22:56 |
Frequently Asked Questions
Eurex offers a suite of fixed income futures across the largest European issuers:
They are used to assess, compare, and hedge interest rate exposures across Europe. Typical applications are European reference and cross-country value comparison, portfolio beta and duration adjustment, relative value strategies, and precise duration and curve positioning.
Euro-EU Bond Futures are physically deliverable futures contracts based on bonds issued by the European Union, launched by Eurex in September 2025. They are designed to give traders and fund managers a liquid, standardized, and efficient tool to hedge exposures to EU debt, completing the triangle of cash, repo, and derivatives markets.
Euro-EU Bond Futures add basis trading, the opportunity to trade the basis on EU debt instruments and complement the EU bond cash market. They also support Eurozone rates hedging and spread trading against German, French, or Italian debt or versus Euro interest rate swaps.
Each contract is based on a notional government bond issued by the respective sovereign or supranational issuer. German, Italian (Euro-BTP), French (Euro-OAT), Spanish (Euro-Bono), and Euro-EU Bond Futures use a notional 6% coupon, while Euro-Buxl® uses a notional 4% coupon and Swiss Confederation (CONF) futures use a notional 1% coupon.
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.
An instant update of the Market Status requires an enabled up-to date Java™ version within the browser.