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Explore European volatility with VSTOXX® Futures and Options, designed to reflect market uncertainty and investor sentiment.
These instruments measure the 30 day implied volatility of the EURO STOXX 50®, providing a precise and cost-effective way to access European volatility.
VSTOXX derivatives are listed on exchange and cleared centrally, ensuring transparent mark-to-market valuation and strong liquidity. They offer a more targeted approach to managing European-specific volatility risk.
Trade the European volatility benchmark!
Traded Contracts and Open Interest
Product Name | VSTOXX® Futures | Options on VSTOXX® Futures |
Underlying | The VSTOXX Index, a market estimate of expected volatility that is calculated every 5 seconds by using real-time EURO STOXX 50® option bid/ask quotes. | VSTOXX Futures |
Contract Value | EUR 100 per volatility index point. | |
Price Quotation & Minimum Price Change | The minimum price change is 0.05 points (equivalent to a value of EUR 5). | The minimum price change is 0.025 points (equivalent to a value of EUR 2.5). |
Contract Months | The next eight successive calendar months. | |
Exercise | - | American style; an option can be exercised until the end of the Post-Trading Full Period (20:30 CET) on any exchange day during the lifetime of the option. |
Exercise Price Intervals | - | All option series have exercise prices with price gradations in the amount of not less than one point. |
Settlement | Cash Settlement, payable on the first exchange day following the final settlement day. | Physical delivery of the underlying. The underlying is maturing on the same exchange day and is settled in cash. |
Daily Settlement Price | Determined during the closing auction of the respective futures contract. | Established by Eurex, determined through a binomial pricing model. |
Last Trading Day & Final Settlement Day | 30 calendar days prior to the third Friday of the expiration month of the underlying options. This is usually the Wednesday prior to the second last Friday of the respective expiration/maturity month. | |
Final Settlement Price | TWAP of the underlying strip on the last trading day between 11:00 to 12:00 CET. | |
Block Trade Size | 1,000 contracts | |
Vendor Codes | Bloomberg: FVSA INDEX Reuters: 0#FVS: | Bloomberg: FVSA INDEX OMON Reuters: 0#FVS2+ |
VSTOXX® is part of Eurex Clearing Prisma
To fully benefit from cross margining efficiencies, take a look at our Eurex Clearing Prisma brochure. For highly accurate what-if scenarios and incremental risk calculations, use our online margin calculators.
Block Liquidity Providers - Options
Firm | Contact | Phone | |
Bank of America | Thomas Eshaghi | +33-1-87-70-13-72 | |
Sebastien Faucheur | +33-1-87-70-00-00 | ||
BNP | Houssam Chreim | +33-1-4014-3347 | |
DRW | King Bhattacharyya | +44-7834825157 | |
Goldman Sachs | Gavin Dolan | +33-1-42121850 | |
HSBC Bank Plc | Alexandre Capez | +44-20-7991-5849 | |
IMC | Sergio Tam Suarez | +31-207988572 | |
Maven | Hailee Wu | +44-20-3794-8510 | |
Morgan Stanley | Gabriel Manceau | +33-1-4290-7754 | |
Optiver | Maikel Verdiesen | +31-207087608 | |
Susquehanna | Rob Switzer | +353-1-517-5545 | |
Daniel Mannion | +353-1-567-7210 | ||
JP Morgan | Feras al Kayid |
Contacts
Matthew Koren T +1-212-309-93 14 | Sophie Granchi T +33-0680347501 | Kris Hopkins T +65-65 97-3061 | Ralf Huesmann T +49-69-211-1 54 43 |