Eurex to Launch Euro-EU Bond Futures in September 2025

Eurex has announced the upcoming launch of Euro-EU Bond Futures (FBEU), a new physically deliverable futures contract based on bonds issued by the European Union. Trading is scheduled to begin on 10 September 2025, expanding Eurex’s fixed income product suite and deepening liquidity in the EU bond market.

The new FBEU contracts are designed to support market participants in managing exposure to EU-issued debt, which now exceeds EUR 600 billion in outstanding volume, making the EU the fifth largest issuer in Europe. With this launch, Eurex aims to provide a complete ecosystem across cash, repo, and derivatives markets for EU bonds, enhancing transparency and aligning with international fixed income standards.

EU is the fifth largest issuer in Europe

Matthias Graulich, Global Head of Products & Markets at Eurex, commented, “The launch of the Euro-EU Bond Futures is more than just a new product for Eurex. It is a strategic commitment to supporting European ambitions for greater autonomy at a time when the continent is relying on additional debt issuance and investors are seeking tailored tools to manage their exposure to EU debt. This step complements and re-affirms Eurex’s Home of the Euro Yield Curve strategy.”

Each FBEU contract will have a standard 6% coupon, consistent with Eurex’s existing 10-year Bund, OAT, BTP, and Bono futures. Deliverable securities will be EU bonds with maturities of 8 to 12 years, reflecting the typical issuance profile of the European Union. These futures will be included in Eurex’s existing portfolio margining framework, providing capital efficiency and enhanced risk management for users trading across the full range of European interest rate products.

The development of FBEU followed extensive consultation with market participants and the European Commission. In a further sign of support for market development, the EU Commission joined Eurex Repo as a trading member in 2024, underscoring its engagement with secondary market infrastructure.

Eurex, a subsidiary of Deutsche Börse Group, continues to position itself as a central venue for European yield curve trading. The launch of Euro-EU Bond Futures is expected to attract a broad set of institutional participants and improve price discovery and hedging capabilities in the evolving EU sovereign debt market.