The CBOT will be the first exchange in the world to offer cash-settled German debt futures, providing the marketplace with a superior product design. Additionally, CBOT Bund, Bobl and Schatz futures market users will have access to a premier trading environment through the CBOT's electronic trading platform, which features the foremost technology and functionality.
CBOT Chairman Charles P. Carey said, "As the world's largest market for U.S. Treasury futures and options, the CBOT welcomes the opportunity to serve its customers by expanding its contract offerings to include German debt futures. After extensive research and conversations with market users, the CBOT has designed German debt contracts that provide better risk management tools, with features including enhanced settlement procedures. What is more, Bund, Bobl and Schatz futures are a natural fit for trading alongside the CBOT?s deep and liquid U.S. Treasury products."
CBOT President and CEO Bernard W. Dan said, "Traders of German debt contracts will now have the opportunity to execute transactions in a fully transparent environment, utilizing the advanced and sophisticated functionality of the CBOT's new electronic trading platform. The CBOT's market model creates the opportunity for all market users to be treated equally and insures the necessary transparency and openness for true price discovery. Additionally, the CBOT market surveillance and other oversight procedures will enable the most efficient and transparent contract expiration procedures."
Regular trading hours for CBOT Bund, Bobl, and Schatz futures will be 8 a.m. to 9:15 p.m. Central European Time (1:00 a.m. to 2:15 p.m. Chicago Time), Monday through Friday.
