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February saw strong performances across our fixed income derivatives portfolio. Our core markets performed well, with volumes underpinned by stronger than expected realized moves in the underlying markets. Our option classes experienced good volume development as volatility rose across the board, except French OAT's. In futures, the portfolio performed well, with Buxl, short BTP and OAT outperforming, showing volume increases of +49.7%, 26.7% and 19.9%, respectively. In the long end of the curve, Buxl saw a record month with 2,461,687 contracts traded.
Bunds saw volumes increasing by 24.7% within the options segment, and the Bobl saw increased volumes of 77.3%. Weekly options on bunds saw the positive volume trend continuing with an increase of 56.1%. It was a record month for Buxl options, with 89,255 contracts traded. The main driver within the option's segment was increased volatility, with Bund vol spiking to c.6.4%, Buxl reaching 14% and Bobl hitting 2.9%.
ETF options continued their positive momentum with volume increases across the portfolio. The ADV for the month stood at c.60% above the levels of 2020. The 20y Treasury ETF saw options volumes of 344,767 and USD High Yield saw volumes of 3,106.
Lee Bartholomew, Head of Fixed Income Product R&D, Eurex
