Successful Launch Of The Euro Buxl Future - Rising Open Interest And Participant Activity - Over 50,000 Contracts Traded In The First Week

Just over a week after the launch of the Euro-Buxl Future (FGBX) on 9 September, Eurex, the international derivatives exchange, has identified positive initial results. On 16 September, after only six trading days, open interest exceeded 13,000 contracts for the first time. Open interest, or the number of open positions, is a key indicator for end customer business and for future growth of a derivatives contract. More than 50,000 contracts were traded on Eurex in just 6 trading days.

With the new Euro Buxl Future, Eurex meets the increasing market demand for long duration derivatives, particularly in light of regular large ultra long issuance from institutions such as the German Finance Agency and other European Finance Agencies. The Euro-Buxl Future has replaced the former Buxl Future and is a liquid and cost-effective hedging instrument.

The contract specifications for the new Euro Buxl Futures have been set to better meet the increased hedging requirements of market participants at the very long end of the yield curve. The delivery window will be 24-35 years, from previously 20-30.5 years. The notional coupon of the Euro Buxl Future is four percent, from previously six percent. The minimum issue size for bonds included in the new Euro Buxl Future basket is 10 billion euros, from previously 5 billion euros. The tick size is set at 0.02 percent (20 euros per tick).