ICE Launches Long European Union Bond Index Futures
Intercontinental Exchange (NYSE:ICE) has launched Long European Union (EU) Bond Index futures, with the first trades already executed. The cash-settled futures contract references the ICE 8-13 Year European Union Index (G0EU8T13), tracking long-term EU debt performance.
The Index, produced by ICE Data Indices, includes securities with remaining maturity between 8 and 13 years. This innovative product aims to provide efficient exposure management to EU sovereign bonds and is designed to attract a larger pool of liquidity through its equity-style, index-based, cash-settled structure.
The contract trades alongside ICE's European interest rate markets, including Euribor, 鈧琒TR, SONIA, and SARON benchmarks. ICE's interest rate derivatives complex has seen over 20% year-over-year growth in open interest.
Intercontinental Exchange (NYSE:ICE) ha lanciato i futures sul Long European Union (EU) Bond Index, con i primi scambi gi脿 effettuati. Il contratto futures, con regolamento in contante, fa riferimento all'ICE 8-13 Year European Union Index (G0EU8T13), tracciando la performance del debito a lungo termine dell'UE.
L'Indice, prodotto da ICE Data Indices, include titoli con una scadenza residua compresa tra 8 e 13 anni. Questo prodotto innovativo mira a fornire una gestione efficiente dell'esposizione ai bond sovrani dell'UE ed 猫 progettato per attrarre un maggior afflusso di liquidit脿 grazie alla sua struttura in stile azionario, basata su indici e con regolamento in contante.
Il contratto viene scambiato insieme ai mercati dei tassi d'interesse europei di ICE, inclusi Euribor, 鈧琒TR, SONIA e i benchmark SARON. Il complesso dei derivati sui tassi d'interesse di ICE ha registrato una crescita di oltre il 20% anno dopo anno nell'apertura degli interessi.
Intercontinental Exchange (NYSE:ICE) ha lanzado futuros sobre el Long European Union (EU) Bond Index, con las primeras operaciones ya ejecutadas. El contrato de futuros, liquidado en efectivo, hace referencia al ICE 8-13 Year European Union Index (G0EU8T13), que sigue el rendimiento de la deuda a largo plazo de la UE.
El 脥ndice, producido por ICE Data Indices, incluye valores con un vencimiento restante entre 8 y 13 a帽os. Este producto innovador tiene como objetivo proporcionar una gesti贸n eficiente de la exposici贸n a los bonos soberanos de la UE y est谩 dise帽ado para atraer un mayor flujo de liquidez a trav茅s de su estructura de estilo accionario, basada en 铆ndices y liquidada en efectivo.
El contrato se negocia junto a los mercados de tasas de inter茅s europeos de ICE, incluidos los benchmarks Euribor, 鈧琒TR, SONIA y SARON. El complejo de derivados de tasas de inter茅s de ICE ha visto un crecimiento de m谩s del 20% interanual en el inter茅s abierto.
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Intercontinental Exchange (NYSE:ICE) a lanc茅 des contrats 脿 terme sur le Long European Union (EU) Bond Index, avec les premi猫res transactions d茅j脿 r茅alis茅es. Le contrat 脿 terme r茅gl茅 en esp猫ces fait r茅f茅rence 脿 l'ICE 8-13 Year European Union Index (G0EU8T13), qui suit la performance de la dette 脿 long terme de l'UE.
L'Indice, produit par ICE Data Indices, comprend des titres avec une dur茅e r茅siduelle comprise entre 8 et 13 ans. Ce produit innovant vise 脿 fournir une gestion efficace de l'exposition aux obligations souveraines de l'UE et est con莽u pour attirer un plus grand afflux de liquidit茅s gr芒ce 脿 sa structure de style action, bas茅e sur des indices et r茅gl茅e en esp猫ces.
Le contrat est n茅goci茅 aux c么t茅s des march茅s des taux d'int茅r锚t europ茅ens d'ICE, y compris les benchmarks Euribor, 鈧琒TR, SONIA et SARON. Le complexe des d茅riv茅s de taux d'int茅r锚t d'ICE a enregistr茅 une croissance de plus de 20 % d'une ann茅e sur l'autre en termes d'int茅r锚ts ouverts.
Intercontinental Exchange (NYSE:ICE) hat Terminkontrakte auf den Long European Union (EU) Bond Index eingef眉hrt, wobei bereits die ersten Handelsgesch盲fte ausgef眉hrt wurden. Der cashsettled Futures-Kontrakt bezieht sich auf den ICE 8-13 Year European Union Index (G0EU8T13), der die Performance von langfristigen EU-Schulden verfolgt.
Der von ICE Data Indices produzierte Index umfasst Wertpapiere mit einer verbleibenden Laufzeit von 8 bis 13 Jahren. Dieses innovative Produkt zielt darauf ab, eine effiziente Expositionsverwaltung gegen眉ber EU-Staatsanleihen zu bieten, und ist darauf ausgelegt, einen gr枚脽eren Pool an Liquidit盲t durch seine aktion盲rs盲hnliche, indexbasierte und cashsettled Struktur zu gewinnen.
Der Vertrag wird zusammen mit den europ盲ischen Zinsm盲rkten von ICE gehandelt, einschlie脽lich der Benchmarks Euribor, 鈧琒TR, SONIA und SARON. Der Komplex der Zinsderivate von ICE hat im vergangenen Jahr ein Wachstum von 眉ber 20% beim offenen Interesse verzeichnet.
- Launch of new financial product expanding ICE's derivatives offering
- 20% year-over-year growth in open interest across ICE's interest rate derivatives complex
- None.
Insights
The launch of Long EU Bond Index futures represents a significant development in European fixed income markets. This cash-settled instrument fills a important gap by providing a dedicated hedging tool for the growing EU debt market. The 8-13 year maturity focus is particularly strategic, targeting a sweet spot in terms of duration risk and market liquidity.
The timing is opportune given the ongoing debate about EU bonds' exclusion from sovereign indices. This product could drive increased institutional participation in EU debt markets, potentially enhancing liquidity and price discovery. The 20% year-over-year growth in ICE's interest rate derivatives open interest suggests strong market appetite for such instruments.
The cash settlement feature and index-based approach lower barriers to entry compared to physically-settled alternatives, which could attract a broader participant base including systematic traders and asset managers who might have previously faced operational constraints.
ICE's strategic positioning of this product alongside major rate derivatives like Euribor, 鈧琒TR, SONIA and SARON creates a comprehensive European rates ecosystem. This integration is important for market participants seeking efficient portfolio management and cross-market trading opportunities.
The index's construction by ICE Data Indices, a recognized third-country benchmark administrator, provides regulatory certainty and operational reliability. The volatility profile matching other European bond futures should make risk management and margin calculations more straightforward for existing market participants.
The early engagement of significant market players like ExodusPoint signals potential strong adoption. This product could become increasingly important as the EU continues to issue debt to fund initiatives like NextGenerationEU.
Futures Reference ICE 8-13 Year European Union Index
The cash-settled futures contract references the ICE 8-13 Year European Union Index (Ticker: G0EU8T13) which tracks the performance of long-term debt issued by the EU.
鈥淭his innovative product provides a much-needed solution for managing exposure to EU sovereign bonds efficiently,鈥� said Mirco Bulega, Partner at ExodusPoint Capital Management
The Index is produced by ICE Data Indices (IDI), a recognized third country benchmark administrator under the
鈥淗armonized EU debt is an emerging space and as it scales, market participants need a futures hedging tool to help them manage risk,鈥� said Caterina Caramaschi, Vice President, Financial Derivatives at ICE. 鈥淏y introducing an equity-style index-based instrument that is cash-settled, ICE is opening up EU debt to a potentially larger pool of liquidity.鈥�
鈥淲ith the interest and debate around the status of European Union bonds not being included in sovereign bond indices, we saw that customers wanted a way to invest in, and manage, exposure to EU debt,鈥� said Varun Pawar, Chief Product Officer of ICE Fixed Income and Data Services. 鈥淏y leveraging ICE鈥檚 leading fixed income pricing and reference data, IDI鈥檚 index construction capabilities, and ICE鈥檚 global futures team, we have created a product that allows customers to manage this risk, demonstrating the product innovation we can bring to customers across global financial markets.鈥�
The contract is available to trade and clear alongside ICE鈥檚 deeply liquid, multi-currency European,
About Intercontinental Exchange
(NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks that connect people to opportunity. We provide financial technology and data services across major asset classes helping our customers access mission-critical workflow tools that increase transparency and efficiency. ICE鈥檚 futures, equity, and options 鈥� including the 鈥� and help people invest, raise capital and manage risk. We offer some of the world鈥檚 largest markets to trade and clear energy and environmental products. Our fixed income, and execution capabilities provide information, analytics and platforms that help our customers streamline processes and capitalize on opportunities. At , we are transforming
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Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 鈥� Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2023, as filed with the SEC on February 8, 2024.
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