Key benefits
Why FX futures?
- Easy access and widely available
- Multilateral netting optimizes portfolios under UMR
- Highest capital savings (e.g., under the SA-CCR framework)
- Lowest margin period of risk minimizes funding requirements
- You can still maintain bilateral relationships through trading block trades and EFPs
Why on Eurex?
- Portfolio optimization under SA-CCR and UMR
- Highly competitive exchange fees
- Experts in European pairs and deep liquidity
- Efficient funding through our collateral solutions
Liquidity providers
Liquidity Providers Off-book (Block Trades/EFPs)
Firm | Products | Contact Details |
BNP | FX Futures | Contact via Bloomberg Asif Razaq +442075951197 Richard Condon richard.condon@us.bnpparibas.com +12123394356 Jason Green +442075958456 |
Deutsche Bank | FX Futures & FX Options | DACH FX Team +49 69 9103 7937 |
Flow Traders | FX Futures | Contact via Bloomberg Georg Saal Jonas Braun |
Goldman Sachs | FX Futures | Contact via Bloomberg Pavlos Couniniotis (UK) Antoine Le Tacon (Continental Europe) |
IMC | FX Options | Contact via Bloomberg Sergio Tam +31-207988599 |
Santander Bank | FX Futures & FX Options | Contact via Bloomberg John Ossell johnth.ossell@gruposantander.com +34 91 257 29 43 Jaime Rodriguez Iza jaime.rodriguez@gruposantander.com +34 91 257 20 48 |
Societe Generale | FX Futures | Contact via Bloomberg Vuk Kalezic +33 1421 36917 |
+3 additional undisclosed off-book liquidity providers. Reach out to Eurex for introductions
RFQ platforms
Eurex is driving the electronification of FX futures. We aim to provide cleared FX products in existing FX and RFQ platforms, enabling easy access for our clients.
Our listed FX derivatives are currently available through the following RFQ platforms:
- 360T
- RFQ Hub
- Eurex EnLight
FX Futures
FX Futures are comparable to OTC FX forwards but have significantly lower counterparty credit risk (CCR) as financial obligations are guaranteed by a central counterparty (CCP).
Contract specifications
Product code | Transaction fees | |||||||||
Currency pair | Min price change | Contract size | T7 | Bloomberg | Reuters | Order book | Block & EFP | |||
G7 USD | ||||||||||
EUR/USD | 0.00001 | EUR 100,000 | FCEU | FEEA Curncy | 0#FCEU | USD 0.30 | USD 0.45 | |||
GBP/USD | 0.00001 | GBP 100,000 | FCPU | FUPA Curncy | 0#FCPU | USD 0.30 | USD 0.45 | |||
AUD/USD | 0.00001 | AUD 100,000 | FCAU | POLA Curncy | 0#FCAU | USD 0.30 | USD 0.45 | |||
NZD/USD | 0.00001 | NZD 100,000 | FCNU | PODA Curncy | 0#FCNU | USD 0.30 | USD 0.45 | |||
USD/CHF | 0.00001 | USD 100,000 | FCUF | UFCA Curncy | 0#FCUF | USD 0.30 | USD 0.45 | |||
USD/JPY | 0.001 | USD 100,000 | FCUY | POYA Curncy | 0#FCUY | USD 0.30 | USD 0.45 | |||
USD/CAD | 0.00001 | USD 100,000 | FCUC | CYBA Curncy | 0#FCUC | USD 0.30 | USD 0.45 | |||
G7 crosses | ||||||||||
EUR/AUD | 0.00001 | EUR 100,000 | FCEA | POPA Curncy | 0#FCEA | USD 0.30 | USD 0.45 | |||
EUR/CHF | 0.00001 | EUR 100,000 | FCEF | FCAA Curncy | 0#FCEF | USD 0.30 | USD 0.45 | |||
EUR/GBP | 0.00001 | EUR 100,000 | FCEP | FCPA Curncy | 0#FCEP | USD 0.30 | USD 0.45 | |||
EUR/JPY | 0.001 | EUR 100,000 | FCEY | POTA Curncy | 0#FCEY | USD 0.30 | USD 0.45 | |||
GBP/CHF | 0.00001 | GBP 100,000 | FCPF | FCCA Curncy | 0#FCPF | USD 0.30 | USD 0.45 | |||
AUD/JPY | 0.001 | AUD 100,000 | FCAY | POBA Curncy | 0#FCAY | USD 0.30 | USD 0.45 | |||
EUR/CAD | 0.00001 | EUR 100,000 | FCEC | CFBA Curncy | 0#FCEC | USD 0.30 | USD 0.45 | |||
EUR/NZD | 0.00001 | EUR 100,000 | FCEK | CFAA Curncy | 0#FCEK | USD 0.30 | USD 0.45 | |||
Scandinavia | ||||||||||
EUR/NOK | 0.00001 | EUR 100,000 | FCNK | FKOA Curncy | 0#FCNK | USD 0.30 | USD 0.45 | |||
EUR/SEK | 0.00001 | EUR 100,000 | FCSK | FKPA Curncy | 0#FCSK | USD 0.30 | USD 0.45 | |||
EUR/DKK | 0.00001 | EUR 100,000 | FCDK | FKDA Curncy | 0#FCDK | USD 0.30 | USD 0.45 | |||
USD/NOK | 0.00001 | USD 100,000 | FCUN | UKTA Curncy | 0#FCUN | USD 0.30 | USD 0.45 | |||
USD/SEK | 0.00001 | USD 100,000 | FCUS | UKPA Curncy | 0#FCUS | USD 0.30 | USD 0.45 | |||
USD/DKK | 0.00001 | USD 100,000 | FCUD | UKBA Curncy | 0#FCUD | USD 0.30 | USD 0.45 | |||
NOK/SEK | 0.00001 | NOK 1,000,000 | FCNS | KKOA Curncy | 0#FCNS | USD 0.30 | USD 0.45 | |||
Emerging markets | ||||||||||
ZAR/USD | 0.00001 | ZAR 1,000,000 | FCZU | BJDA Curncy | 0#FCZU | USD 0.30 | USD 0.45 | |||
ZAR/EUR | 0.00001 | ZAR 1,000,000 | FCZE | BJEA Curncy | 0#FCZE | USD 0.30 | USD 0.45 | |||
MXN/USD | 0.00001 | MXN 1,000,000 | FCMU | BJBA Curncy | 0#FCMU | USD 0.30 | USD 0.45 | |||
MXN/EUR | 0.00001 | MXN 1,000,000 | FCME | BJCA Curncy | 0#FCME | USD 0.30 | USD 0.45 | |||
BRL/USD | 0.00001 | BRL 100,000 | FCBU | BJOA Curncy | 0#FCBU | USD 0.30 | USD 0.45 | |||
Options on FX Futures
- Options on FX Futures are standardized monthly options that allow users to manage risk or gain exposure to FX volatility with the counterparty risk protection of a CCP.
Regulatory considerations
- SA-CCR: Directional and uncollateralized portfolios are becoming more costly for banks under the SA-CCR framework. These are costs that banks typically pass on to clients. Cleared FX futures benefit from the lowest regulatory capital requirements under SA-CCR.
- UMR: FX futures help to optimize uncleared portfolios. FX futures enable clients to reduce the uncleared exposure below regulatory thresholds (such as the EUR 8 billion average aggregate notional amount).
- Counterparty credit risk: FX futures eliminate counterparty credit risk, even when traded directly between clients and their banks on a fully disclosed basis. This becomes ever more important in an environment of increasing uncertainty and counterparty defaults.
