CME to Launch €STR Options
Posted by Colin Lambert. Last updated: November 23, 2023
CME Group has unveiled plans to launch options on €STR futures, beginning in Q1 2024, the launch comes off the back of what the Merc says are “consistently strong volumes”.
CME says open interest in its €STR futures has continued growing exponentially during 2023, and is now up to 29,000 contracts.
“Over 80% of market participants choose CME Group as their home for European short term rate futures trading,” says Mark Rogerson, EMEA head of interest rate products, CME Group. “Adding options to our growing €STR futures contracts will provide clients with the first holistic €STR derivatives solution that allows them to navigate continued economic uncertainty and more accurately manage their risk in European interest rate markets.”
In November, CME says its €STR futures have reached an average daily volume of 17,000 contracts – with a single-day record of 39,836 contracts traded on November 10. The planned launch comes months after Eurex renewed its own attempts to build its EUR STR business.