- Trading Screen Product Name
- Short German Bond Future (Schatz)
- Trading Screen Hub Name
- ICEU
- Contract Symbol
G02
- Unit of Trading
€100,000 nominal value notional euro-denominated German
Government Bond with 6% coupon
- Delivery Date
10th calendar day of the respective quarterly month. If such day is
not a business day, delivery shall occur on the next succeeding
business day
- Delivery Month
March, June, September, December, such that the nearest two
delivery months are available for trading
- Quotation
Per €100 nominal
- Minimum Price Fluctuation
0.005 (€5)
- Last Trading Day
Two business days prior to the Delivery Day of the relevant
maturity month. On the Last Trading Day, trading in the front month
will cease at 11:30 hours.
- Exchange Delivery Settlement Price
The London market price at 11:30 hours on the Last Trading Day. The
invoicing amount in respect of each Deliverable Bond is to be
calculated by the price factor system.
- Algorithm
Central order book applies a first in first out (FIFO) matching
algorithm.
- Off Exchange Trade Types
Basis Trading, Block Trading.
- Maturities
1 year and 9 months to 2 years and 3 months for Schatz Futures
Contracts
- Contract Standard
Contract Standard: Delivery may be made of any bonds on the
List of Deliverable Euro-denominated German Government Bonds in
respect of a delivery month of an Exchange Contract, as published
by the Exchange. All bond issues included in the List will have the
following characteristics: Having terms as to redemption that
provide for redemption of the entire Euro-denominated German
Government Bond issue in a single instalment such that the length
of time to the maturity date from the Delivery Day of the relevant
delivery month is within the maturity range for the relevant
Exchange Contract specified by the Board in the Contract Details;
Where relevant, having an original term to maturity, such that the
length of time from the issue date to the maturity day of the
Euro-denominated German Government Bond issue is within the
original term for the relevant Exchange Contract specified by the
Board in the Contract Details; Having no terms permitting or
requiring early redemption; Bearing interest at a single fixed rate
throughout the term of the issue payable in arrears annually
(except in the case of the first interest payment period which may
be more or less than a year); Being denominated and payable as to
principal and interest only in Euro and Eurocents; Not being
callable ; and Having an aggregate principal amount outstanding of
not less than €5 billion which, by its terms and conditions,
if issued in more than one tranche or tap or issue, is fungible.
- Markers
TAS (Trade at Settlement)
- Additional Information
Potential users of the European Government Bond Futures Contracts
should familiarize themselves with the relevant Contract Terms and
Administrative Procedures. Potential users should consider the
risks of holding a position until the Last Trading Day of a
Contract wherein they shall be buyers or sellers in the delivery
process. In particular, they should familiarize themselves with the
use of Price Factors and the EDSP price formation process as these
are both constituents of the formula for the calculation of the
invoicing amount.
NOTE: All times are London, unless otherwise stated
- MIC Code
- IFLL
- Clearing Venues
- ICEU