STIR Futures & Options

EURIBOR Futures and Options

Cost-efficient hedging of STIR risk

Eurex EURIBOR derivatives refer to the Euro Interbank offered rate, the benchmark of the euro money market. The EURIBOR is calculated and published by the European Banking Federation and is the rate at which euro interbank term deposits are offered between Eurozone banks. It features a term to maturity of three months.​​​​​

We offer Three-month EURIBOR futures and options, and the one to four year mid curve options.

With Packs & Bundles and Strips in EURIBOR Futures, we deliver greater operational efficiencies for STIR (short-term interest rate) traders. Hedging in money market derivatives typically requires traders to either buy or sell several outright contracts with consecutive maturity dates at once. Packs & Bundles and Strips package successive contracts together in order to facilitate execution.

Eurex Short Term Interest Rates Offering

By expanding the existing Partnership Program to include short-term interest rate (STIR) products, Eurex aims to strengthen its interest rate derivatives suite, enhancing cross-product efficiencies. The STIR offering also supports European systemic stability and Europe’s strategic autonomy agenda.

Eurex intends to create an EU-based liquidity pool for Euro short-term interest rate derivatives through the creation of choice, the fostering of liquidity, and the offer of significant capital efficiencies. Please visit the STIR partnership program site for more information.

A key element of the Eurex STIR offering is cross-margining within the Euro derivatives franchise, delivering unparalleled savings in collateral usage. The Euribor Futures and Options are included in the same liquidation group as Three-Month Euro STR Futures, Euro OTC Swaps and Euro Government Bond Futures cleared at Eurex Clearing. This offers margin reduction opportunities under the industry-leading Prisma margin methodology. For more information on Cross Product Margining click here.

EURIBOR Futures: Traded Contracts and Open Interest

Key benefits

  • Comprehensive offering: Euribor complements Eurex’s Euro government bond futures, OTC IRS swaps clearing and Repo offering.
  • Margin Efficiency: Eurex Clearing’s Prisma margin methodology offers Cross-margining opportunities with Euro LTIR Futures as well as Euro OTC Swaps cleared at Eurex Clearing. Click here for more information about Prisma.
  • Liquidity: Order book liquidity supported by dedicated market makers enabling anonymous trading in the CLOB.
  • Flexibility: Can be traded in the order book or via TES (Block). Packs & Bundles offer an efficient way to hedge longer exposures at a reduced cost. Inter-product spreads offer efficient execution of a strip of Euribor futures against a Euro-Schatz future.


Packs and Bundles strategies


Andreas Stillert
FIC ETD Product Design

T +49 69 211-1 72 78

Vassily Pascalis
Fixed Income Sales Europe

T +44-20-78 62-72 11

Market Status


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