Euro Bobl Future
A Euro Bobl Future (short Bobl future ) is an exchange-traded futures contract on medium-term, fixed-income and fictitious Federal notes ( Bobls ) or debentures of the former Treuhandanstalt .
backgrounds
The term of a Bobl Future is a maximum of 9 months, i.e. This means that contracts with the next three maturity dates are always traded. The Bobl future is based on government bonds with a remaining term of 4.5 to 5.5 years (based on the maturity date of the respective contract). Bobl futures are traded on the Eurex futures exchange under the product code FGBM, with the nominal value of a Bobl future being EUR 100,000.
Four terms are traded per year, each of which expires in March, June, September and December. The current price of the Bobl futures represents exactly the price that an investor in the market for a government bond with the term of the "cheapest to deliver" bond and a (fictitious) interest rate of exactly 6 percent on the due date of the respective futures contract. With a yield level of <6%, the cheapest bond to be delivered is always the bond with the shortest maturity, which is in the above term of 4.5 to 5.5 years.
See also
Individual evidence
- ↑ Deutsche Börse glossary (page 70) ( page no longer available , search in web archives ) Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice. (PDF; 2.2 MB)
- ↑ Eurex: Specifications for Euro Bobl Futures ( Memento of the original dated December 6, 2008 in the Internet Archive ) Info: The archive link has been inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
