Stats › Intraday and market microstructure › Bund futures
The four German bond futures are the same contract with four different notional coupons
| Specification | Schatz | Bobl | Bund | Buxl |
|---|---|---|---|---|
| Contract value | 100,000 euro | 100,000 euro | 100,000 euro | 100,000 euro |
| Notional coupon | 6% | 6% | 6% | 4% |
| Deliverable remaining term | 1.75 to 2.25 years | 4.5 to 5.5 years | 8.5 to 10.5 years | 24 to 35 years |
| Original term cap on German debt | 11 years | 11 years | 11 years | none stated |
| Minimum price change | 0.005%, 5 euro | 0.01%, 10 euro | 0.01%, 10 euro | 0.02%, 20 euro |
| Last trading day | two exchange days before delivery, closing 12:30 | the same | the same | the same |
| Delivery day | tenth calendar day of the quarterly month | the same | the same | the same |
| Settlement | physical delivery | the same | the same | the same |
From the exchange's own contract specification document listed 7 September 2026. Contract months are the next three of the March, June, September and December cycle. German deliverable debt requires a minimum issue volume of four billion euro. The clearing house sets the deliverable bonds and the conversion factors, published separately.
The Schatz, Bobl, Bund and Buxl all have a face value of 100,000 euro, deliver physically on the tenth of the quarterly month and stop trading at 12:30. Only the notional coupon and the deliverable maturity band differ.
Members only
The rest of this page is for members
Below this point there are 4 sections and 4 named sources, roughly 750 words of it. Every figure carries the source it came from and the date the data is from.
You can keep browsing every statistic in the library for free. The intro and the summary are always open.