Estadísticas › Intraday y microestructura de mercado › 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 |
| Liquidación | 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.
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