Euro-Bund Futures specifications
Eurex Deutschland (Eurex), interest rate
- Tick
- €100.01 per tick
- One point
- €1,000per contract
- Initial margin
- €2,368.36exchange, as of 27 Oct 2026
- Front contract
- FGBLZ26roll by 4 Dec 2026
Specs checked as of How we source this
Contract terms
| Symbol | FGBL |
|---|---|
| Exchange | Eurex Deutschland (Eurex) |
| Contract unit | €100,000 notional German government bond, 6% coupon, 8.5–10.5 years |
| Price quotation | percent of par |
| Tick size | 0.01 |
| Tick value | €10 per contract |
| Value of one point | €1,000 per contract |
| Currency | EUR |
| Contract months | Mar (H), Jun (M), Sep (U), Dec (Z) |
| Settlement | Physical delivery |
| Trading hours | Continuous trading 01:10–22:00 CET/CEST Monday–Friday. On the last trading day the expiring contract stops at 12:30. Hours in your time zone |
| Expiry | Delivery day: 10th calendar day of the contract month (next exchange day if not one). Last trade: 2 exchange days before delivery (12:30 CET). Next expiries |
| Exchange specification | https://www.eurex.com/ex-en/markets/int/long-term-interest-rates/fix/government-bonds/Euro-Bund-Futures-137298 |
What these terms mean
The Euro-Bund Futures futures contract (FGBL) is listed on Eurex Deutschland. One contract represents €100,000 notional German government bond, 6% coupon, 8.5–10.5 years, and prices are quoted in percent of par. The minimum price movement, or tick, is 0.01, worth €10 per contract. A move of one full point is therefore worth €1,000 per contract, and every profit, loss and margin figure for FGBL scales from those two numbers.
FGBL is listed for these contract months: Mar (H), Jun (M), Sep (U), Dec (Z). FGBL is physically delivered: holding a position into the delivery period can create an obligation to make or take delivery, which is why speculative traders normally close or roll before the first notice day or last trading day. The rollover page lists the next expiries and the dates that matter for each.
The values on this page come from the exchange's own contract specification and were last checked on 27 Oct 2026. Exchanges amend contract terms from time to time, most often trading hours and tick sizes. Where a value here disagrees with the exchange, the exchange is right; the methodology page explains how each field is checked, and any field we have not confirmed against the exchange is marked on this page.
Related contracts
- 10-Year U.S. Treasury Note (ZN): tick value $15.625
Compare
- ZN vs FGBL: 10-Year U.S. Treasury Note and Euro-Bund Futures
Sources
- https://www.eurex.com/ex-en/markets/int/long-term-interest-rates/fix/government-bonds/Euro-Bund-Futures-137298: all contract terms; read from exchange page 2026-10-27
Questions
- What is the tick size of FGBL?
- The minimum price movement of Euro-Bund Futures futures is 0.01, worth €10 per contract.
- How much is one point of FGBL worth?
- One full point is worth €1,000 per contract.
- Is FGBL cash-settled or physically delivered?
- FGBL is physically delivered.