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Eurex — Europe’s leading derivatives exchange and, together with Eurex Clearing, one of the world’s leading central counterparties — saw trading volumes decline in July, reflecting more subdued market conditions. The exchange reported a total of 138.9 million contracts traded during the month — a 10 percent drop compared to the 154.3 million recorded in July last year. Despite the overall decrease, interest rate derivatives showed resilience, rising by 10 percent year-on-year to reach 75.4 million contracts. In contrast, equity derivatives trading fell by 19 percent to 18.6 million contracts. Index derivatives also saw a decline, with volumes dropping 30 percent to 44.3 million contracts.
OTC Clearing recorded a notable increase in July, with notional outstanding volumes climbing by 28 percent compared to July 2024. Total volumes reached EUR 45,770 billion, up from EUR 35,789 billion during the same period in 2024. Overnight index swaps led the surge, posting a 57 percent rise to EUR 5,901 billion. Interest rate swaps also contributed significantly, growing by 26 percent to EUR 19,207 billion.
Eurex Repo, Eurex’s leading electronic market for secured funding and financing, reported a 4 percent increase in average term-adjusted volumes for July 2025, reaching EUR 388.0 billion. The growth was largely driven by strong performance in the GC Pooling segment, which jumped 19 percent compared to the same period last year. In contrast, the Repo Market segment saw a 9 percent decline. Despite contrasting trends across segments, Eurex Repo maintained upward momentum with a 3 percent year-on-year increase in volumes through July.
Business overview – July 2025
July 2025 | July 2024 | Change | |
Financial derivatives: traded contracts Eurex Exchange | |||
Index derivatives (million) | 44.3 | 63.0 | -30% |
Interest rate derivatives (million) | 75.4 | 68.3 | +10% |
Equity derivatives (million) | 18.6 | 22.8 | -19% |
Total (million)1 | 138.9 | 154.3 | -10% |
OTC Clearing2 | |||
Notional outstanding volumes (billion EUR) | 45,770 | 35,789 | +28% |
| 19,207 | 15,236 | +26% |
| 5,901 | 3,763 | +57% |
Average daily cleared volumes (billion EUR) | 230 | 205 | +13% |
| 42 | 29 | +42% |
| 44 | 15 | +185% |
Compression volumes (billion EUR) | 0 | 106 | -100% |
Repo: Average daily term adjusted volume on Eurex Repo | |||
GC Pooling3 (billion EUR) | 196.0 | 164.3 | +19% |
Repo Market (billion EUR) | 192.0 | 210.4 | -9% |
Total (billion EUR) | 388.0 | 374.6 | +4% |
1 The total number of contracts traded includes other asset classes such as commodities.
2 Notional cleared volumes including post trading events such as compression.
3 Includes all currencies.
Media contact:
Irmgard Thiessen
+49 69 211-1 59 11
irmgard.thiessen@deutsche-boerse.com