CME Group Announces CME Term €STR Reference Rates
CME Group has announced the launch of CME Term €STR Reference Rates in response to client demand for a term rate anchored in €STR markets. The rates, currently in beta, are based on CME Group's €STR futures and OTC swap market data, available in 1-month, 3-month, 6-month, and 12-month tenors.
The €STR futures market has shown significant growth, with open interest exceeding 70,000 contracts and participation from over 250 end users. Since launching in October 2022, more than 5 million contracts have been traded. The rates are currently available for information and evaluation purposes only, pending appropriate licensing.
CME Group ha annunciato il lancio dei CME Term €STR Reference Rates in risposta alla domanda dei clienti per un tasso a termine ancorato nei mercati €STR. I tassi, attualmente in fase beta, si basano sui dati dei futures e degli swap OTC di €STR di CME Group, disponibili per scadenze di 1 mese, 3 mesi, 6 mesi e 12 mesi.
Il mercato dei futures €STR ha mostrato una crescita significativa, con un interesse aperto che supera i 70.000 contratti e partecipazione da oltre 250 utenti finali. Dalla sua lancio nell'ottobre 2022, sono stati scambiati più di 5 milioni di contratti. I tassi sono attualmente disponibili solo per scopi informativi e di valutazione, in attesa di licenza appropriata.
CME Group ha anunciado el lanzamiento de las CME Term €STR Reference Rates en respuesta a la demanda de los clientes por una tasa a plazo anclada en los mercados de €STR. Las tasas, que están actualmente en beta, se basan en los datos del mercado de futuros y swaps OTC de €STR de CME Group, disponibles en plazos de 1 mes, 3 meses, 6 meses y 12 meses.
El mercado de futuros de €STR ha mostrado un crecimiento significativo, con un interés abierto que supera los 70,000 contratos y la participación de más de 250 usuarios finales. Desde su lanzamiento en octubre de 2022, se han negociado más de 5 millones de contratos. Las tasas están actualmente disponibles solo para fines informativos y de evaluación, a la espera de la licencia adecuada.
CME 그룹은 고객의 요구에 따라 CME Term €STR 기준금리를 출시했다고 발표했습니다. 이 금리는 €STR 시장에 고정된 기한 금리에 대한 고객의 수요에 대응하고 있습니다. 현재 베타 상태인 이 금리는 CME 그룹의 €STR 선물 및 OTC 스왑 시장 데이터를 기반으로 하며, 1개월, 3개월, 6개월 및 12개월의 만기별로 제공됩니다.
€STR 선물 시장은 70,000개 계약을 초과하는 미결제 약정과 250명 이상의 최종 사용자가 참여하면서 상당한 성장을 보여주었습니다. 2022년 10월에 출시된 이후로 500만 개 이상의 계약이 거래되었습니다. 현재 이 금리는 정보 제공 및 평가 목적으로만 제공되며, 적절한 라이센스가 대기 중입니다.
CME Group a annoncé le lancement des CME Term €STR Reference Rates en réponse à la demande des clients pour un taux à terme ancré dans les marchés €STR. Les taux, actuellement en phase bêta, sont basés sur les données des futures et des swaps OTC de €STR de CME Group, disponibles pour des échéances de 1 mois, 3 mois, 6 mois et 12 mois.
Le marché des futures €STR a montré une croissance significative, avec un intérêt ouvert dépassant 70 000 contrats et la participation de plus de 250 utilisateurs finaux. Depuis son lancement en octobre 2022, plus de 5 millions de contrats ont été échangés. Les taux sont actuellement disponibles uniquement à des fins d'information et d'évaluation, en attendant une licence appropriée.
CME Group hat den Start der CME Term €STR Reference Rates bekannt gegeben, um auf die Nachfrage der Kunden nach einem termingebundenen Zinssatz zu reagieren, der in den €STR-Märkten verankert ist. Die derzeit in der Beta-Phase befindlichen Sätze basieren auf den Futures- und OTC-Swap-Marktdaten von CME Group für €STR, die in 1-Monats-, 3-Monats-, 6-Monats- und 12-Monats-Laufzeiten verfügbar sind.
Der Futures-Markt für €STR hat ein signifikantes Wachstum gezeigt, mit einem offenen Interesse von über 70.000 Verträgen und der Beteiligung von über 250 Endnutzern. Seit dem Start im Oktober 2022 wurden mehr als 5 Millionen Verträge gehandelt. Die Sätze sind derzeit nur zu Informations- und Evaluierungszwecken verfügbar, während eine angemessene Lizenz in Bearbeitung ist.
- Strong market adoption with over 70,000 contracts in open interest
- Wide market participation with 250+ end users
- Significant trading volume with 5+ million contracts traded since launch
- None.
Insights
The launch of CME Term €STR Reference Rates represents a significant development in European financial markets. With over 70,000 contracts in open interest and participation from 250+ end users, the €STR futures market has shown robust growth since its 2022 launch, trading over 5 million contracts. This expansion mirrors the successful implementation of CME's SOFR benchmark, which currently references
The introduction of these term rates, available in 1-month, 3-month, 6-month and 12-month tenors, will enhance market efficiency and transparency in euro-denominated financial products. This development is particularly valuable for financial institutions seeking reliable benchmarks for lending and fixed income products in the growing €STR ecosystem. The strong market adoption indicates CME Group's strengthening position in interest rate derivatives and benchmark administration services.
Published in beta today, the rates are based on CME Group's liquid €STR futures and OTC swap market data. They are published in 1-month, 3-month, 6-month and 12-month tenors.
"We are introducing €STR term rates in response to client demand for a more robust and transparent term rate for the growing €STR ecosystem," said Max Ruscher, Head of Benchmark Services, CME Group. "Building on the increasing liquidity in our €STR futures market and OTC trade data, our term rate is based on comprehensive derivatives transactions data that will help clients build lending and fixed income products."
€STR futures at CME Group have grown rapidly with open interest exceeding 70,000 contracts, with widespread participation in the market from over 250 end users. Since their launch in October 2022, over 5 million contracts have been traded in total.
Institutions interested in the CME Term €STR Reference Rates can learn more here. While the rates are in beta, they are displayed solely for information and evaluation purposes, and are not available for use (including as a reference, index or benchmark in financial instruments, financial contracts or investment funds) until further notice and an appropriate license is entered into.
CME Group Benchmark Administration Limited (CBA) is the benchmark administrator for CME Term SOFR, the global benchmark for new
As the world's leading derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. The company offers futures and options on futures trading through the CME Globex platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform. In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing.
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SOURCE CME Group
FAQ
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Can CME Term €STR Reference Rates be used in financial instruments currently?
