These contracts offer the following key benefits to money market participants:
- Contract standardisation and central counterparty clearing to more efficiently manage your counterparty credit risk
- Both contracts offer cost-effective hedging and exposure opportunities for all forms of money market trading, including repo and reverse repo, short-term swaps and treasury management
- Referenced to EBF three month Eonia Swap Index rates and Eonia® (as calculated by the ECB (European Central Bank)), these contracts provide a cost-effective means of gaining or hedging exposure to Eonia swap rates and euro overnight interest rates
- The three month Eonia Swap Index contract is referenced to IMM (International Money Market) dates, enhancing the spread trading opportunities available with NYSE Liffe's flagship Euribor futures contracts
- The one month contracts are referenced to central bank reserve maintenance periods, enhancing the hedging opportunities for short-term money market traders, treasury desks and cash managers
- The minimum price movement ("tick size" and value) match that of the Euribor® futures contracts, simplifying the spread trading opportunities between the Eonia® and Euribor® contracts
- Provide the market with a hedging tool for unsecured lending, on-exchange, at a time when credit exposure is under heightened scrutiny
- Euribor/Eonia inter-contract spread (ICS) also available to minimise execution risk, whilst simultaneously gaining exposure to both three month Euribor and Eonia futures
- There are attractive margin offsets for positions in these contracts, as well as market making schemes and a Euribor/Eonia ICS liquidity provider scheme. Please contact us to find out more
Wholesale trading facilities are also available in these contracts to support a variety of trading requirements. These include: the Asset Allocation Facility (with no volume threshold) for spread trades carried out against our other benchmark STIR contracts; and the Basis Trading Facility, which can facilitate spread trades against other non-NYSE Liffe interest rate contracts. Block trades in the Euribor/Eonia ICS are also supported with a minimum threshold of only 375 lots.
The Quote Vendor Codes for the Eonia® futures contracts can be viewed here. | 
