Eurex has extended its partnership program to cover Credit Index Derivatives, with eight banks and trading firms joining at the launch on 1 August. The group includes Banco Santander, BNP Paribas, Flowtraders, Goldman Sachs, Jane Street, J.P. Morgan, Morgan Stanley, and Susquehanna International Group, announced Eurex in a press release.
The program builds on Eurex’s earlier setups in interest rate swaps and short-term rates, where participants commit to providing liquidity under a shared incentive and governance framework. The exchange positions Credit Index Futures as a listed and centrally cleared alternative to over-the-counter tools such as credit default swaps and total return swaps, with the potential for cross-margining benefits against other Eurex fixed income products.
Rising activity
Credit Index Futures have seen steady growth since their introduction in October 2021, starting with the Bloomberg MSCI Euro Corporate Screened Index Futures. According to Eurex, the volume and Open Interest this year has more than doubled versus the first eight months of 2024, while the total traded notional in all Credit Index Futures at Eurex stood at over 75 billion euro, with a total outstanding notional of 2.8 billion euro as of 31 August 2025.
Eurex says the extension of its partnership program is designed to strengthen liquidity and broaden the investor base in listed credit derivatives. Early comments from launch members point to growing client demand for credit index futures and expectations that the product will continue to gain traction as liquidity develops.
