Hey,

Do the German Bund and Bobl have a cash product that trades at an exchange? If so, where does it trade, and what times does it trade? Google is letting me down

Thanks
-Jeff

I am not aware that government bonds are traded on central exchanges, but most of the business is done OTC or through private clearing partnerships. Eurex - the exchange where Bund and Bobl futures trade - has set up a trading and clearing platform for bond trading.

Trading times are as per document below. Deduct 7 hours to translate to US Central Time.

Further detailed information available here:

Eurex Bonds - The Trading Platform for European Bonds

I am not a bond trader, so I would not exclude that bonds are being traded elsewhere as well.

jeffbg123 

Hey, Do the German Bund and Bobl have a cash product that trades at an exchange? If so, where does it trade, and what times does it trade? Google is letting me down Thanks -Jeff

Information on the German Government Bond Market. Source is SIFMA, document attached.

Trading

There are three (3) Platforms operating on the German Government Bond market: Eurex Bonds, ICAP/Brokertec and MTS Deutschland

Post-Trading

The German Finance Agency does not require the members of its Bund Issues Auction Group to settle the transactions on a specific CSD.

In Germany, LCH Clearnet SA is available as a central counterparty on ICAP/Brokertec where participants have to use it and MTS Deutschland for which it’s an option offered to the participants. On Eurex Bonds however the participants may use Eurex Clearing as a CCP and Clearstream Frankfurt, Clearstream Luxembourg or Euroclear Bank for the settlement of the trades. ICAP/Brokertec and MTS Deutschland both as well offer settlement facilities on the domestic CSD, Clearstream Frankfurt, and the two (2) ICSDs, Clearstream Luxembourg and Euroclear Bank.