International derivatives marketplace CME Group today announced that it will launch options on €STR futures, beginning in the first quarter of 2024.

“With consistently strong volumes, open interest in our €STR futures has continued growing exponentially during 2023, now up to 29,000 contracts, with over 80% of market participants choosing CME Group as their home for European Short Term Rate futures trading,” said Mark Rogerson, EMEA Head of Interest Rate Products, CME Group. “Adding options to our growing €STR futures contracts will provide clients with the first holistic €STR derivatives solution that allows them to navigate continued economic uncertainty and more accurately manage their risk in European interest rate markets.”

In November, CME Group €STR futures reached an average daily volume (ADV) of 17,000 contracts – with a single-day record of 39,836 contracts traded on November 10.

€STR options will be listed by and subject to the rules of CME.