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EU has no immediate plans to launch futures for new bonds - official

·1 min read

LONDON, Sept 21 (Reuters) - The European Union has no immediate plans to launch a futures contract for new EU bonds, although they are part of the debate on how to boost liquidity in the growing debt market, a budget official at the European Commission said on Tuesday.

As the EU ramps up issuance of bonds to fund the bloc's post-pandemic recovery fund, the debt issuer has been taking steps to build up trading activity in the market.

This has led to some debate in markets over whether the EU could launch a futures contract, a tool that helps hedging activity, and that many big issuers such as Germany and France have. "We have no concrete plans to put in place a futures contract in the short-term," Niall Bohan, a director of the European Commission’s budget directorate, told the OMFIF conference.

"We want to look at how to improve liquidity first, futures are part of the mix but we have no immediate plans to do anything yet." (Reporting by Dhara Ranasinghe Editing by Tommy Wilkes)