Publication of a report on the euro bonds and derivatives markets

The European Central Bank (ECB) is today publishing a report entitled “The euro bonds and derivatives markets”.

The report describes major developments in markets for euro-denominated bonds and related derivatives over the past eight years. Like its predecessor, “The euro bond market study” of December 2004, it focuses on developments that are predominantly structural and, as such, of a longer-term nature.

The study shows that markets for euro-denominated bonds, although still young institutional arrangements, have already achieved a high level of efficiency. Private sector issuers are increasingly entering these markets as liquidity conditions improve. Electronic trading is advancing, and efficient derivatives markets complement bond trading. On a global level, the share of euro-denominated bonds in world bond markets is rising.

The report is available on the ECB’s website.