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Fixed-income futures market springs to life

Volumes soared as the market was wrong-footed by an upbeat ECB statement and strong bank loan repayments. FN discovers if the momentum will last

After a year spent in the doldrums, the European fixed-income market exploded into life in January. For NYSE Liffe, London’s largest futures exchange, the month was a record for benchmark contracts tied to the Euribor interbank lending rate.

The rise in volumes was steep: 32.1 million contracts changed hands, a 14% rise on the previous record in 2010 (see chart).

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