DAX Futures | Eurex: FDAX | Currency: EUR | Type: Index Futures
Key Statistics
About DAX Futures
DAX Futures (Eurex FDAX) are the benchmark derivative for German equities, valued at €25 per index point — one of the largest notional sizes among major index futures. The contract is a core instrument for European macro trading, reacting sharply to ECB policy, German industrial data and global risk sentiment. Eurex also lists Mini-DAX contracts at €5 per point for smaller position sizes.
Instrument Details
| Ticker | FDAX |
| Exchange / Market | Eurex |
| Instrument type | Index Futures |
| Quote currency | EUR |
Underlying & Contract Specifications
| Underlying asset | DAX 40 Index |
| Exchange | Eurex |
| Contract unit | €25 × index points |
| Expiry cycle | Quarterly — Mar / Jun / Sep / Dec |
Contract specifications are indicative — always verify against the exchange's official contract page before trading.
Trading Hours
DAX Futures trades nearly 23 hours a day on CME Globex-style sessions — from roughly 03:30 AM IST Monday through 02:30 AM IST Saturday, with a one-hour daily maintenance break around 03:30 AM IST. Outside those hours this page shows the last traded level, with change figures measured against the previous official close. All session times are expressed in Indian Standard Time (IST).
How to Read DAX Futures
The gap between DAX Futures and the underlying index's last close is often monitored as a guide to the possible opening move of the cash market. Overnight trends in the futures reflect reactions to news released outside regular hours. Traders also watch the futures premium or discount to fair value for sentiment cues.
52-week range: 21,863.811 – 26,573.5. Trailing 12-month change: 7.68%.
By Liveworldmarket Editorial Team · Last reviewed 17 August 2026
DAX Futures (FDAX) — A Practical Guide
DAX futures (Eurex ticker FDAX) track Germany's DAX 40 blue-chip index. The contract multiplier is €25 × index, making one FDAX worth approximately €450,000 notional at current levels — one of the largest equity-index contracts in the world. Liquidity is excellent during European hours and FDAX is the natural hedge for any euro-area equity exposure.
Unlike the FTSE 100, the DAX 40 is a much purer play on the German and broader eurozone economy. Constituents like Siemens, SAP, Volkswagen, Deutsche Bank, Allianz and BASF derive a meaningful share of revenue from European industry and finance. FDAX is therefore highly sensitive to ECB policy, German Bund yields, eurozone PMI prints and US-EU trade tensions.
History & contract origins
The DAX index launched on 1 July 1988 as a successor to several older German benchmarks. DAX futures (FDAX) launched on Deutsche Terminbörse (DTB, the predecessor of Eurex) on 23 November 1990. In September 2021, the index was expanded from 30 to 40 constituents, broadening sector representation.
Trading hours & session layout
Eurex FDAX trades nearly continuously (IST):
| Pre-market | 06:45 IST |
| Frankfurt cash open (Xetra) | 13:30 IST (winter) / 12:30 IST (CEST) |
| Xetra close | 21:00 IST (winter) / 20:00 IST (CEST) |
| FDAX after-hours close | 02:00 IST next day |
How to read this tape
DAX is highly correlated to S&P 500 on a daily-return basis (~0.7 over recent quarters) but with a noticeable beta of 1.1–1.3, i.e. DAX moves harder on the same news. Watch FDAX during the European open (12:30–13:30 IST) for a clue on how Asia's session will hand off to Europe.
Frequently asked questions
Is DAX a price-return or total-return index?
Uniquely among major equity benchmarks, the headline DAX is a TOTAL-return index — it reinvests dividends. This makes the headline level higher (and more flattering) than peer indices over multi-year horizons. There is also a 'DAX Kursindex' price-return variant.
Related markets
Editorial article. Information only — not investment advice. Read our Risk Disclaimer before acting on any market data shown here.