All derivative financial instruments held for currency risk hedging purposes have a maturity of less than 18 months at inception and break down as follows:
| € millions | Nominal | Market value | ||||
|---|---|---|---|---|---|---|
| 31.12.2022 | 31.12.2021 | 31.12.2020 | 31.12.2022 | 31.12.2021 | 31.12.2020 | |
| Currency futures | ||||||
| Purchase of EURO against foreign currencies | 2,999.0 | 2,606.1 | 2,940.2 | 30.7 | -174.7 | 95.5 |
| EUR/CNY | 629.7 | 540.7 | 937.5 | 24.7 | -91.3 | 7.0 |
| EUR/USD | 197.6 | 502.4 | 343.5 | 3.7 | -26.3 | 30.2 |
| EUR/SGD | 750.9 | 118.4 | 5.6 | -12.6 | 3.3 | — |
| EUR/JPY | 118.8 | 201.3 | 47.5 | -2.2 | 3.3 | 0.1 |
| EUR/GBP | 231.0 | 162.9 | 308.9 | 3.6 | -6.8 | 1.1 |
| EUR/MXN | 249.2 | 148.3 | 137.7 | -5.7 | -4.8 | -4.1 |
| EUR/BRL | 171.3 | 117.5 | 70.9 | 1.2 | -0.7 | 0.6 |
| EUR/AUD | 143.3 | 88.5 | 89.5 | 3.6 | -1.9 | -3.9 |
| EUR/CLP | 91.6 | 57.9 | 50.2 | -5.9 | 5.5 | -1.8 |
| EUR/HKD | 90.1 | 76.7 | 210.1 | 1.5 | -35.9 | 54.2 |
| EUR/KRW | 70.1 | 56.7 | 49.2 | -1.2 | -0.4 | -0.4 |
| EUR/SAPMENA currencies | 85.8 | 182.2 | 170.3 | 5.3 | -7.2 | 0.6 |
| EUR/North Asia currencies | 56.1 | — | 52.6 | 2.9 | — | 3.8 |
| EUR/Europe currencies | — | 288.6 | 344.3 | — | -9.7 | 8.2 |
| EUR/Latin America currencies | 38.4 | 28.4 | 22.3 | 2.6 | -0.2 | 0.2 |
| EUR/SSA currencies | 29.1 | 21.0 | 28.7 | 0.5 | 0.5 | -2.2 |
| EUR/Other currencies | 46.1 | 14.5 | 71.5 | 8.5 | -2.2 | 1.8 |
| Sale of EUR against foreign currencies | 63.6 | 56.8 | — | -13.2 | -1.2 | — |
| EUR/Europe | 63.6 | — | — | -13.2 | — | — |
| EUR/North Asia currencies | — | 56.8 | — | — | -1.2 | — |
| Purchase of USD against foreign currencies | 2,511.6 | 418.6 | 373.1 | 86.5 | 13.2 | -18.2 |
| USD/SAPMENA currencies | 2,136.1 | 238.9 | 232.6 | 82.4 | 2.7 | -6.3 |
| USD/Latin America currencies | — | 130.7 | 68.3 | — | 9.9 | -5.7 |
| USD/CAD | 85.9 | 49.0 | 51.4 | 2.9 | 0.6 | -3.6 |
| USD/Europe currencies | — | — | 19.3 | — | — | -2.2 |
| USD/North Asia currencies | 289.6 | — | — | 1.1 | — | — |
| USD/SSA currencies | — | — | 1.4 | — | — | -0.4 |
| Sale of USD against foreign currencies | 273.9 | 508.8 | 242.7 | -9.6 | -5.6 | -10.0 |
| USD/North Asia currencies | — | 495.6 | 242.7 | — | -6.5 | -10.0 |
| USD/Latin America currencies | 138.9 | — | — | -8.9 | — | — |
| USD/Other currencies | 134.9 | 13.2 | — | -0.7 | 0.9 | — |
| Other currency pairs | 1,016.5 | 551.8 | 481.2 | -2.1 | -4.1 | 2.7 |
| CNY/SGD | 309.0 | 0.2 | 0.7 | -8.1 | — | — |
| SGD/HKD | 117.2 | 9.2 | 19.3 | -3.9 | 0.6 | 0.4 |
| Other currency pairs | 590.3 | 542.3 | 461.3 | 9.9 | -4.7 | 2.2 |
| CURRENCY FUTURES TOTAL | 6,864.6 | 4,142.3 | 4,037.1 | 92.2 | -172.7 | 70.0 |
| Currency options | ||||||
| EUR/CNY | — | — | 101.1 | — | — | 3.6 |
| EUR/RUB | — | — | 62.2 | — | — | 7.4 |
| EUR/USD | — | 69.4 | 37.7 | — | — | 2.9 |
| EUR/BRL | — | 11.1 | 26.0 | — | 0.1 | 2.1 |
| EUR/MXN | — | 7.7 | 21.8 | — | — | 0.5 |
| EUR/TRY | — | — | 9.4 | — | — | 1.5 |
| EUR/HKD | — | 70.4 | — | — | -0.1 | — |
| Other currency pairs | — | — | 18.6 | — | — | 0.6 |
| CURRENCY OPTIONS TOTAL | — | 158.5 | 276.7 | — | -0.1 | 18.6 |
| Of which total options purchased | — | 158.5 | 276.7 | — | -0.1 | 18.6 |
| Other hedging elements | — | — | — | — | — | — |
| Cross Currency Swap | 604.2 | — | — | -1.3 | — | — |
| OTHER ELEMENTS TOTAL | 604.2 | — | — | -1.3 | — | — |
| TOTAL | 7,468.8 | 4,300.6 | 4,313.7 | 90.9 | -172.5 | 88.6 |
