European Safe Asset Gateway

Explore the highest-quality public bonds in the EU – all in one place

Discover a curated universe of 370+ euro-denominated bonds issued by highly-rated public sector issuers in the European Union, with transparent pricing and comprehensive issuer information – all available for retail-sized trading through LuxXPrime.

What are European Safe Assets?

At LuxSE, we define European Safe Assets as high-quality euro-denominated benchmark bonds issued by triple-A rated Sovereign, Supranational and Agency (SSA) issuers based in the European Union (EU). ESAG is exclusively dedicated to public debt instruments.

In its initial phase, the scope of LuxSE’s European Safe Asset Gateway (ESAG) includes 370+ eligible bonds totalling EUR 3.6 trillion and issued by the following 10 issuers.

Supranationals

European Financial Stability Facility (EFSF) - European Investment Bank (EIB) - European Stability Mechanism (ESM) - European Union (EU)

Sovereigns

Denmark - Germany - Luxembourg - the Netherlands - Sweden

Agency

Kreditanstalt für Wiederaufbau (KfW)

Eligibility criteria for bonds on LuxSE’s ESAG section

Issued by SSA issuer based in the EU

Triple-A credit rating

EUR-denominated

Benchmark issuance size (minimum EUR 1 billion)

Available for retail-sized trading on LuxXPrime

A dedicated window within LuxXPrime

ESAG is a new LuxSE-operated service acting as a dedicated trading and information window within LuxXPrime and specially designed with retail investors in mind.

Rather than creating a new market, ESAG builds on LuxSE’s existing trading platform and offers a centralised overview of high-quality public debt instruments and their respective valuation/indicative prices & yield information, as well as relevant issuer documentation. All the bonds featured in ESAG are available for smaller sized trades via LuxXPrime.

The initiative aims to improve transparency, increase the visibility of the benchmark public bond market in the EU, and strengthen retail participation in European capital markets in support of the objectives of the Savings and Investments Union.

Why explore LuxSE's European Safe Asset Gateway?

Easy discovery

Central and openly available access point to high-quality public debt securities

Trusted universe

Focus on the highest rated SSA issuers in the EU

Greater transparency

Prices, yields and issuer documentation easily and freely accessible

Retail-sized trading

Execution via LuxXPrime, with guaranteed market presence from liquidity providers

From discovery to execution

The bonds featured in LuxSE’s European Safe Asset Gateway can be traded on LuxXPrime through the brokers connected to LuxSE’s trading platform, in four steps.

Find

Apply the dedicated 'European Safe Assets' filter on LuxXPrime's search to display the universe of eligible securities.

Compare

Review valuation or indicative prices, yields, bond features and issuance documentation for each eligible bond side by side.

Connect

Access LuxXPrime through any bank or broker connected to the platform.

Trade

Place your order and benefit from LuxXPrime's retail-sized trading environment, including firm quotes & competitive spreads.

Supporting the EU's strategic agenda

Through the ESAG initiative, LuxSE contributes to the European Union's ambition to strengthen European capital markets and to foster an investment culture across European member states.

Savings & Investments Union (SIU)

Adopted by the European Commission in March 2025, the SIU aims to guide the roughly €10 trillion currently held in EU bank deposits towards productive, capital-market investment.

Retail Investment Strategy (RIS)

Part of the EU's wider retail investment strategy, the RIS strengthens disclosure and investor-protection rules so that retail investors can access capital markets with greater confidence.

International role of the euro

ESAG brings together a large, diversified pool of liquid euro-denominated bonds, supporting the EU's ambition to strengthen the euro as a global reserve and investment currency.

Fostering an investment culture

By making European Safe Assets easier to identify, compare and access, ESAG encourages greater participation in capital markets – providing retail investors with more opportunities to invest in high-quality instruments and diversify their portfolio.

Stay informed

Receive the latest news on the European Safe Assets available on LuxSE, related market developments and new eligible securities.

Disclaimer

LuxSE does not provide investment advice or recommendations and does not execute transactions on behalf of investors. Eligibility for, or inclusion in, the European Safe Asset Gateway (“ESAG”) does not constitute an endorsement or investment recommendation by LuxSE. Investors wishing to trade should contact their bank or broker, which is responsible for any client-protection requirements applicable to the services it provides. ESAG-eligible bonds are issued by highly rated public-sector issuers, but they are not risk-free: Their price and value may fluctuate, credit ratings may change, and investors may lose some or all of the amount invested. Information displayed through ESAG is provided for general information purposes and is subject to LuxSE’s Terms of Use.

Common questions

Why did LuxSE create ESAG?

Is the ‘European Safe Assets’ tag similar to a credit rating or an investment recommendation?

Which currencies and issuers are covered?

How large is the ESAG universe at launch?

Does the initiative include sustainable bonds?

What happens if a bond no longer qualifies?

What does "retail-sized trading" mean?

Can retail investors access European Safe Assets?

Always in motion