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Ueda Tradition Securities Ltd. (hereinafter "Ueda Tradition Securities") and Osaka Exchange, Inc. (hereinafter "Osaka Exchange") are collaborating to stimulate trading of 3-month TONA Futures, which are the first short-term interest rate futures contracts to be listed on Osaka Exchange today, May 29, 2023.
Ueda Tradition Securities will facilitate the trading of 3-month TONA Futures via off-auction trading (J-NET trading) on Osaka Exchange, thereby providing market participants with additional trading opportunities. Ueda Tradition Securities and Osaka Exchange will actively cooperate to promote trading of derivatives products including short-term interest rates.
Kakizaki Kazuhisa, Executive Officer at Osaka Exchange, stated the following.
"We are very pleased to collaborate with Ueda Tradition Securities, which has extensive knowledge of and experience in yen interest rate swap transactions, to help enhance the convenience of 3-Month TONA Futures listed on Osaka Exchange. By leveraging Ueda Tradition Securities' expertise in OTC derivatives intermediation and Osaka Exchange's market operation of listed derivatives, we will contribute to further development of the entire interest rate derivatives market."
Kosugi Akinori, Representative Director and President of Ueda Tradition Securities, stated the following.
"Our group company, Tradition, which is affiliated with Ueda Tradition Securities, actively engages in intermediation of interest rate swaps and short-term interest rate-related derivatives in overseas markets, including the United States, thereby significantly contributing not only to OTC derivatives products but also to the promotion of listed derivatives trading. On May 8th of this year, Ueda Tradition Securities completed the necessary registration and will begin facilitating off-auction trading of short-term interest rate futures listed on Osaka Exchange. In addition to providing services in the OTC field, such as interest rate swaps, we aim to improve the convenience of the interest rate market in Japan by handling short-term interest rate futures listed on Osaka Exchange."
