Osaka Exchange, Inc. (OSE) will partially revise the Business Regulations, etc. in connection with the Introduction of Average Price with regard to Derivatives Trading.
An outline of the revisions is as follows.
Outline of Revisions
(1) Use of Average Price in Reports Concerning Derivatives Trading, etc.
Trading participants may use the average price for the contract price in monthly reports concerning transactions, which are delivered to customers that have unsettled accounts pertaining to trading, provided that the law permits the use of average prices in the report on the outstanding balance of transactions for such customer.
The delivery of reports concerning transactions will not be required if the customer is a professional investor, etc. and the delivery of the report on the outstanding balance of transactions is not required by law.
(2) Use of Average Price in Calculating the Amount of Money to be paid/received for Derivatives Trading Settlement, etc.
In operations between the trading participant and the customer, the average price may be used in place of the contract price, etc. in calculating the amount of money to be paid/received for settlement and the aggregate margin deposit.
(3) Others
Other necessary revisions will be made.
Implementation Date
The revisions will be implemented on March 16, 2015.