The Tokyo Stock Exchange Announces Change In The Initial Trading Dates Of Non-quarterly Month Contracts In Options On JGB Futures

The initial trading dates of non-quarterly month contracts in Options on JGB Futures will be advanced to the 1st of the second prior month of the respective option contract months from July 2000 contract. By the same token, the strike prices with 0.5 yen interval in the quarterly month contracts will be added on the 1st of the month prior to the last trading month from September 2000 contract so that 11 or more consecutive strike prices with 0.5 yen interval are available.

The additional setting of new strike prices on the 20th and thereafter in the last trading month, which is not the case under the current practice, will be introduced as follows from April 20th, 2000.

If the number of ATM and its consecutive OTM strike prices and/or the number of ATM and its consecutive ITM strike prices becomes two or less respectively, as a result of changes in the central strike price, new strike prices will be added at 0.5 yen interval on the following business day. Additional strike price shall be set, so that at least the two closest OTM and the two closest ITM strike prices are always available. This change will be implemented from the May 2000 and thereafter contract months from April 20 th , 2000.