Tokyo Financial Exchange Inc. (TFX) announces that it has decided to list “Three-month TONA futures” and “Three-month TONA futures option contracts”. Subject to approval by the competent authority for relevant arrangements of the exchange‘s rules and regulations, TFX plans to list the new products in late March 2023.
１．Three-month TONA futures Contract Specifications
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Underlying Asset
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Compounded daily TONA during a period of 3 months from the contract month
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Trading Unit
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1 Basis point value (price fluctuation of 0.01) = 2,500 yen
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Minimum Price Fluctuation
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0.001（0.001%＝250 yen）
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Contract Month
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Nearest 20 Quarterly Months（3,6,9,12）= 5 years
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Last Trading Day
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3rd Wednesday of the calendar month following each contract month by 3 months
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Trading Hours
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8:45～11:30（Day Session）※1
12:30～15:30（Day Session）
15:30～20:00（Evening Session）
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※1 Last trading day’s Day session with respect to each contract month shall be 8:45～9:30
２．Three-month TONA futures option contracts Contract Specifications
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Underlying Asset
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Three-month TONA futures
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Trading Unit
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One Trading Unit for Three-month TONA futures
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Minimum Price Fluctuation
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0.001（0.001%＝250 yen）
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Contract Month
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Nearest 5 Quarterly Months（3,6,9,12）
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Last Trading Day
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Same as respective underlying futures contract
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Exercise Price
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12.5 basis points (0.125) increments
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Exercise
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First Trading Day to Last Trading Day（American Style）
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Trading Hours
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8:45～11:30（Day Session）※2
12:30～15:30（Day Session）
15:30～20:00（Evening Session）
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※2 Last trading day’s Day session with respect to each contract month shall be 8:45～9:30
３．Planned Listing Date
Late March 2023
As a crucial FMI of Japan, TFX will endeavor to keep providing products covering wide range of asset class such as long and short term Yen interest rates, foreign currency interest rates, and currency related assets to meet the demands from broad-based market participants.
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