Upon many market participants' request, Tokyo Stock Exchange starts the study about the revision of the specifications of 10-year JGB Futures regarding maturity of deliverable bonds or coupon rate to improve the trading convenience as the interest rates continue to be low in the current market situation.
Therefore, Tokyo Stock Exchange asks many market participants' opinions on following matters for its reference.
When you reply to the questionnaire, please unify the comments by your company and send e-mail or facsimile to the following address or number by February 12. (Please state your name, company, your section, your post, telephone number, facsimile number and e-mail address.)
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Questionnaire |
| 1. |
Deliverable bonds |
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Do you think it is necessary to review the maturity
of deliverable bonds? (Currently 10-year JGBs with 7 years or more.to maturity)
If you think so, what years do you think are appropriate? (Please describe the
reason together.) |
| 2. |
Coupon rates |
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| (1) |
Do you think it is necessary to change the notional
coupon rate (currently 6%) of 10-year JGB Futures? If you think so, what do you
think is an appropriate coupon rate? (Please describe the reason together.) |
| (2) |
Some market participants are concerned about "delivery
option" in case of lower coupon rate. What do you think of this point? |
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| 3. |
Please describe freely if you have any other opinion. |
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Contact : Derivatives department |
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