TSE will relax the rule regarding Off-Auction trading for stock index futures trading in the beginning of December as follows:
- A member can trade the same contract month with another member.
* Off-Auction Trading is presently limited to simultaneous sales and purchases of the same contract by a member
- VWAP (Volume Weighted Average Price) of the day before, morning, afternoon or day (net commission) is permitted in addition to the present price range (5 % above or below the last price)
- TOPIX Sector Index Futures (TOPIX Electric Appliances Index Futures, TOPIX Transportation Equipment Index Futures and TOPIX Banks Index Futures) can be traded.
* TOPIX and S&P/TOPIX 150 Futures are available now.
TSE will revise the rule regarding position limits of equity options in the beginning of December as follows:
A Member or a customer may not hold an aggregate position in excess of the following amounts of combining short positions in put options with long positions in call options of the same underlying stock or combining long positions in put options with short positions in call options of the same underlying stock.
- Amount of contract unit of an equity option correspondent to 1 % of the number of listed shares of the underlying stock.
- Amount of contract unit of an equity option correspondent to 0.7 % of the number of listed shares of the underlying stock if the purchase and sales rate (annual trading volume / number of listed shares) of the underlying stock is less than 10 %.
- The new position limit will be applied in the beginning of December. However, if the present position limit exceeds the new position limit, the present position limit will be available until the day before of the next regular revision of position limits.
