As part of its efforts to further expand its fixed income product line up, the Tokyo Stock Exchange, Inc. (TSE) announced its plan today to launch mini-sized 10-year JGB futures. These futures are scheduled to become available on March 23, 2009.
The TSE 10-year JGB futures market is the most active market of its kind in Japan and is a benchmark of long-term Japanese interest rates. Mini-sized 10-year JGB futures, which will be settled in cash, will function as an attractive new investment tool for both the world's individual and institutional investors.
| Item | mini-JGB futures | JGB futures |
|---|---|---|
| Trading hour | 9:00-11:00, 12:30-15:00, 15:30-18:00 | |
| Contract size | 10 million JPY face value | 100 million JPY face value |
| Minimum fluctuation | 0.005JPY / 100JPY face value (1tick 500JPY) |
0.01JPY / 100JPY face value (1tick 10,000JPY) |
| Settlement | Cash | Physical Delivery |
| ToSTNeT | Available | Available |
| Give-up | Available | Available |
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