TIFFE To Downsize U.S. Dollar-Japanese Yen Currency Futures

The Tokyo International Financial Futures Exchange (TIFFE) has announced that its U.S Dollar-Japanese Yen Currency Futures will be downsized to one-fifth on 1st November 2000. The contract size is to be changed from US$50,000 to US$10,000, and the tick value from \2,500 to \500. In accordance with this downsizing, the exchange fee is also reduced to \20 per contract on one-way basis, which is one-fifth of the current \100.

The purpose of this downsizing is to increase liquidity by targeting retail investors through its smaller contract size and lower margin requirements. Like the e-mini S&P 500 in the US and the Mini FTSE 100 in the UK, downsized contracts have become more popular in the world.

All remaining positions of current US Dollar-Japanese Yen Currency Futures will be multiplied by 5 automatically at the close of the day-trading session on 31st October 2000.