TFX has listed Over-Night Call Rate Futures (hereinafter
called “Call Rate Futures”) and Spot-Next Repo Rate Futures
(hereinafter called “Repo Rate Futures”) as Over-Night Interest Rate
Futures since December 2007.
TFX has decided to change the contract specification of its Overnight
Interest Rate Futures contracts as follows in order to meet member
demands and revitalize the market.
1. Main changes in products
| Items | After Change | Current |
| (1)Underlying asset | ||
| Call Rate Futures | Average Uncollateralized Overnight Call Rate (Final results) released by the Bank Of Japan (BOJ) over the interval between the BOJ’s Monetary Policy Meetings (MPMs) | Average Uncollateralized Overnight Call Rate (Final results) released by the Bank Of Japan over a period of 1 calendar month |
| Repo Rate Futures | Average GC Spot-Next Repo Rate released by BOJ over the interval between the BOJ’s MPMs | Average GC Spot-Next Repo Rate released by Bank Of Japan over a period of 1 calendar month |
| (2)No. of contract months | ||
| Call Rate Futures & Repo Rate Futures |
6 consecutive calendar months | 12 consecutive calendar months |
2. Timing of implementation
TFX will list the new Call Rate Futures and Repo Rate Futures by
around June this year.
3. Action
Prior to the aforementioned amendment, TFX will suspend trading in
the Call Rate Futures and Repo Rate Futures in early April 2010.
Please settle positions arising from Call Rate Futures or Repo Rate
Futures before the suspension.
Please see the accompanying documents for details.
