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1. Launch of New Derivative Products
(Scheduled for June 16th)
The TSE will launch the following new derivatives:
- mini-TOPIX futures
- TOPIX Core30 futures
- TSE REIT Index futures
- ETF options & REIT options – expansion of the underlying securities for individual options
2. Campaign for New Derivatives
(Scheduled for June 16th)
In order to revitalize the Tdex market, the TSE will implement the Trading Fee Discount Campaign for futures and options as follows:
3. Introduction of Evening Session for index futures & options
(Scheduled for 4:30pm. on June 16th)
The TSE will introduce the Evening Session for index futures & options for the purpose of increasing convenience for institutional investors and expanding transaction opportunities.
| ●Trading hours: | Auction | 4:30pm. –7:00pm. |
| ToSTNeT | 4:30pm. – 7:10pm. | |
LDN time NY time |
: 7:30am. - 10:00(10:10)am : 2:30am. - 5:00(5:10)am. |
|
| ●Target products: | TOPIX futures & options, mini-TOPIX futures TOPIX Core30 futures, TSE REIT Index futures |
|
| Index futures & options | JGB futures & options |
?Ref.? Nikkei225 futures & options |
||||
|---|---|---|---|---|---|---|
| Auction | ToSTNeT | Auction | ToSTNeT | Auction | J-Net | |
| Morning Session | 9:00am. -11:00am. |
8:20am. -4:00pm. |
9:00am. -11:00am. |
8:20am. -3:20pm. |
9:00am. -11:00am. |
8:20am. -4:00pm. |
| Afternoon Session | 0:30pm. -3:10pm. |
0:30pm. -3:00pm. |
0:30pm. -3:10pm. |
|||
| Evening Session | 4:30pm. -7:00pm. |
4:30pm. -7:10pm. |
3:30pm. -6:00pm. |
3:30pm. -6:20pm. |
4:30pm. -7:00pm. |
4:30pm. -7:00pm. |
* Trading hours of evening session for JGB futures & options will not change.
(Reference) Description of Index futures
Comparison of index futures specifications
| Products | TOPIX futures | Mini-TOPIX futures | TOPIX Core30 futures | TSE REIT Index futures | |
|---|---|---|---|---|---|
| Underlying | TOPIX | TOPIX | TOPIX Core30 | TSE REITIndex | |
| Constituents (Feb. 2008) | 1,725 | 1,725 | 30 | 41 | |
| Trading Units |
Index x 10,000JPY | Index x1,000JPY | Index x 1,000JPY | Index x 1,000JPY | |
| Contract months (trading period) |
5 contract months (1year & 3 months) |
3 contract months (9 months) |
3 contract months (9 months) |
3 contract month (9 months) |
|
| Minimum fluctuation |
Auction | 0.5pts. |
0.25pts. | 0.5pts. | 0.5pts. |
| ToSTNeT | 0.1pts | 0.05pts. | 0.1pts | 0.1pts | |
| Inter-month Spread (Minimum fluctuation) | Available (0.1pts.) |
Available (0.05pts.) |
Available (0.1pts.) |
Available (0.1pts.) |
|
| Give-up | Available | Available | Available | Available | |
 |
