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JPX to re-launch Super-Long-Term JGB futures

Update : Jun. 18, 2013

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[Tokyo Stock Exchange, Inc.]

Japan Exchange Group, Inc. (JPX) announced it has decided to re-launch Super-Long-Term (20-year) JGB futures (SL-JGB futures) based on JGB market conditions and discussions with investors. The re-launch is scheduled for April 2014, following the integration of the derivatives markets.
SL-JGB futures were listed on Tokyo Stock Exchange from July 8th, 1988, but were suspended due to little demand.
JPX has determined, however, the demand for SL-JGB futures is expanding in the context of the increase of issue amounts and trading volume of Super-Long-Term JGBs in the cash market. By trading SL-JGB futures, investors will be able to more easily hedge their positions in auctions and manage their portfolio as well as take various strategies related to yen interest rate changes in combination with existing 10year JGB futures. Therefore, JPX strongly thinks it will broaden the investor base not only for the JGB futures market but for the whole JGB market.
In Europe and the United States, a wide range of government bond futures are actively traded, and SL-JGB futures market growth will contribute to expanding the yen interest rate market as well as enhancing the global presence of the Japanese financial market.
JPX will be accepting public comments regarding the details of the SL-JGB futures trading rules starting today.

Outline PDF
Flyer                                                    (Correction on July 2, 2013 : Historical data for Super Long JGB Futures) PDF

Contact

Tokyo Stock Exchange, Inc.
Derivatives Dept.
Tel: +81-3-3666-0141 (Switchboard)
e-mail:tdex-biz@tse.or.jp

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