Futures & Options
ToSTNeT Trading
Update : Mar. 3, 2009
In order to satisfy the diversifying needs of market users, and to enhance the convenience of JGB Futures as a hedging tool, the TSE introduced basis and block trading for JGB Futures on April 9, 2001, and for mini-10 year JGB Futures on March 23, 2009.
JGB Futures ToSTNeT Trading
| 5-year JGB Futures 10-year JGB Futures | mini 10-year JGB Futures | |
|---|---|---|
| Contract month | Same contract month of JGB futures on the auction market |
|
| Trading hours | 8:20 - 15:10 / 15:30 - 18:20 (half-holidays 8:20 - 11:20) | |
| Tick Size | 0.01 JPY per 100JPY face value | 0.005 JPY |
| Price | Integral multiples of the tick size, within a range obtained by multiplying the last executed price (including special quotes in auction trading just before the ToSTNeT trading order is placed. If the issue did not trade on that day, the base price will be the base price for the price limit.) by 0.5%, then adding and subtracting that number from the ToSTNeT trading base price. | |
| Contract Size | 100 million JPY face value | 10 million JPY |
| Circuit Brake | Suspended with respect to a specified contract month for the period during which trading in a trading session is suspended for such contract month. | |
| Open interest | Consolidated with the auction market. Margin and mark-to-market requirements, and notifications of resale/repurchase for open interest of ToSTNeT transactions are also consolidated with those of the auction market. | |
Survey regarding 10-Year JGB Futures Trading(TSE News Jan. 23, 2009)