JGB Futures
ToSTNeT Trading
Update : Nov. 21, 2011
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 | From 8:20 to 15:15, from 15:25 to 23:30 | |
| Tick Size | 0.01 JPY per 100JPY face value | 0.005 JPY |
| Price | Integer multiple of JPY 0.01 per JPY 100 at face value within the range of the price obtained by adding or subtracting the value obtained by multiplying 0.5% by the base reference price to or from such base reference price (the base price of the day if no contract price is present) decided during the auction trading on the day. | Integer multiple of JPY 0.05 within the range of the price obtained by adding or subtracting the value obtained by multiplying 0.5% by base reference price (the base price of the day if no contract price is present) to or from such base reference price decided during the auction trading on the day. |
| 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. | |