Update : Nov. 21, 2011
Strategy trading has also been made available for futures trading with the launch of Tdex+ System. In connection with the system launch, inter-month spread trading shall be handled as a type of strategy trading.
Inter-month spread trading means a form of trading conducted by placing bids/offers based on the price difference (spread) of two different contract months (specifically, a nearer contract month and a farther contract month; for example, March and June) to establish opposite positions by selling one and buying the other at the same time for the two contract months. Any combination is possible for all listed issues in inter-month spread trading.
Buying in spread trading = Buy a nearer contract month + Sell a farther contract month
Selling in spread trading = Sell a nearer contract month + Buy a farther contract month
|Products||10-year JGB Futures||5-year JGB Futures||Mini 10-year JGB Futures|
|Trading hours||8:45-11:00 / 12:30-15:00 / 15:30-23:25|
|Minimum fluctuation||0.01 yen||0.005 yen|
|Bids and offers of 0 and negative figures are applicable for all the products|
|Dynamic Price Range||As a general rule, twice the bid/offer of individual issues (JPY 1during Pre-Open and JPY 0.20 during Open)
Function to Prevent Erroneous Order Placement
|Minimum trading unit||1 unit|