HOME>Market Information>Clearing-related Data : Eligible Securities as Margin
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| Kind of negotiable securities(Note6) | Member's Margin (Note5) |
Customer's Margin (Note5) |
|
|---|---|---|---|
| 1.Japanese Government bonds issued by the country of Japan | |||
| (1)Japanese Government bonds (not including floating rate Japanese Government bonds, book-entry Japanese Government bonds eligible for principal STRIPS (Separate Trading of Registered Interest and Principal of Securities) and book-entry Japanese Government bonds eligible for coupon STRIPS) and treasury discount bills (treasury bills and financing bills) | a. Within 1 year to maturity | 99% | 99% |
| b. Over 1 year to 5 years to maturity | 98% | 98% | |
| c. Over 5 years to 10 years to maturity | 97% | 97% | |
| d. Over 10 years to 20 years to maturity | 95% | 95% | |
| e. Over 20 years to 30 years to maturity | 93% | 93% | |
| f. Over 30 years to maturity | 92% | 92% | |
| (2)Floating rate Japanese Government bonds |
a. Within 1 year to maturity | 99% | 99% |
| b. Over 1 year to 5 years to maturity | 98% | 98% | |
| c. Over 5 years to 10 years to maturity | 96% | 96% | |
| d. Over 10 years to 20 years to maturity | 96% | 96% | |
| (3) Book-entry Japanese Government bonds eligible for STRIPS | a. Within 1 year to maturity | 98% | 98% |
| b. Over 1 year to 5 years to maturity | 97% | 97% | |
| c. Over 5 years to 10 years to maturity | 96% | 96% | |
| d. Over 10 years to 20 years to maturity | 94% | 94% | |
| e. Over 20 years to 30 years to maturity | 91% | 91% | |
| f. Over 30 years to maturity | 88% | 88% | |
| 2.Japanese local government bonds issued by Japanese local governments(Note1) | a. Within 1 year to maturity | 98% | 98% |
| b. Over 1 year to 5 years to maturity | 97% | 97% | |
| c. Over 5 years to 10 years to maturity | 96% | 96% | |
| d. Over 10 years to 20 years to maturity | 94% | 94% | |
| e. Over 20 years to 30 years to maturity | 92% | 92% | |
| f. Over 30 years to maturity | 91% | 91% | |
| 3.Bonds issued by certain Japanese legal entities pursuant to special Japanese law | |||
| (1)Bonds guaranteed by the Japanese Government with respect to repayment of principal and payment of interest |
a. Within 1 year to maturity | 98% | 98% |
| b. Over 1 year to 5 years to maturity | 97% | 97% | |
| c. Over 5 years to 10 years to maturity | 96% | 96% | |
| d. Over 10 years to 20 years to maturity | 94% | 94% | |
| e. Over 20 years to 30 years to maturity | 92% | 92% | |
| f. Over 30 years to maturity | 91% | 91% | |
| (2)Other bonds(Note2) | a. Within 1 year to maturity | 97% | 97% |
| b. Over 1 year to 5 years to maturity | 96% | 96% | |
| c. Over 5 years to 10 years to maturity | 95% | 95% | |
| d. Over 10 years to 20 years to maturity | 93% | 93% | |
| e. Over 20 years to 30 years to maturity | 91% | 91% | |
| f. Over 30 years to maturity | 90% | 90% | |
| 4.Bonds issued by companies(Note1) | |||
| (1)Bonds, other than bonds with stock acquisition right and exchangeable bonds (Note2) | a. Within 1 year to maturity | 97% | 97% |
| b. Over 1 year to 5 years to maturity | 96% | 96% | |
| c. Over 5 years to 10 years to maturity | 95% | 95% | |
| d. Over 10 years to 20 years to maturity | 93% | 93% | |
| e. Over 20 years to 30 years to maturity | 91% | 91% | |
| f. Over 30 years to maturity | 90% | 90% | |
| (2)Convertible bonds and exchangeable bonds(Note3) | 80% | 80% | |
| 5.Stock (except for stock acquisition right)(Note3) | 70% | 70% | |
| 6.Yen-denominated bonds prescribed in Article 2-11 of the Enforcement Order of Financial Instruments and Exchange Act(Note1) | a. Within 1 year to maturity | 98% | 98% |
| b. Over 1 year to 5 years to maturity | 97% | 97% | |
| c. Over 5 years to 10 years to maturity | 96% | 96% | |
| d. Over 10 years to 20 years to maturity | 94% | 94% | |
| e. Over 20 years to 30 years to maturity | 92% | 92% | |
| f. Over 30 years to maturity | 91% | 91% | |
| 7.Yen-denominated bonds issued by foreign legal entities (not including Yen-denominated bonds prescribed in Article 2-11 of the Enforcement Order of Financial Instruments and Exchange Act, convertible bonds and exchangeable bonds)(Netes 1 and 2 ) | a. Within 1 year to maturity | 82% | 82% |
| b. Over 1 year to 5 years to maturity | 81% | 81% | |
| c. Over 5 years to 10 years to maturity | 80% | 80% | |
| d. Over 10 years to 20 years to maturity | 78% | 78% | |
| e. Over 20 years to 30 years to maturity | 76% | 76% | |
| f. Over 30 years to maturity | 75% | 75% | |
| 8.Treasury securities of the United States of America |
a. Within 1 year to maturity | 84% | 84% |
| b. Over 1 year to 5 years to maturity | 84% | 84% | |
| c. Over 5 years to 10 years to maturity | 84% | 84% | |
| d. Over 10 years to 20 years to maturity | 84% | 84% | |
| e. Over 20 years to 30 years to maturity | 83% | 83% | |
| f. Over 30 years to maturity | 82% | 82% | |
| 9.Beneficiary certificates of a securities investment trust(Note4) | |||
| (1)Beneficiary certificates of a bond investment trust | - | 85% | |
| (2)Beneficiary certificates of investment trusts for other types of securities | - | 70% | |
| 10.Beneficiary certificates of a loan trust (limited only to those which are deposited with the Trading Member acting as the trustee under the trust agreement governing the loan trust, and which was issued at least one year prior to depositing) | - | 90% | |
| 11.Receivables under time deposits, negotiable certificates of deposit and call deposits (limited only to those which are deposited with the Trading Member who is the obligor of the relevant receivables) | - | 95% | |
| (Note 1) | Limited only to those issued under a master underwriting contract with a financial instruments firms |
| (Note 2) | Limited only to those which are rated exclusively A or its equivalent or above by all the eligible external credit assessment institutions, or which are otherwise deemed appropriate by the Exchange taking into other factors concerned, including without limitation the issuer credit-worthiness. |
| (Note 3) | Limited only to those listed on an exchange market within Japan |
| (Note 4) | Limited only to those whose previous day’s net asset value per unit is announced by The Investment Trusts Association |
| (Note 5) | The market price of above eligible securities shall be determined as follows: |
| (1) | For the negotiable securities listed in 1 through 3, and 4(1), and 6 and 7 above: |
| a. | If their reference prices for transactions are published by Japan Securities Dealers Association: The average of such prices |
| b. | If their reference prices for transactions are not published by Japan Securities Dealers Association: The closing price quoted on an exchange market within Japan (if they are listed on more than one (1) exchange market within Japan, the exchange market within Japan designated by the Exchange; the same interpretation shall apply hereinbelow) |
| c. | If there is no closing price quoted on the relevant market in the case of b. above: The last bid or asked price quoted on the relevant market |
| (2) | For the negotiable securities listed in 4(2) and 5 above: |
| a. | The closing price quoted on an exchange market within Japan |
| b. | If there is no closing price quoted on the relevant market in the case of a. above: The last bid or asked price quoted on the relevant market |
| (3) | For the negotiable securities listed in 8 above: The last bid or asked price quoted on the New York market on the same day as two (2) business days preceding the day on which those securities are deposited (provided that if such business day is a holiday of the New York market, the business day immediately preceding such business day not falling on the New York market’s holiday) |
| (4) | For the negotiable securities listed in 9 above: The net asset value per unit thereof as of the previous day announced by The Investment Trusts Association |
| (Note 6) | Limited only to those with respect to which the fair market value is available by any one of the ways set forth in Note 5 above. |
