The Exchange Tax from April 1st 1998

The Exchange tax which has been imposed on transactions on The Tokyo International Financial Futures Exchange (TIFFE) will be reduced to half as from April 1st 1998 and scheduled to be abolished by the end of 1999.

-Revision concerning Rates on Exchange Tax as from April 1st 1998-

1. Three-Month Euroyen Interest Rate Futures and One-Year Euroyen Interest Rate Futures.
   
   The tariff shall be reduced to 1/2 of the present preferential rate which means the 0.005/10,000 on the notional principal(approximately from 100 to 50 yen).
   
2. Options on Three-Month Euroyen Interest Rate Futures.
   
   The tariff shall be reduced to 1/2 of the present rate which means the 0.5/10,000 on the option premium.

-ends-