Over-Night Call Rate Futures
Over-Night Call Rate futures contract is an agreement to buy or sell a specific volume of the predetermined monthly average of uncollateralized Over-Night Call Rate (final results) released by Bank of Japan (BOJ) .
Over-Night Call Rate Futures are effective tools for reducing risks of short-term interest rate fluctuations by fixing future interest rates beforehand.
∗ Trading of Over-Night Call Rate Futures has been suspended since the night session of July 21,2017.
| Underlying asset | The monthly average of Uncollateralized Overnight Call Rate (Final results) released by the Bank of Japan (BOJ) | |
|---|---|---|
| Trading unit | ¥300,000,000 (Notional principal amount) | |
| Price quotation | 100 minus rate of interest | |
| Tick size & value | 0.005(¥1,250 ) | |
| Contract month | First 6 calendar months | |
| Last trading day | The last day of the month (the immediately prior business day if such last trading day falls on a Japanese bank holiday) | |
| Final settlement day | The second business day following the last trading day | |
| Final settlement | Cash settlement | |
| Final settlement price | 100 minus the monthly average of Uncollateralized Over-Night Call Rate (final results) in the contract month released by BOJ, rounded to the nearest 3rd decimal place | |
| Trading hours (JST) | 8:30 - 8:45 | Pre-open |
| 8:45 - 11:30 | Day session | |
| 11:30 - 12:30 | Restricted period | |
| 12:30 - 15:30 | Day session | |
| 15:30 - 20:00 | Evening session | |
| Trading hours for the contract on its last trading day (JST) | 8:30 - 8:45 | Pre-open |
| 8:45 - 11:30 | Day session | |
| 11:30 - 12:30 | Restricted period | |
| 12:30 - 15:30 | Day session | |
market information
Publication
For details, see "Outline for Over-Night Call Rate Futures"
For order types and modifiers available for this product, see "Order Types".
