BOJ Meeting TONA futures
| Underlying asset | compounded daily TONA during the period between the Designated Monetary Policy Meeting Dates | |
|---|---|---|
| Trading unit | 1 Basis point value (price fluctuation of 0.01) = 2,500 yen | |
| Price quotation | 100 minus rate of interest | |
| Tick size & value | 0.001（0.001%＝250 yen） | |
| Contract months | The number of contract months designated by TFX . (Under the current practice of the Bank of Japan, the schedule of MPM for the following year is published at the end of July each year. Based on such schedule, TFX designates the “Designated Monetary Policy Meeting Dates” and trading of contract months for which a new “Period between the Designated Monetary Policy Meeting Dates” has been determined shall commence on the third Monday of August ) |
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| Reference Priod【Trading Calendar】 | “Period between the Designated Monetary Policy Meeting Dates” means the period from the next business day of the last day of a given set of Designated Monetary Policy Meeting Dates to the business day immediately preceding the last day of the next Designated Monetary Policy Meeting Dates.
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| Last trading day【Trading Calendar】 | The business day following the last day of the Period between the Designated Monetary Policy Meeting Dates for each contract month | |
| Final settlement day | The first business day following the last trading day | |
| Final settlement | Cash settlement | |
| Final Settlement Price | The final settlement price is calculated and presented to 3 decimal places (0.1 tick). The final settlement price is 100 minus the annualized compounded daily TONA, which is calculated by multiplying TONA of each business day in the Reference period between the Designated Monetary Policy Meeting Dates for the relevant contract month together, dividing it by actual number of days in the Reference period between the Designated Monetary Policy Meeting Dates, multiplying 365 (annualizing) and rounding off at 4 decimal places expressed in percentage. |
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| Trading hours (JST) | 8:30 - 8:45 | Pre-open period (Order entry without execution) |
| 8:45 - 11:30 | Day(morning) session (Cleared as today's trade) | |
| 11:30 - 12:30 | Restricted period (Cancel and volume cutback only) | |
| 12:30 - 15:30 | Day(afternoon) session (Cleared as today's trade) | |
| 15:30 - 20:00 | Evening session (Cleared as the next day's trade) | |
| Trading hours for the contract on its last trading day (JST) | 8:30 - 8:45 | Pre-open period |
| 8:45 - 9:30 | Day session | |
| Matching Method | Auction method with FIFO algorithm （Price/Time Priority） | |
| Strategy Trades | Calendar spread trading | |
| Implied Function | Implied-in and Implied-out | |
| Block Trades | Available (Minimum volume: 1 contracts) | |
| Give-up Trades | Available | |
| Margin | SPAN® | |
| Ticker Code | Refinitiv【JG1】 Bloomberg【 YPTA Comdty】 QUICK【012】 Trading Technologies 【G1】 |
TONA final result | Refinitiv【JPONMUF=RR】 Bloomberg【MUTKCALM Index】 Quick【TNAR@】 Bank of Japan 【Call Money Market Data】 |
Incentives
- please contact Wholesale Business Department.
Market information
For details, see "Outline for BOJ Meeting TONA futures"
For order types and modifiers available for this product, see "Order Types".
