mini-10year JGB Futures

What are "mini-10year JGB Futures"?

"mini-10 year JGB Futures" are one-tenth the size of 10-year JGB Futures.
The contract size of the mini-10 year JGB Futures is 10 million JPY, one tenth the size of normal JGB Futures which have a value of 100 million JPY. Mini-10 year JGB Futures will provide investors with a convenient means to trade in smaller denominations. The minimum fluctuation of the mini-10 year JGB Futures is 0.005 JPY, compared to 0.01 JPY per 100 JPY for JGB Futures.

  Minimum
fluctuation
Contract
Size
Value of
1 tick
Final Settlement Method
JGB Futures 0.01 JPY per
100 JPY
face value
100 million
JPY
face value
10,000 JPY Delivery of JGBs
mini-10 year JGB Futures 0.005 JPY 10 million JPY 500 JPY Cash Settlement based on
Final Settlement Price

Final Settlement Price

Although the final settlement method for JGB Futures is the actual delivery of the underlying JGB, for mini-10 year JGB Futures, the settlement method is conducted via cash transfer according to the Final Settlement Price. The Final Settlement Price for mini-10 year JGB Futures is the opening price of the 10-year JGB Futures for the same contract month as conducted on the business day following the last day of trading for the mini-10 year JGB Futures contract. In cases where there is no opening price for the 10-year JGB Futures with same contract month, as a result of no trades being executed or a trading suspension, the OSE will set the final settlement price for the mini-10 year JGB Futures.

Flyer

Overview of Japanese Government Bond Futures & Options (Flyer)