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mini-10year JGB Futures (Cash-Settled)

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 JPY 10 million, one tenth the size of 10 year JGB Futures which have a value of JPY 100 million. 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 JPY 0.005, compared to JPY 0.01 per JPY 100 for 10 year JGB Futures.

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

Final Settlement Price

Although the final settlement method for 10 year JGB Futures is the actual delivery of the underlying 10 year 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.

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