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.