Revisions to Trading Rules in Connection with Launch of J-GATE3.0

Osaka Exchange (OSE) and Tokyo Commodity Exchange (TOCOM) will launch the next-generation derivatives trading system (J-GATE3.0) on September 21, 2021 (Tue.) from the perspective of making the market more reliable and convenient for investors, trading participants, and other market users to improve liquidity of market.

OSE and TOCOM will revise trading rules in line with the launch of J-GATE3.0.

OSE Rule Revisions
TOCOM Rule Revisions

Main revisions are as follows.

Outline of the Revisions

  OSE TOCOM
Expansion of Trading Hours
  • OSE will extend the end of the night session from 5:30 a.m. to 6:00 a.m.
  • OSE will move up the start of the day session for index options from 9:00 a.m. to 8:45 a.m.
  • TOCOM will extend the end of the night session from 5:30 a.m. to 6:00 a.m.
Immediately Executable Price Range Rule (DCB Rule), etc.
  • Introduction of DCB rule for opening auctions, etc.
  • Expansion of executable price range in closing auction for index futures, index options, commodity futures and options on commodity futures.
  • Introduction of DCB rule for opening auctions, etc.
  • Expansion of DCB price range in closing auction
Circuit Breaker Rule (SCB Rule)
  • SCB will be triggered immediately after execution, etc. at the lowest price or the highest price of the price limit range for the central contract month of each product.
  • The base price for calculating the price limit range for equity index futures trading will be the reference price of the price limit range, and the price limit range will be set on a daily basis.
  • For crude oil products, SCB will be triggered immediately after execution, etc. at the lowest price or the highest price of the circuit breaker range for the central contract month.
Others
  • Introduction of Flexible Futures Trading
  • Introduction of New Products
  • Nikkei 225 Total Return Index Futures/Index Futures (Only Flexible Futures Trading)
  • CME Group Petroleum Index Futures
  • Revision to the Number of Contract Months for Crude Oil ProductsーIt will be changed from 6 to 15.

News

Date Contents Company
2021/7/28 Go-Live Date of J-GATE3.0 OSE・TOCOM
2020/12/22 Scheduled Go-Live Date of J-GATE3.0 OSE・TOCOM
2020/05/13 Revisions to Trading Rules in Connection with Launch of J-GATE3.0 OSE

TOCOM Website Closure Notice

TOCOM website will be shut down on 20th Sep.2021 due to the website integration.
The information on this website will transfer into the JPX website.
Details will be announced later.