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Revisionto Method forCalculatingFinal Settlement Pricefor Nikkei 225 VI Futures December 16, 2022 Osaka Exchange, Inc. I. Purpose Osaka Exchange, Inc. (OSE) currently calculates the final settlement price of Nikkei Stock Average Volatility Index Futures (Nikkei 225 VI Futures) as a distinctive value in accordance with the formula of the Nikkei Stock Average Volatility Index (Nikkei 225 VI) using the opening prices of Nikkei 225 Futures and Optionswithin 10 minutes from the start of the day session. However, in consideration of the current trading conditions of Nikkei 225 Options, OSE hasdecided torevisethe calculation methodologyto givethe final settlement pricea higher level of stabilityand a clear linkagetothe Nikkei 225 VI. II. Outline Item Description Remarks Revision of Calculation Method of Final Settlement Price ・The final settlement price will be the average value of the Nikkei 225VI over the30 minutes starting from9:00 a.m. on the day following the day on which the ...

Scope of Cross Margining Users - Same as Current Cross Margining Framework Case #1 Case #2 Case #4 Case #3 A A IRS Futures A B A B A B IRS B Futures B A A IRS Futures IRS Futures Clearing Participant A B A’ B IRS Futures Cross Margining Cross Margining Cross Margining Cross Margining Cross Margining Cases Where Cross Margining is Available ➢Cross margining is available only for positions held by the same entity. ➢For a Customer’s position under Case #4 below, cross margining is available on condition that the Clearing Participants and the JGB Futures Clearing Participant are in the same corporate group. Cases Where Cross Margining is Not Available ×Cross margining is not available for positions between different entities. (Unavailable Case I). ×Cross margining request via a Clearing Participant not in the same corporate group (Participant C in the chart on the left) is not allowed. (...

This English translation is solely for reference purpose only and not a legally definitive translation of the original Japanese text. In the event a difference arises regarding the meaning herein, the original Japanese version will prevail as the official authoritative version. 1 Partial Revision of OSE's Rules in Connection with the Expansion of Trading That Is Eligible for Cross Margining at JSCC As of November 2, 2023 Osaka Exchange , I nc I. Purpose Japan Securities Clearing Corporation (JSCC) is planning to add the trading of Interest Rate Futures (3-Month TONA Futures) to the trading that is eligible for Cross Margining, a system to reduce the collateral burden of clearing participants and others by offsetting the risk of the trading of interest rate swaps (IRS) and Japanese Government Bond (JGB) Futures. In response to this, Osaka Exchange, Inc. (OSE) will partially revise its Clearing and Settlement Regulations, Agreement for ...

Reference Translation DISCLAIMER: This translation may be used for reference purposes only. This English version is not an official translation of the original Japanese version. Certain parts of the translation may have been edited to accommodate differences in writing style and expression between English and Japanese. In cases where any differences including, but not limited to, those differences above occur between the English version and the original Japanese version, the Japanese version shall prevail. This translation is subject to change without notice. Tokyo Stock Exchange, Inc., Japan Exchange Regulation, Japan Exchange Group, Inc., and/or their affiliates shall individually or jointly accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or changes with regard to this translation. Guidelines Concerning Designation of Issues Subject to Daily Publication, etc. Tokyo Stock Exchange, Inc. (hereinafter referred to as "the Exchange") shall establish guidelines concerning the designation of ...

Reference Translation DISCLAIMER: This translation may be used for reference purposes only. This English version is not an official translation of the original Japanese version. Certain parts of the translation may have been edited to accommodate differences in writing style and expression between English and Japanese. In cases where any differences including, but not limited to, those differences above occur between the English version and the original Japanese version, the Japanese version shall prevail. This translation is subject to change without notice. Tokyo Stock Exchange, Inc., Japan Exchange Regulation, Japan Exchange Group, Inc., and/or their affiliates shall individually or jointly accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or changes with regard to this translation. Guidelines Concerning Measures to Raise the Security Deposit Ratio, etc. Tokyo Stock Exchange, Inc. (hereinafter referred to as "the Exchange") shall implement measures to raise the security ...

信用取引口座設定約諾書私は、信用取引制度の特徴及び仕組み等に関し、貴社から受けた説明の内容を十分把握し、私の判断と責任において信用取引を行います。 つきましては、貴社に信用取引口座を設定するに際し、金融商品取引法（昭和２３年法律第２５号。 以下「法」という。 ）その他の法令、信用取引に係る売買を執行する取引所金融商品市場を開設する金融...

Agreement for Setting up Margin Transaction Account I/We hereby acknowledge that I/we have received and fully understood the explanation provided by your company regarding the margin transaction system including its characteristics and mechanisms, and will conduct margin transaction on my/our own judgment and responsibility. In setting up a Margin Transaction Account in your company, I/we agree to abide by the matters provided in each of the following articles hereof, as well as the provisions of the Financial Instruments and Exchange Act (Act No. 25 of 1948; hereinafter referred to as the“Act”) and laws and regulations, any provisions related to the conditions of margin transactions prescribed in the Brokerage Agreement Standards (Jutaku Keiyaku Junsoku), the Articles of Incorporation (Teikan), the Business Regulations (Gyoumu Kitei), other rules, decisions, and practices of the financial instruments exchange which establishes the financial instruments exchange market where transactions pertaining to margin ...

発行日決済取引の委託についての約諾書私は貴社に発行日決済取引を委託するに際し、法令、その発行日決済取引を執行する金融商品取引所（以下「当該取引所」という。 ）の受託契約準則、定款、業務規程、その他諸規則、決定事項及び慣行中、発行日決済取引の条件に関連する条項に従うとともに、次の各条に掲げる事項を承諾し、これを証するため、この約諾書...

Agreement for Setting up Margin Transaction Account I/We hereby acknowledge that I/we have received and fully understood the explanation provided by your company regarding the margin transaction system including its characteristics and mechanisms, and will conduct margin transaction on my/our own judgment and responsibility. In setting up a Margin Transaction Account in your company, I/we agree to abide by the matters provided in each of the following articles hereof, as well as the provisions of the Financial Instruments and Exchange Act (Act No. 25 of 1948; hereinafter referred to as the“Act”) and laws and regulations, any provisions related to the conditions of margin transactions prescribed in the Brokerage Agreement Standards (Jutaku Keiyaku Junsoku), the Articles of Incorporation (Teikan), the Business Regulations (Gyoumu Kitei), other rules, decisions, and practices of the financial instruments exchange which establishes the financial instruments exchange market where transactions pertaining to margin ...

1 Agreement for Setting up Futures/Options Trading Account I/We fully understand the explanation your company has given me/us regarding the features, mechanism of the system and other relevant matters of exchange derivatives transactions (excluding those related to currencies) for which Japan Securities Clearing Corporation (hereinafter referred to as "JSCC") provides Financial Instruments Obligation Assumption Services as a Financial Instruments Clearing Organization (hereinafter collectively referred to as "Futures/Options Trading"), and I/we will entrust Futures/Options Trading with your company on my/our own judgment and responsibility. In setting up a Futures/Options Trading Account (hereinafter referred to as the "Account") with your company, I/we hereby agree to abide by provisions related to conditions for Futures/Options Trading, out of the Financial Instruments and Exchange Act (Act No. 25 of 1948, hereinafter referred to as the "Act" and other laws and regulations; the Articles of Incorporation (...