We are pleased to inform you that "Operational Procedures for Setting SPAN Parameters related to Financial Derivatives" has been revised in line with the review of trading rule to 20-year Japanese Government Bond Futures to go live on April 4, 2022 at OSE as shown in the attached material.
Also, we are pleased to inform you that "Operational Procedures for Setting SPAN Parameters related to Commodity Derivatives" has been revised in line with the launch of LNG (PLATTS JKM) Futures and 24 contract months extension for Electricity Futures on same day at TOCOM as shown in the attached material.
1. Span Parameters etc. related to 20-year Japanese Government Bond Futures
Due to the change in the contract unit of 20-year Japanese Government Bond Futures, the multiplier for the relevant product will be changed. In addition, the wording will be revised due to the change in contract names related to JGB Futures Contracts.
2. Span Parameters related to LNG (PLATTS JKM) Futures
Based on the product characteristics of LNG (PLATTS JKM) Futures trading, the setting method will be based on the SPAN parameters setting method for CME Group Petroleum Index Futures trading.
3. Span Parameters related to Electricity Futures
With the transition from the 15 contract months system to the 24 contract months system, Delivery Monthly Charge will be set to the latest 12 contract months (previously the latest 3 contract months) so that the margin amount can be set for each contract month.
Note: In the "SPAN parameter (Excel File)" posted on our website, the target of Delivery Monthly Charge will be changed to the latest 12 contract months from the application on April 11th (Monday) posted on April 8th (Friday).
