A full picture has now emerged of the shape and structure of the future derivatives market in Japan. The derivatives market integration between Tokyo Stock Exchange (TSE) and Osaka Securities Exchange (OSE) – merged at the beginning of the year to create the Japan Exchange Group – has been scheduled for Monday, 24 March 2014.
It has been confirmed that the TSE derivatives market will be integrated into that of OSE. Trading in the new derivatives market will be conducted on the OSE’s J-GATE trading system.
OSE will make revisions to its trading and participant rules so that futures and options contracts currently listed on the TSE market are listed on OSE upon integration, and TSE will abolish its corresponding rules regarding futures and options trading.
In addition, trading and other rules regarding exchange foreign exchange margin trading will remain unchanged from existing OSE rules.
As we reported at the end of last month, 20-year JGB Futures will be resumed on 7 April 2014 and CNX Nifty Futures will be introduced on March 24, 2014.