.png){kind=logo}
%20Futures.png)
SGX Three-Month Tokyo Overnight Average Rate (TONA) Futures
Transparent, capital-efficient hedging of Japanese short-term interest rate risk with improved price discovery and liquidity
Three-month TONA Futures are short-term interest rate (STIR) futures that enable market participants to hedge and manage exposure to Japanese yen interest rate movements in a transparent, exchange-traded market at a single price point. The futures will provide capital efficient access to improve price discovery and liquidity in the Singapore Dollar (SGD) interest rates market.
Key Benefits
- Increased Market Transparency:
- Electronic central limit order book provides transparent price discovery
- Fulfils best execution requirements and reduces search costs for all participants
- Enhanced Capital Efficiency:
- Maximise capital efficiency through the ability to manage exposures across multiple asset classes within the same clearing house
- Benefit from unique margin offsets offered between correlated asset classes
Source: SGX Group
This advertisement has not been reviewed by the Monetary Authority of Singapore.
