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SGX Three-Month Tokyo Overnight Average Rate (TONA) Futures
futures contract specifications
Product Type |
SGX Three-Month Tokyo Overnight Average Rate (TONA) Futures | |
Product Category |
Interest Rate | |
| Ticker Symbol | TONA | |
Contract Size |
JPY 250,000 x (100 – Three-month compounded TONA) | |
Minimum Price Fluctuation |
0.0025 | |
Contract Months |
Nearest quarterly months (March, June, September, December) for the nearest 20 quarterly months | |
| Tick Value | JPY 625 | |
| Trading Hours (Singapore Time) |
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|
Trading Hours on Last Hour |
7:25am – 8:30am | |
| Last Trading Day | The third Wednesday of the immediate subsequent quarter (beginning in March, June, September or December) following the contract month. If such day is not a Japan Bank Business Day, the Last Trading Day shall instead be the immediate following Japan Bank Business Day. | |
| Daily Price Limits | N.A. |
|
| Settlement Basis | Cash settlement | |
| Final Settlement Price | 100 minus the annualised rate (R) (R is rounded to 4 decimal places), which is calculated by multiplying the interest rate calculated by daily cumulative compounding of final TONA for each Japan Bank Business Day in the Interest Rate Reference Period for the relevant contract month by (365 / actual number of calendar days in the Interest Rate Reference Period). Note: For each day which is not a Japan Bank Business Day, the final TONA value for the preceding Business Day will apply without compounding. Interest Rate Reference Period: From the third Wednesday of each contract month (March, June, September, December) to the Tuesday preceding the third Wednesday of the subsequent quarter (beginning in June, September, December or March). The Interest Rate Reference Period will not be moved up or down even if the start or end date is a not a Japan Bank Business Day. |
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| Position Accountability / Position Limit | Position limit is not applicable to this contract. However, a person owning or controlling more than 5,000 contracts net long or net short in all contract months combined, or such position as the Exchange may prescribe from time to time with prior notification, shall provide, in a timely fashion, upon request by the Exchange, information regarding the nature of the position, trading strategy, and hedging information if applicable. | |
| Negotiated Large Trade | Minimum 5 lots | |
| Bloomberg Ticker Code | TOOA COMB Comdty | |
| Refinitiv Ticker Code | <0#STON:> | |
