CHICAGO, Oct. 18, 2017 /PRNewswire/ -- CME Group, the
world's leading and most diverse derivatives marketplace, and Japan
Exchange Group (JPX), Asia's
leading comprehensive exchange group, today announced the launch of
Japanese Yen-denominated Tokyo Stock Price Index (TOPIX) futures
contracts to begin trading on CME Globex by Q1 2018, pending
all relevant regulatory review periods.
This new financially-settled TOPIX futures contract will be
listed with and subject to the rules and regulations of CME.
The TOPIX is a free-float adjusted market capitalization-weighted
index that is calculated based on all common stocks listed on the
First Section of Tokyo Stock Exchange (TSE), the cash market of
JPX, and is widely used as a benchmark by institutional investors
in Japan.
The launch of this TOPIX futures contract follows the license
agreement which CME Group and JPX today concluded and signed.
Under the agreement, CME Group will have a worldwide exclusive
license outside of Japan to the
TOPIX Index for use as a reference rate in listed Japanese
Yen-denominated futures and options on futures.
The addition of this TOPIX futures contract to CME Group's
existing suite of Nikkei futures including Yen- and US
Dollar-denominated Nikkei 225 Index Futures, and E-mini Nikkei
225 Yen-denominated Futures, makes
CME Group the only derivatives marketplace outside of Japan to offer futures contracts based on the
two main Japanese indices.
CME Group has also entered into collaboration with JPX on
promoting connectivity between their respective co-location
facilities located in Aurora, IL
and Tokyo. Both companies will engage in marketing activities
to provide awareness and availability of the telecommunication
providers who offer connectivity services to customers of each
Exchange's co-location facilities.
"Our collaboration with JPX on various initiatives has
significantly strengthened our product and service offerings to
better address and serve customer needs," said Terry Duffy, Chairman and Chief Executive
Officer, CME Group. "This new TOPIX futures contract in
particular, will provide a risk management tool to international
investors who are looking to participate in the growth of the
Japanese economy and hedging opportunities in relation to the
Japanese equity markets."
"We look forward to a fruitful relationship in growing our
markets together with CME Group through a wide range of
collaborative activities with CME Group and in particular, raising
the awareness of TOPIX globally, and driving the use of TOPIX as a
benchmark by global investors especially in North America," said Akira Kiyota, Group CEO, JPX. "TOPIX
futures listed on Osaka Exchange (OSE), the derivatives market of
JPX, is already widely used as a hedging tool by Japanese
institutional investors. With the launch of TOPIX futures on
CME Globex and the promotion of connectivity services between our
co-location facilities, we are confident that we will better serve
the needs of international investors, helping them realize smoother
and more efficient price formations on more active markets."
CME Group also offers trading in futures and options products on
various key benchmark equity indexes including Dow Jones, FTSE,
NASDAQ, Russell, and Standard & Poor's. For more information on
CME Group's Equity Index Futures products, please visit:
www.cmegroup.com/equities.
About CME
Group
As the world's leading and most diverse derivatives marketplace,
CME Group (www.cmegroup.com) is where the world comes to manage
risk. CME Group exchanges offer the widest range of global
benchmark products across all major asset classes, including
futures and options based on interest rates, equity indexes,
foreign exchange, energy, agricultural products and metals.
Around the world, CME Group brings buyers and sellers together
through its CME Globex® electronic trading platform and its
exchanges based in Chicago,
New York and London. CME
Group also operates one of the world's leading central counterparty
clearing providers through CME Clearing and CME Clearing Europe,
which offer clearing and settlement services across asset classes
for exchange-traded and over-the-counter derivatives. CME
Group's products and services ensure that businesses around the
world can effectively manage risk and achieve growth.
CME Group is a trademark of CME Group Inc. The Globe Logo, CME,
Globex and Chicago Mercantile Exchange are trademarks of Chicago
Mercantile Exchange Inc. CBOT and the Chicago Board of Trade are trademarks of the
Board of Trade of the City of
Chicago, Inc. NYMEX, New York Mercantile Exchange and
ClearPort are registered trademarks of New York Mercantile
Exchange, Inc. COMEX is a trademark of Commodity Exchange,
Inc. All other trademarks are the property of their
respective owners. Further information about CME Group
(NASDAQ: CME) and its products can be found at
www.cmegroup.com.
About JPX
JPX, the Asia's leading
comprehensive exchange group, is integrated market infrastructure,
with its business domain covering cash and derivatives market
operation, self-regulation, and clearing Tokyo Stock Exchange
(TSE), the Asia's largest cash
equities exchange, is home to more than 3,500 companies and a wide
variety of ETP and REIT products, and Osaka Exchange (OSE), the
derivatives arm of the group, provides trading opportunities for
Japanese derivatives such as Nikkei 225 futures, TOPIX futures, and
JGB futures. In addition to efficient, stable and transparent
market mechanisms, self-regulation at Japan Exchange Regulation and
CCP functions provided by Japan Securities Clearing Corporation
also contribute to trust and confidence in its robust and reliable
market infrastructure. JPX will drive market development and
continue to diversify its business portfolio as it pursues the next
step forward towards becoming "Your Exchange of your Choice". For
further information, please visit our website:
http://www.jpx.co.jp/english/.
CME - G
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SOURCE CME Group