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Description

ICE Three Month Tona® Index Futures is a cash settled future based on the 3 Month TONA®

Market Specifications

Trading Screen Product Name

ICE Three Month TONA Indexed Futures

Trading Screen Hub Name

ICEU

Contract Symbol

TOJ

Underlying Index

TONA (Tokyo Overnight Average Rate)

Contract

JOY 160,000,000

Currency

Japanese YEN

Delivery Month

March, June, September, December such the 21 delivery months are available for trading.

Contract Delivery Months are named by the start date of the accrual period.

Quotation

100.00 minus the numerical value of the rate of interest

Unit of Trading

JPY 400,000 * Rate Index

Last Trading Day

One business day prior to the third Wednesday of the third calendar month after the start of the accrual period.

Trading will cease at 18:00am (Japanese Time)

Minimum Price Fluctuation

All delivery months: 0.00200 (SEK 62.50)

Interest Rate Basis

Act/360 Fixed

Wholesale Trade Types

Basis trading, Block Trading, Asset Allocation

Contract Standard

Cash settlement based on the Exchange Delivery Settlement Price.

Exchange Delivery Settlement Price

LTD+1
Overnight rate compounded in arrears over the Three-month accrual period.

Disclaimer

The contracts have a standardized basis point value so that, for hedging purposes, a calculation will need to be made in relation to the hedge ratio to take into account any mismatch between the standardized basis point value and the actual basis point value of the position being hedged, determined by the actual number of days in the accrual period.

MIC Code

IFLL

Clearing Venues

ICEU

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Trading Hours

Codes