CME Group to Launch U.S. Dollar-denominated TOPIX Futures on November 21
CME Group announced the launch of U.S. dollar-denominated TOPIX futures on November 21, 2022, pending regulatory review. This cash-settled contract will complement the existing Yen-denominated TOPIX futures introduced in February 2018. The initiative aims to enhance access to Japan's key equity benchmark while minimizing FX risk for international investors. Tim McCourt, Global Head of Equity and FX Products, emphasized this as a strategic extension of their offerings, promoting higher liquidity and efficient price formation in the global market for TOPIX futures.
- Launch of U.S. dollar-denominated TOPIX futures enhances product offerings.
- Strategically complements existing Yen-denominated TOPIX futures.
- Expected to increase liquidity and price efficiency for global investors.
- None.
CHICAGO, Oct. 17, 2022 /PRNewswire/ -- CME Group, the world's leading derivatives marketplace, today announced it will expand its Tokyo Stock Price Index (TOPIX) futures offerings with the launch of U.S. dollar-denominated TOPIX futures on November 21, 2022, pending regulatory review.
This new contract will be cash-settled, designed to complement the existing Yen-denominated TOPIX futures contract launched in February 2018.
"The addition of U.S. dollar-denominated TOPIX futures represents a natural extension of our Japanese index offerings as we aim to become the primary international venue for trading Japanese equity benchmark products," said Tim McCourt, Global Head of Equity and FX Products, CME Group. "We are pleased to extend our partnership with JPX in launching this new product to provide our customers greater access to Japan's key benchmark, as well as carry that index exposure without FX risk, and have the opportunity to spread against other equity indices."
"With the launch of U.S. dollar-denominated TOPIX futures from CME Group, the world's leading derivatives market, in addition to the Yen-denominated product, investors of TOPIX futures around the world will be able to enjoy higher liquidity and more efficient price formation," said Miyahara Koichiro, President & CEO of JPX Market Innovation & Research, Inc. "This new product is just the latest example of how TOPIX is the benchmark for investing in Japanese stocks."
For more information on this product, please visit: www.cmegroup.com/topix.
CME Group also offers trading in futures and options products on various key benchmark equity indexes including Dow Jones, FTSE Russell, NASDAQ, 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 derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. The company offers futures and options on futures trading through the CME Globex platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform. In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing.
CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and, E-mini are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc. NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. BrokerTec and EBS are trademarks of BrokerTec Europe LTD and EBS Group LTD, respectively. Dow Jones, Dow Jones Industrial Average, S&P 500 and S&P are service and/or trademarks of Dow Jones Trademark Holdings LLC, Standard & Poor's Financial Services LLC and S&P/Dow Jones Indices LLC, as the case may be, and have been licensed for use by Chicago Mercantile Exchange Inc. All other trademarks are the property of their respective owners.
CME-G
View original content:https://www.prnewswire.com/news-releases/cme-group-to-launch-us-dollar-denominated-topix-futures-on-november-21-301651081.html
SOURCE CME Group
FAQ
What is the date for the launch of U.S. dollar-denominated TOPIX futures by CME?
How does the U.S. dollar-denominated TOPIX futures contract compare to the existing contracts?
What are the benefits of the new U.S. dollar-denominated TOPIX futures?
Who is the Global Head of Equity and FX Products at CME Group?
