About CME JGB Futures

CME JGB futures give financial professionals a ready method for hedging their long-term Japanese government debt holdings and a way to cross-hedge yen-denominated corporate issues.

CME JGB futures are based on a ¥50,000,000 face value, 10-year Japanese government bond with a 6 percent coupon, which represents the majority of debt outstanding. The contract cash settles to the opening price of the Tokyo Stock Exchange 10-year JGB futures contract on its final day of trading. CME JGB futures have an all-or-none threshold of 100 contracts. The CME JGB contract moves in minimum price fluctuations of 0.01 (0.01 = 1,000 Yen) with trading months of March, June, September, December and five months in the March quarterly cycle (consistent with SIMEX).