TOPIX Futures Trading on NYSE Liffe will be Extended to Cover Asian Hours
Tokyo Stock Exchange, Inc. (“TSE”) announced July 2 that the trading hours of TOPIX futures listed on the NYSE Liffe market will be extended to cover the Asian and Japanese hours on and from Monday 30 July 2012.
The extended trading hours will be from 1AM to 9PM London time, which is from 9AM to 5AM* in Tokyo (JST) during the summer only (British daylight savings time) and from 10AM to 6AM* in Tokyo (JST). *Denotes time on the following day (Current trading hours on NYSE Liffe are from 7AM to 9PM (summer only) / 6AM to 9PM.)
With the extension of TOPIX futures trading hours on NYSE Liffe, the overlap in trading hours between the NYSE Liffe and the TSE markets will be more than 12 hours, bringing new arbitrage opportunities to both markets and further improving the convenience of the NYSE Liffe market.
TOPIX futures are Japanese stock price index futures listed on TSE. Average daily trading volume in 2011 was 59,625 contracts. Its underlying index, TOPIX, is widely used as the benchmark for Japanese stock investment. NYSE Liffe and TSE collaborated to introduce a position transfer arrangement in 2010, enabling the transfer of open positions on NYSE Liffe to TSE on every trading day.