Japan Exchange Group, Inc. · TSE:8697
Japan Exchange — Investor Day (July 2025)
14 slides from Japan Exchange's investor day presentation, Jul 1, 2025
Slide 1: Derivatives Market
JPX Investor Day 2025 Derivatives Market President & CEO, Osaka Exchange, Inc. Representative Director & Chair, Tokyo Commodity Exchange, Inc. Yokoyama Ryusuke July 1, 2025 © 2025 Japan Exchange Group, Inc., and/or its affiliates
Slide 2: Positioning of Each Initiative in the Medium-Term Management Plan 2027
Positioning of Each Initiative in the "Medium-Term Management Plan 2027" Equity Derivatives － Securities options, Nikkei 225 micro Futures, Nikkei 225 mini Options Interest Rate Derivatives － JGB Futures, STIR Futures Energy Derivatives － Electricity Futures Commodity － Gold, Shanghai Natural Rubber
Slide 3: Contents
Contents 1. Trends in the Derivatives Markets Overall 2. Individual Trends © 2025 Japan Exchange Group, Inc., and/or its affiliates 3
Slide 4: 1. Trends in the Derivatives Markets Overall
Contents 1. Trends in the Derivatives Markets Overall 2. Individual Trends © 2025 Japan Exchange Group, Inc., and/or its affiliates 4
Slide 5: Overview of Derivatives Market – Overall Trading Volume
Overview of Derivatives Market – Overall Trading Volume - ⚫ At the beginning of FY2024, the market continued to ride the wave of expansion from the previous fiscal year, but extreme fluctuations in the stock market in August 2024 caused some participants to exit the market or reduce trading activity
Slide 6: Recent Initiatives
Recent Initiatives ⚫ Listing of new products and introduction of new rules to meet the diverse needs of market participants Main Initiatives Since FY2023 May 2023 Listing of short-term interest rate futures (3-Month TONA Futures) (OSE) Listing of Nikkei 225 micro Futures/mini Options (OSE) Mar. 2024
Slide 7: 2. Individual Trends
Contents 1. Trends in the Derivatives Markets Overall 2. Individual Trends © 2025 Japan Exchange Group, Inc., and/or its affiliates 7
Slide 8: Trends in Securities Options (Single Stock Options)
Trends in Securities Options (Single Stock Options) ⚫ Single stock options (SSOs) linked to individual stocks have struggled in Japan despite an expansion trend globally, but factors such as increased interest in Japanese stocks underpinned by the new NISA have brought an opportunity for stimulation
Slide 9: Trends in Nikkei 225 micro Futures and mini Options
Trends in Nikkei 225 micro Futures and mini Options ⚫ Micro Futures and mini Options were listed in May 2023 to fulfil investor needs for small-lot trading. ⚫ Trading volume for micro Futures has steadily grown, with ADV exceeding 500,000 contracts since FY2024. Usage as an entry-level product for t
Slide 10: Trends in Interest Rate Derivatives
Trends in Interest Rate Derivatives ⚫ Attention is high to JPY interest rates due to changes in financial policy. Last year's trading volume for 10-year JGB Futures, the benchmark for long-term interest rates, was the highest since 2007 at 11.53 million contracts. ➢ The 10-year JGB Futures market wi
Slide 11: Trends in Commodity Futures (Gold/Rubber)
Trends in Commodity Futures (Gold/Rubber) Gold Standard Futures Rubber Futures ⚫ As the price of gold continues to break records, interest ⚫ OSE has listed cash-settled futures whose underlier from retail investors is holding at a high level. is the price of Natural Rubber Futures listed on the ⚫ Tr
Slide 12: Trends in Electricity Futures
Trends in Electricity Futures ⚫ As Japan is the world's fifth largest electricity consumer, even compared to other countries, there is huge potential in the energy futures market. ⚫ With a lack of reliable major FIs having been an issue, Mitsubishi UFJ Bank was the first to enter the market (Sept. 2
Slide 13: FX Futures Market (Planned Launch Apr. 13, 2026)
FX Futures Market (Planned Launch Apr. 13, 2026) ⚫ JPX's derivative markets have a high ratio of overseas investors, and there is demand for same- platform hedging of yen exposure from investors who trade Nikkei 225 Futures and Gold Futures. ➢ We have confirmed strong demand from investors (hedge fu
Slide 14: Disclaimer
Disclaimer - This English version is not an official translation of the original Japanese materials. In cases where any differences occur between the English version and the original Japanese version, the Japanese version shall prevail. Japan Exchange Group, Inc. (JPX) and its subsidiaries, includin