Contract Unit. The Contract Unit of a Margin FX Contract will be the quantity of the Underlying Instrument in counter currency as specified in the Product Schedule available on the Trading Platform and updated from time to time.
Contract Unit. The Contract Unit of a CFD will be the quantity of the Underlying Instrument in Base Currency as specified on the Trading Platform. This information may be updated from time to time.
Contract Unit. The Contract Unit of a Commodity CFD will be 1SI unit (e.g. one ounce, pound or barrel) according to the custom of the relevant market and we quote prices in the customary currency of the relevant market per unit. If, in accordance with the custom of the relevant market, prices for a commodity are quoted in different currencies in different markets, you may request us to quote a price for the Commodity CFD in any of the customary currencies.
Contract Unit. Enter address of unit, including apartment number, if any.
Contract Unit. The Contract Unit of a Bullion CFD will be one ounce of the relevant metal (gold or silver) and we quote prices in the customary currency of the relevant market per ounce.
Contract Unit. The Contract Unit of an Index Futures CFD will be the points total of the relevant Equity Index Futures Contract and our quoted prices in the relevant currency of the Equity Index Futures Contract at the relevant currency amount per index point (as specified in our PDS).
Contract Unit of a Foreign Exchange Contract will be one currency unit of the primary reference currency.
Contract Unit. The Contract Unit of a Bullion Contract will be one ounce of the relevant metal (gold, silver, palladium or platinum) and we quote prices in the customary currency of the relevant market per ounce.
Contract Unit. The Contract Unit of a CFD will be one currency unit of the primary reference currency, one ounce of precious metal, or one of such other reference unit of the Underlying Asset (as determined by us from time to time).
Contract Unit. The contract size of a single JGB Futures contract is JPY 100 million, suggesting that buying or selling one unit of JGB Futures contacts is equivalent to holding long or short position amounts to JPY 100 million worth of JGB Futures. This amount of JPY 100 million is referred to as “notional contract value (or notional amount).” As shown in Figure 3, the current average daily trading volume of 10-year JGB Futures is about 40,000 contracts or JPY 4 trillion on a contract notional value basis. 4 For more details about the itayose method, refer to JPX’s website from the link below. xxxxx://xxx.xxx.xx.xx/english/derivatives/rules/trading-methods/index.html Futures margin To buy one unit of JGB Futures, equivalent to the notional amount of JPY 100 million, investors do not need to prepare JPY 100 million. Instead, investors only need to pay the futures margin required, calculated according to their positions. Futures margins are measured by a calculation methodology called SPAN®, or the Standard Portfolio Analysis of Risk, and its fundamental objective is to cover future losses arising from current positions by using the expected price volatility (implied volatility) of the futures contracts.5 Suppose a futures margin of JPY 1 million is required to buy one JGB Futures contract. In this case, an investor can take the position of JPY 100 million in terms of the notional value of JGB Futures with collateral of JPY 1 million. This suggests that the investor can trade with 100 times leverage (100 million/1 million) using JGB Futures. Since the futures margin is calculated based on parameters such as expected price volatility, the level of leverage depends on the market conditions at that time. Note that the futures margin measured by SPAN® is the minimum required amount between a CCP and a trading participant, and investors can reduce the level of leverage by increasing the deposited futures margin amount. Contract months and a final settlement date for delivery The month in which futures contracts expire is called the contract month. The delivery date for JGB Futures is the 20th day of each contract month (or if it falls on a business holiday, the following day), and the last trading date of the contract month is the 5th business day prior to the delivery date. As mentioned above, JGB Futures have quarterly contract months in March, June, September, and December, and the contracts of the upcoming three can be traded. For example, as of January 2021, the listed co...
