JBATA has finalised the fallback provisions for cash products referencing JPY TIBOR or Euroyen TIBOR. The changes will take effect on 1 April.
March 22, 2023Mandatory clearing will be required for certain OTC transactions referencing ARRs rather than for those referencing IBORs that are being discontinued.
March 13, 2023TFX will launch 3-month TONA futures and related options contracts. The 6-month Euroyen LIBOR futures and O/N Call Rate futures contracts will be delisted.
February 1, 2023Osaka Exchange will launch three-month TONA futures on 29 May 2023, the same day as its launch of Nikkei 225 micro futures and Nikkei 225 mini options contracts.
October 24, 2022Mandatory clearing requirements will instead apply to interest rate swaps referencing SARON, TONA, €STR, SOFR and SORA.
August 16, 2022Only a small number of JPY LIBOR contracts remain that still need to complete the transition, but USD LIBOR rates are "still widely used" by Japanese FIs and corporates.
June 9, 2022The fallback procedure has been updated to allow publication based on Tokyo Swap Rate (for swaps referencing TONA) plus a spread adjustment.
February 5, 2022The Tokyo Swap Rate Fallback is based on a static spread adjustment and the Tokyo Swap Rate (for swaps referencing TONA), which was launched in October.
December 13, 2021The new versions of the Tokyo Swap Rate are designed to support the transition away from LIBOR and the adoption of new market conventions.
October 29, 2021Japan Securities Clearing Corporation will conduct a bulk conversion exercise during the weekend of 4–5 December to convert JPY LIBOR contracts to TONA contracts.
October 15, 2021