CME Group, the world’s leading derivatives marketplace, today announced it will expand its Tokyo Stock Price Index (TOPIX) futures offerings with the launch of U.S. dollar-denominated TOPIX futures on November 21, 2022, pending regulatory review.

This new contract will be cash-settled, designed to complement the existing Yen-denominated TOPIX futures contract launched in February 2018.

Coming Nov. 21: USD-denominated TOPIX futures offer global investors an additional way to capture benchmark Japanese equity exposure, complementing the existing Yen-denominated contract. https://t.co/jHsUz5KKaF pic.twitter.com/GqtgGM8p2E

— CME Group (@CMEGroup) October 17, 2022

“The addition of U.S. dollar-denominated TOPIX futures represents a natural extension of our Japanese index offerings as we aim to become the primary international venue for trading Japanese equity benchmark products,” said Tim McCourt, Global Head of Equity and FX Products, CME Group. “We are pleased to extend our partnership with JPX in launching this new product to provide our customers greater access to Japan’s key benchmark, as well as carry that index exposure without FX risk, and have the opportunity to spread against other equity indices.”

“With the launch of U.S. dollar-denominated TOPIX futures from CME Group, the world’s leading derivatives market, in addition to the Yen-denominated product, investors of TOPIX futures around the world will be able to enjoy higher liquidity and more efficient price formation,” said Miyahara Koichiro, President & CEO of JPX Market Innovation & Research, Inc. “This new product is just the latest example of how TOPIX is the benchmark for investing in Japanese stocks.”