Three Phase Price Limit for TOPIX Futures
Introduction |
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The current daily price limit on TOPIX Futures is ±16% of the previous trading day’s settlement price. This single price limit differs from the three phase daily price limits (±8%, ±12%, and ±16%) used by the Japan Exchange Group for its TOPIX Futures. In consideration of the relatively large price range in which TOPIX Futures trade and to minimize overreactions by the market, in June 2016 TAIFEX introduced a three phase daily price limit (±8%, ±12%, and ±16%) on its TOPIX Futures. This three phase daily price limit functions as follows: |
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