24-hour Topix. (International News).(Brief Article)

Futures (Cedar Falls, Iowa), April, 2002

United States-based money managers who want to hedge the Japanese equity market won't have to stay up late to do it, thanks to a recent agreement between the CME and the Tokyo Stock Exchange (TSE). The S&P/Topix 150 will trade on the CME's Globex electronic trading platform during the hours it is not available on the TSE.

The stock index futures contract, which was introduced in June 2001, is a broad-based composite index consisting of the most highly capitalized and liquid Japanese stocks. It's designed to mirror the Japanese stock market much the same way that the S&P 500 mirrors the U.S. market, according to Elliott Shurgin, vice president of index services for Standard & Poor's.

"We have had interest from clients for a yen-based Japanese equity...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.