CME Group Inc. and Japan Exchange Group Inc. have signed a license agreement under which CME Group will have a worldwide exclusive license outside of Japan to the TOPIX Index for use as a reference rate in listed yen-denominated futures and options on futures.
The TOPIX is a free-float adjusted market capitalization-weighted index that is calculated based on all common stocks listed on the First Section of Tokyo Stock Exchange, the cash market of Japan Exchange Group.
CME Group and Japan Exchange Group will also work together on marketing activities to provide availability of telecommunications providers who offer connectivity services to customers of each exchange's co-location facilities.
Following the signing of the agreement, the two companies have launched yen-denominated Tokyo Stock Price Index futures contracts to begin trading on CME Globex by the first quarter of 2018, pending all relevant regulatory review periods. The futures contract will be listed with and subject to the rules and regulations of CME.