Tokyo Financial Exchange Bitcoin: A comprehensive analysis156

The Tokyo Financial Exchange (TFX) is Japan's largest futures and options exchange. It launched Bitcoin futures trading in March 2022, making it the first major regulated exchange in Asia to offer such a product. This article will provide a comprehensive overview of TFX Bitcoin futures, including the contract specifications, trading hours, and market data.## Contract specifications

TFX Bitcoin futures contracts are cash-settled contracts based on the CME CF Bitcoin Reference Rate (BRR). The contract size is 1 BTC, and the minimum price fluctuation is 10,000 yen.

The following table summarizes the key contract specifications:| Contract | Symbol | Contract size | Minimum price fluctuation | Trading hours |
|---|---|---|---|---|
| Bitcoin Futures | BTCUSD | 1 BTC | 10,000 yen | 9:00 AM - 3:00 PM JST |
## Trading hours

TFX Bitcoin futures trade from 9:00 AM to 3:00 PM JST (Japan Standard Time), with a one-hour lunch break from 11:30 AM to 12:30 PM JST. The exchange is closed on weekends and Japanese national holidays.## Market data

Market data for TFX Bitcoin futures is available on the TFX website and through various financial data providers. The following table shows the key market data for BTCUSD as of March 5, 2023:| Data | Value |
|---|---|
| Last price | 6,000,000 yen |
| Bid price | 5,990,000 yen |
| Ask price | 6,010,000 yen |
| Volume | 1,000 BTC |
| Open interest | 5,000 BTC |
## Fees

TFX charges a trading fee of 0.05% per contract side. There is also a clearing fee of 0.005% per contract side. The exchange does not charge any storage or platform fees.## Conclusion

TFX Bitcoin futures offer a convenient and regulated way to trade Bitcoin in Japan. The contracts are cash-settled and based on the CME CF Bitcoin Reference Rate, which is a widely accepted benchmark for Bitcoin pricing. TFX Bitcoin futures are traded during regular market hours and are available to both institutional and retail investors.

2025-02-21

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