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  • No : 5118
  • Updated Date : 2018/09/18 17:06
  • Modified on : 2019/06/24 14:28
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[J-GATE]Is there any case where the value of Last Price (LP) and Reference Price (RP) are different?

Is there any case where the value of Last Price (LP) and Reference Price (RP) are different?? 
Category : 

Answer

Regarding Future and Option trading, a settlement price (SP) on the trading day is a reference price on the next trading days.

Products having applied LP as SP are a few part of the whole; many products have been applied Theoretical Price (TP) as SP. 

Hence, based on the products having applied TP as SP, LP does not always match the RP on the next trading day.

Although Nikkei 225 Future and TOPIX future are one of the representative products having applied LP as SP,

According to these products, the last business day on the every quarter has been applied TP as SP.

Please see the link below for the method of determining settlement prices of futures and options contracts. 

https://www.jpx.co.jp/jscc/en/cash/futures/assumption-obligation/cimhll0000000g4r-att/MethodofDeterminingSettlementPrice_E.pdf

 

 

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