• No : 10786
  • Updated Date : 2021/03/24 09:12
  • Modified on : 2023/01/19 10:30
  • Print

[J-GATE3.0]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

Settlement Price (SP) on the trading day will be a Reference Price (RP) on the next trading days in Futures and Options trading.
 
Hence, on the products having applied Theoretical Price (TP) as SP, Last Price (LP) does not always match the RP on the next trading day.
 
Please note that products having applied LP as SP are a few part of the whole, and many products have been applied TP as SP.
 
Although Nikkei 225 Futures and TOPIX Futures are one of the representative products which are applied LP as SP, the last business day on the every quarter has been applied TP as SP.
 
For the method of determining settlement prices of futures and options contracts, please refer to the “Method of Determining Settlement Prices of Futures and Options Contracts” linked below.
URL: https://www.jpx.co.jp/jscc/en/cash/futures/assumption-obligation/futuresclearing.html