Outline for Block trade Schemes
February 3, 2014
Revised March 20, 2023
Revised January 4 2024
Item
1. Block trade(1) Definition(2) Mechanism(A) Trading
Method(B) Application
MethodDescription

Remarks A ‘block trade’ is a trade, executed not based on the auction method, in which the corresponding
sales and purchase contracts of both outright are made simultaneously for a specific contract monthor series in the volume larger than the amount designated by TFX.

 A block trade can be made by one
Trading Member covering thecorresponding sales and purchase
contracts, or by two bilateral Trading
Members.

 A block trade will be executed when TFX approves an order for the block trade submitted by aTrading Member to TFX.
 For applying a block trade, the following items must be input:(i) Contract(s) (including the contract month or series)(ii) Price(iii) Volume(iv) Proprietary or customer account (for each of the purchase and sales contracts)(v) Counterparty Trading Member (if the block trade is executed between different two TradingMembers)(vi) Other items as may be deemed necessary by TFX
 Block trades once applied cannot be revised nor cancelled.

(C) Timefor  A block trades can be applied at any time during the day and evening sessions, except for the last 15
application
minutes before the end of each session.

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 Block trades must be applied via theMember’s terminal devices.
 For a block trade between two Trading
Members, one of them will apply suchblock trade (wherein the counterparty
Trading Member must be specified) andupon approval by TFX, the counterparty
Member will advise its confirmation ofsuch block trade to TFX.
 Any block trade applied outside of theaforesaid time will be rejected.

ItemDescription

Three-month TONA futures
Three-month TONA futures option contracts
Three-month Euroyen futures

Remarks

Normal day
8:45-11:30
12:30-15:15
15:30-19:45

Contract month on its last trading day
Evening session: same as normal day
Day session: 8:45-9:15
Evening session: same as normal day
Day session: 8:45-10:45(D) Applicable
Contract A block trade is applicable to Three-month TONA futures, Three-month TONA futures option
contracts any Three-month Euroyen futures.

(E) Minimum
Volume The minimum volume for a block trade is as set out in the table below.
Three-month TONA futures
Three-month TONA futures option contracts
Three-month Euroyen futures

111(F) ApplicablePrice A block trade is applicable at the fair and reasonable price on the basis of the market situation in TFX
at the time of application.

(G) ApprovalandExecution

 TFX will approve the execution of the block trade when the applied volume and price satisfy theprescribed conditions.

(H) TimeofExecution

 A block trade will be executed at the time when its application is approved by TFX.

 The trading date of a block trade will berecognized based on the time ofapproval.

(I) Notification

 After approval of the applied block trade, TFX will notify the applying Trading Member of thedetails of the trade (time of execution, etc.).

 Such notification will be sent via theMember’s terminal devices.

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Item

Description

Remarks(J) Suspension

 TFX may suspend any block trade when it deems necessary.

(3) Give-up

 A give-up facility is applicable also to the contracts executed by block trades.

(4) Per-contract
Exchange Feeand Clearing
Deposit Per-contract exchange fee and the clearing deposit for the contracts executed by block trades aresame as those for the Interest Rate Futures contracts executed based on the auction method in themarket.

(5) Open Interest

 Open interests of the Interest Rate Futures contracts executed by block trades are treated similarly toopen interests of Interest Rate Futures contracts executed based on the auction method.

(6) Other Ruling The rules on an auction basis Interest Rate Futures contracts are applied to the other necessary
particulars of the Interest Rate Futures contracts made by block trades.

(7) Publication ofBlock Trades(A) TradedPriceandVolume

 TFX will publish the traded price and volume of each Interest Rate Futures contracts made by blocktrades.
 TFX will publish the open/high/low/close prices and the aggregated volume for each contract monthor series of the Interest Rate Futures contracts made by block trades on each business day.

 Such contents will be published on amessage field displayed on theMember’s terminal devices.
 Such information will be published inthe TFX Daily Statistics Reports.

(B) Open TFX will publish the total volume of open interest of the Interest Rate Futures contracts made byInterest
block trades, together with the open interest on an auction basis, for each contract month or series.
 The originals of this outline of rules have been prepared in the Japanese language only and the Japanese language texts shall govern for all purposes and in all respects.
Accordingly, all questions that may arise within or without courts of law in regard to the meaning of the words, provisions and stipulations of the rules, regulations andagreements shall be decided in accordance with the Japanese language texts. Whilst reasonable care has been taken to ensure that these translations are accurate and freefrom errors, no liability is accepted by TFX in any circumstances.

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