The Euroyen TIBOR futures contract is based on Euroyen – deposits of Japanese yen in commercial banks outside of Japan. It enables you to custom-tailor hedges in the Japanese short-term interest rate markets with the least amount of basis risk. It settles to the TIBOR (Tokyo Interbank Offered Rate), and is eligible for Mutual Offset (MOS) with the Singapore Exchange (SGX).

Euroyen TIBOR futures provide a way to:

• Hedge short-term risks on interest rate fluctuations in Euroyen
• Hedge Euroyen-based loans, swaps and deposits
• Hedge long-term forward foreign exchange exposure in yen
• Spread against other financial products, such as Eurodollar futures and options
• Create synthetic assets and liabilities via "strip" trading

Things to know:

• Contracts trade electronically on the CME Globex platform
  • Virtually around the clock, around the world
  • Complete price transparency and anonymity
• Also traded side-by-side on the CME Group trading floor during open outcry trading hours