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          An interest rate futures is a futures contract with an interest-bearing instrument as the underlying asset. Interest rate futures are used to hedge against the risk of interest rates moving in an adverse direction. For example, borrowers face the risk of interest rates rising. Futures use the inverse relationship between interest rates and bond prices to hedge against the risk of rising interest rates. A borrower will enter to sell a future today. Then if interest rates rise in the future, the value of the future will fall , and hence a profit can be made when closing out of the future. 6M THBFIX Futures launched since Nov 29, 2010.



Summary of 6M THBFIX Futures Contract Specification

  Heading    Contract Specification
  Underlying Asset 6M THBFIX  
  Ticker Symbol   TBF6  
  Contract Size THB 10,000,000  
  Contract Months 4 nearest quarter months on March June September December cycle  
  Price Quotation In terms of index 100.000 - Yield
(on annual basis with 3 decimal points)
 
  Minimum Price Fluctuations 0.005 (or THB250 per contract)  
  Price Limit Initial price limit is +1.25% from the latest settlement price. Should traded price reach the limit, trading will be halted for a certain period announced by TFEX. After trading resumes, the price limit will be expanded to +2.50% of the latest settlement price.  
  Trading Hours Pre-open: 
Morning session: 
Pre-open: 
Afternoon session:
09:15 - 09:45 hrs.
09:45 - 12:30 hrs.
13:45 - 14:15 hrs.
14:15 - 16:00 hrs.
 
  Speculative Position Limit Net 2,000 contracts of 6M THBFIX Futures on one side of the market in any contract month or all contract months combined.  
  Last Trading Day The third Wednesday of the contract month and the trading of expiring contract will be ceased after 11:00 hrs. on the last trading day  
Final Settlement Price Calculated from 6M THBFIX fixed at 11:00 hrs. (BKK time) on the last trading day (4 decimal points)  
  Settlement Method Cash Settlement  
  Exchange Fee THB 20 per contract per side

 
  Brokerage Commission Freely negotiable  
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  Remark :
     The above description is a summary of the contract specification. Please refer to the procedures of listing of Derivatives Contracts for the official contract specification.
 
     
     
  Quote Vendor Codes  
 
Interest Rate Futures Price:
Bloomberg Thomson Reuters Six Telekurs
    6M Thai Baht Fixed Futures
    TXBA<COMDTY>
    TBF6my
    0#TBF6:
    .TBF6TVO.FX
   TBF6myy,825
 
   
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