The JPYBasket (“Yen Index”) is a Japanese Yen benchmark and is designed to reflect the change in value of the JPY against a basket of major world currencies. The Index was developed by FXCM.
The JPYBasket began on January 2, 2019, with a rate of 10,000. It represents an equivalent ¥200,000 position in each of the currencies that make up its components for a total starting value of ¥1,000,000 .
It rises when the Yen strengthens against the US Dollar, Euro, the British Pound, Canadian Dollar and the Australian Dollar and falls as the Yen weakens compared to these currencies.
In order for the Index to have a starting value of 10.000, the JPY basket uses divisor of 100. For example, if you Buy 1 contract and subsequently the Yen strengthens and the Index rate increases from 10,100 to 10,101, you will earn exactly 100JPY for every point change (or equivalent value in your account denomination).
Margin Requirement's may differ depending on account type and can be viewed in the Dealing Rates and create order windows on the trading station or by clicking here.
FXCM's trading hours vary by product. For forex and JPYBasket, trading opens on Sundays between 5:00 PM ET and 5:15 PM ET and closes on Fridays around 4:55 PM ET.
Maximum Contract Size
The maximum number of contracts per click (trade) for the JPYBasket is 200.
Minimum Pip Cost (Value)
JPYBasket has a minimum value of 100 JPY per point (Your per point value may be different if your account is denominated in a different currency. Please refer to the Simple Dealing Rates Window in Trading Station for this value). The pip/point location is shown below.
The JPYBasket does have financing cost (Rollover). The Rollover is taken directly from the variable rollover rates of the individual FX components and then multiplied by that components current weighting in the Index. To see today’s rollover rate please view the Dealing Rates in the trading station.
JPYBasket has a minimum stop distance of 3 pips.
In the event that one of the individual components of the Basket does not receive a price update for 1 minute, the JPYBasket will become temporarily untradeable. This may result in hanging orders on TS2 or Rejected orders on MT4. We recommend trading with caution around Market Open and Close and any other period of low liquidity.