According to CoinMeta, the Tokyo Financial Exchange announced the launch of a new futures contract linked to the Bank of Japan's overnight unsecured lending rate. The aim is to help traders position themselves for interest rate changes during the two central bank policy meetings, in order to hedge against the increased risks associated with volatile interest rates. The exchange stated that the existing three-month tona (Tokyo Overnight Average Rate) futures contract did not meet the needs of traders, who wish to use relevant tools to hedge against the constantly changing interest rate expectations resulting from each policy meeting of the Bank of Japan. A director of the exchange's wholesale business department pointed out that recent interest rate fluctuations have been more active, and the demand for derivatives trading has also increased. Despite the market's expectation that the Bank of Japan will continue to raise interest rates, the trading volume of the three-month tona futures has declined in recent months, with September's trading volume falling by nearly 50% compared to the same period last year.