Tokyo International Financial Futures Exchange (TIFFE) is an exchange focusing on short-term interest rate futures. Founded in April 1989, it officially opened on June 30th of the same year. Due to the free floating of interest rates and exchange rates at that time, Japanese financial institutions faced unprecedented risks. With the rapid growth of loans, bonds, negotiable certificates of deposit and commercial paper denominated in euros, it is very urgent for financial enterprises to find corresponding financial hedging tools. The establishment of Tokyo International Financial Futures Exchange conforms to the development trend of Japanese financial marketization and internationalization, and promotes the development process of Japanese financial futures.