Nikkei 225 Futures (Large Contracts)

About Nikkei 225 Futures (Large Contracts)

Nikkei 225 Futures based on The Nikkei Stock Average which is a major Japanese stock index used as a benchmark in various financial instruments.

Trading unit is 1,000 times the Nikkei Stock Average (Nikkei 225)

The minimum trading unit is 1,000 times the Nikkei Stock Average (Nikkei 225).

19 contract months can be traded

The Nikkei 225 Futures contract has a fixed term for trading, The expiration month is called the contract month. In Nikkei 225 Futures trading, a total of 19 contract months are set for March, June, September, and December.
The last trading day of each contract month is the business day preceding the second Friday, which is the expiration date (SQ day) of the contract month.
Trading for a new contract month begins at the Day Session on the business day following the last trading day.The trading period for each contract month is 8 years for the June and December contracts and 1 year and 6 months for the March and September contracts.

For example, as of the end of July 2023 (after the SQ date), the contract month trades that existed are as follows.

March Contract June Contract September Contract December Contract
2023
2024
2025
2026
2027
2028
2029
2030
2031

Margin

In stock investment, 100,000 yen is required to buy 100,000 yen worth of stocks. In Nikkei 225 Futures trading, however, trading is conducted by pledging collateral called margin.
While margin trading in stocks requires about 3 times the amount of the margin, Nikkei 225 futures trading allows you to trade dozens of times the amount of the margin.

Example per unit

Nikkei 225 Futures
Margin(Sell/Buy) JPY 1,600,000/JPY 1,700,000
Tick Size JPY 10
Futures Price JPY 30,000
Contract Unit Nikkei 225 Index × 1,000
Trading Amount JPY 30,000,000
Profit and Loss JPY 10,000

In the above example, a margin deposit of 1,700,000 yen would allow trading at approximately 18 times the amount of margin.
However, this leverage effect affects not only profits but also losses, so depending on market conditions, it may be necessary to add margin in cash, or losses may exceed the amount of margin.Please exercise caution when trading.

*The above margin amount is an example, and the actual margin amount is calculated by each brokerage firm and is required of customers to be at least the amount of the Price Scan Range (the minimum margin amount per unit) published by the Japan Securities Clearing Corporation.

Theoretical Price

The price of Nikkei 225 futures is basically determined by supply and demand, but its price movement is linked to the Nikkei Stock Average.
The theoretical price is one guide to determine the price level of futures compared to the current Nikkei Stock Average.

Theoretical Price Formula

Theoretical Price Formula

Market Information

Trading Volume by Trading Participant
Open Interest by Trading Participant

Market Maker Information

To supplement liquidity, we have introduced a market maker system. For details of the system, please refer to the following page.

Market Maker Program

Copyrights/Disclaimer

Copyrights/Disclaimer 

Related Site

The Nikkei Stock Averageicon-block
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