JPX-Nikkei Index 400 Futures

JPX-Nikkei Index 400

The underlying index is JPX-Nikkei Index 400, which is composed of companies with high appeal for investors, meeting requirements of global investment standards, such as efficient use of capital and investor-focused management perspectives.

JPX-Nikkei Index 400

The constituents are selected from all the listed companies on Tokyo Stock Exchange (TSE) based on the criteria, such as ROE and corporate governance processes (Start of Calculation Jan. 6, 2014).

Selection Process

Contract unit

Contract unit is JPY100, which allows investors to trade in small increments similar as to Nikkei 225 mini contracts.


Margin offsets with Nikkei 225, Topix and other products are applicable, which allows investors to trade with smaller margin deposit.

  • ・The SPANĀ® (Standard Portfolio Analysis of Risk) system is a methodology that calculates risk-based margin developed by the Chicago Mercantile Exchange (CME)
  • ・Futures and options traded on OSE are cleared by Japan Securities Clearing Corporation (JSCC).
    Please refer to JSCC website for SPAN risk parameter files, SPAN parameters and other related matters.
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Market Maker Program

From the viewpoint of ensuring the smooth trading opportunity, Market Maker Program is applied to JPX-Nikkei Index 400 Futures.

Market Maker Program


Overview of JPX-Nikkei Index 400 Futures (Flyer)



Related Site/Page

JPX-Nikkei Index 400
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