| Underlying Index |
TOPIX |
| Opening Date |
October 20, 1989 |
| Trading Hours |
8:45-15:15, 16:30-6:00
(Note) An order acceptance period ("pre-closing") is established for 5 minutes before the Itayose on close.
Trading Hours |
| Contract Months |
- Quarterly Contract Months(Available for a period up to 5 years)
- June and December: Nearest 10 contract months
- March and September: Nearest 3 contract months
- Monthly Contract Months(Available for a period up to 9 months)
- Nearest 6 contract months
|
| Strike Prices |
- For nearest 3 contract months
- +/- 9 strike prices with 25 points interval
- For other contract months
- +/- 6 strike prices with 50 points interval
- Others
|
| Last Trading Day |
The business day preceding the second Friday of each expiration month (When the second Friday is a non-business day, it shall be the preceding business day.).
Trading in a new expiration month begins on the business day following the last trading day. |
| Exercise Type |
European. The option may be exercised only at its expiration. |
| Contract Unit |
TOPIX × ¥10,000 |
| Tick Size |
20points or less: 0.1 points
Over 20points : 0.5 points |
| Price Limits |
- The price limit range shall be calculated by multiplying the base price for calculating the price limit range by the following rates. In principle, the price limit range will be recalculated on a quarterly basis (March, June, September and December).
| Reference price |
Normal |
| Less than 5 points |
4% |
| 5～20 points |
6% |
| 20～50 points |
8% |
| 50 points or more |
11% |
| 1st Expansion |
Add 3% to Normal Price Limits |
| 2nd Expansion |
Add 3% to 1st Expansion Price Limits |
(Note) The price limits will be expanded to the 1st expansion of price limits, and then to the 2nd expansion of price limits (Price limits in both directions, up and down, will be expanded.)
Current Price Limits
Price Limits/ Circuit Breaker Rule
(Note) OSE may review price limit temporarily.
- Immediately Executable Price Range (DCB)：LTP or BBO mid price ±10 Ticks
※However, the DCB Price Range for Opening Auction and Closing Auction will be ±60 Ticks and ±30 Ticks respectively.
Immediately Executable Price Range Rule
|
| Circuit Breaker Rule (SCB) |
Price Limits/ Circuit Breaker Rule |
| Strategy Trades |
Unavailable |
| J-NET Trading |
Available (Tick size:0.0001 points Minimum trading unit: 1 unit)
J-NET Trading |
| Flexible Options Trading |
Available
Flexible Options Trading |
| Settlement |
Cash settlement of the difference between the strike price and the Special Quotation on the expiration date |
| Final Settlement Price |
Special Quotation
(SQ calculation is based on the total opening prices of each component stock of TOPIX on the business day following the last trading day.) |
| Margin |
Calculated by using SPAN®
(Margin offsetting with other index futures and options contracts is allowed.) |
| Give-Up |
Available
Give-Up System |
| Position-Transfer |
Available
Position Transfer System（JSCC） |
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