TOPIX Options
Contract Specifications
Underlying Index | TOPIX | ||||||||||||||
Opening Date | October 20, 1989 | ||||||||||||||
Trading Hours | 8:45-15:45, 17:00-6:00 (Note) An order acceptance period ("pre-closing") is established for 5 minutes before the Itayose on close. Trading Hours |
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Contract Months |
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Strike Prices |
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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. |
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Exercise Type | European. The option may be exercised only at its expiration. | ||||||||||||||
Contract Unit | TOPIX × ¥10,000 | ||||||||||||||
Tick Size |
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Price Limits |
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Circuit Breaker Rule (SCB) | When the Circuit Breaker is triggered in TOPIX Futures, trading will be suspended accordingly. Price Limits/ Circuit Breaker Rule |
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Strategy Trades | Unavailable | ||||||||||||||
J-NET Trading | Available (Tick size:0.0001 points Minimum trading unit: 1 unit) J-NET Trading |
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Flexible Options Trading | Available Flexible Options Trading |
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Holiday Trading | Available Holiday Trading |
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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.) |
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Margin | Calculated by VaR Method Margin Calculation Method (VaR Method) for Futures and Options (JSCC) |
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Settlement method |
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Give-Up | Available
Give-Up System |
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Position-Transfer | Available Position Transfer System(JSCC) |