Other Trading Rules

Non‐Cancel Period (NCP)

To prevent excessive price fluctuation due to order modifications/cancellations just before Itayose, OSE introduces one‐minute periods during which investors cannot change or cancel their orders for certain products.



All contract months of the products below.

  • Nikkei 225 Futures
  • Nikkei 225 mini
  • TOPIX Futures (excluding mini-TOPIX Futures)
  • Gold Standard Futures
  • Gold Mini Futures
  • Gold Rolling-Spot Futures
  • Options on Gold Futures
  • Silver Futures
  • Platinum Standard Futures
  • Platinum Mini Futures
  • Platinum Rolling-Spot Futures
  • Palladium Futures
  • CME Group Petroleum Index Futures
  • Soybean Futures
  • Azuki (Red Bean) Futures
  • Corn Futures
  • Platts Dubai Crude Oil Futures
  • Gasoline Futures
  • Kerosene Futures
  • Gas Oil Futures
  • Chukyo Gasoline Futures
  • Chukyo Kerosene Futures
  • East Area Baseload Electricity Futures
  • West Area Baseload Electricity Futures
  • East Area Peakload Electricity Futures
  • East Area Peakload Electricity Futures

Order Types

  • Order modifications and order cancellations
  • New orders can be placed.

Time periods (NCP)

One minute before the opening of a day session, and
one minute before the opening and closing of a night session

Non-cancel period (JST)

  • 8:44 - 8:45
  • 16:29 - 16:30
  • 5:59 - 6:00 (the following day)
  • 18:59 - 19:00(Limited to Electricity Futures)
Non-cancel period (JST)

The NCP is not applied to the close of the day session, but OSE introduces the restriction on the partial prohibition of large order cancellations prior to call auctions.

The Partial Prohibition of Order Cancellations Prior to Call Auction