Market News

Jan. 07, 2026 OSE SSOs as a New Form of Stock Investment Achieve Highest Ever Trading Volume in 2025

Osaka Exchange, Inc. (OSE) is pleased to announce that the trading volume of single stock options (SSOs) reached 3,438,374 contracts in 2025, marking the highest level since the market was launched. In addition, the notional amount of trades for the same year was approximately JPY 494.1 billion, the highest figure since the integration of the OSE and Tokyo Stock Exchange, Inc. (TSE) derivatives markets in 2014.

SSO Market Accelerating its Growth as a New Form of Stock Investment

To further enhance the convenience of the SSO market, OSE expanded the number of SSOs eligible for market making from 12 to 32 (30 individual stocks and two ETFs) as of September 1, 2025. This revision, together with active quoting by market makers and the strong performance of the cash equity market at TSE, has significantly improved the liquidity of the SSO market.
In particular, the market’s growth accelerated in September and October 2025, as the monthly notional amount of trades reached record highs for two consecutive months.

Amid these circumstances, SSOs are increasingly recognized by a growing number of investors as a “new form stock investment.” Trading during regular trading sessions has become more active, especially for securities eligible for market making, while the use of flexible options trading has also increased, leading to broader utilization of SSOs. As a result, market liquidity and activity have improved significantly, and annual figures have reached record highs.

Trading Rankings (Notional Amount-Based)

The underlying securities of the top ten SSOs traded in 2025 are listed in the table below.

For Reference (More on the SSO market)

Please utilize the following links for more information on the SSO market:

OSE will continue its efforts to improve efficiency in the SSO market in order to meet the needs of market stakeholders.