Nikkei 225 Futures and Options on Futures

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For Japanese Benchmark Access with Capital Savings, Try a New Angle.

Nikkei 225 futures and options on futures provide investors around the globe with an efficient way to access the opportunities of the Japanese equity market, one of the world’s largest markets, and track the Nikkei 225 Stock Average.

Key Benefits

  • Benchmark exposure to Japan with a single trade
  • Flexibility in contract offering, with standard yen- and USD-denominated contracts and E-mini sized yen-denominated futures
  • Liquidity and significant spreading opportunities between yen and USD contracts
  • Electronic trading and around-the-clock access on CME Globex
  • Mutual Offset System (MOS) eligibility for greater access and trading across time zones
  • Counterparty credit risk mitigation through CME Clearing

Nikkei 225 Spread Opportunities

Yen- and USD-denominated Nikkei 225 futures offer the most liquid listed index quanto spread market available today. Learn how to capture opportunity by choosing the right trading vehicle.

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New! Nikkei 225 Implied Intercommodity Spreads

Available October 30, 2017, Nikkei 225 Implied Intercommodity spread functionality will allow market participants to spread USD- and yen-denominated Nikkei 225 Index futures as a single instrument.

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Mutual Offset System

Through a special arrangement between CME Group and the Singapore Exchange (SGX), traders of yen- and U.S. dollar-based Nikkei 225 contracts have the ability to take positions at either exchange, and later clear those trades at either CME Clearing or SGX the same trading day. As a result, traders can execute trades in both markets with the ability to clear those trades in their preferred time zone.

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Contract Specifications

Contract Unit $5.00 x Nikkei Stock Average
Minimum Price Fluctuation 5.00 index points=$25.00
Trading Hours CME Globex: Sunday - Friday 6:00 p.m. - 5:00 p.m. Eastern Time (ET) with  trading halt 4:15 p.m. - 4:30 p.m.

Clearport: Sunday - Friday 6:00 p.m. - 5:00 p.m. ET
Listed Contracts Four months in the March Quarterly Cycle (Mar, Jun, Sep, Dec)
Termination Of Trading 5:00 p.m. Eastern Time (ET) on Business Day prior to 2nd Friday of the contract month
Contract Unit ¥500 (yen) x Nikkei Stock Average
Minimum Price Fluctuation 5.00 index points=¥2500
Trading Hours CME Globex: Sunday - Friday 6:00 p.m. - 5:00 p.m. Eastern Time (ET)

Clearport: Sunday - Friday 6:00 p.m. - 5:00 p.m. ET
Listed Contracts Twelve months in the March Quarterly Cycle (Mar, Jun, Sep, Dec), and 3 serials
Termination Of Trading 5:00 p.m. Eastern Time (ET) on the Thursday prior to the second Friday of the contract month
Contract Unit ¥100 x Nikkei Stock Average
Minimum Price Fluctuation 10 Index points = ¥1,000
Trading Hours CME Globex: Sunday - Friday 6:00 p.m. - 5:00 p.m. Eastern Time (ET)

Clearport: Sunday - Friday 6:00 p.m. - 5:00 p.m. ET
Listed Contracts Four months in the March Quarterly Cycle (Mar, Jun, Sep, Dec)
Termination Of Trading 5:00 p.m. Eastern Time (ET) on the Thursday prior to the second Friday of the contract month
Contract Unit One Nikkei 225 (yen) futures contract
Minimum Price Fluctuation 1 index point ( = ¥ 500 )
Trading Hours CME Globex: Sunday - Friday 6:00 p.m. - 5:00 p.m. Eastern Time (ET)

Clearport: Sunday - Friday 6:00 p.m. - 5:00 p.m. ET
Listed Contracts Two months in the March Quarterly Cycle (Mar, Jun, Sep, Dec)
Termination Of Trading 5:00 p.m. Eastern Time (ET) on Thursday prior to 2nd Friday of the contract month
Contract Unit Nikkei 225 (yen) futures contract
Minimum Price Fluctuation 1 index point ( = ¥ 500 )
Trading Hours CME Globex: Sunday - Friday 6:00 p.m. - 5:00 p.m. Eastern Time (ET)

Clearport: Sunday - Friday 6:00 p.m. - 5:00 p.m. ET
Listed Contracts Two serial months (Jan, Feb, Apr, Jul, Aug, Oct, Nov)
Termination Of Trading 3:00 p.m. Osaka time on the 2nd Friday of the contract month

About the Nikkei 225 Stock Average

The Nikkei 225 Stock Average is one of the oldest barometers of the Japanese market, first calculated in 1949. It is structured to reflect the Japanese stock market using the 225 top-rated, blue-chip Japanese companies listed in the First Section of the Tokyo Stock Exchange (TSE), featuring such familiar company names as Sony and Honda. The Nikkei 225 Stock Average is price-weighted, so that higher-priced stocks have a greater percentage impact on the Index than lower-priced stocks.

CME Group has a licensing agreement to offer both yen- and USD-denominated futures and options on futures on the Nikkei 225 Stock Average.

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