NIKKEI OPTIONS - CONTRACT SPECS
| Contract Unit | 1 Nikkei Stock Average Futures contract | ||||
| Minimum Price Fluctuation | 5.00 index points = $25.00 | ||||
| Price Quotation | U.S. dollars and cents per index point | ||||
| Trading Hours | CME ClearPort: | Sunday 5:00 p.m. - Friday 5:45 p.m. CT with no reporting Monday - Thursday from 5:45 p.m. – 6:00 p.m. CT | Open Outcry: | Monday - Friday 9:30 a.m. - 4:15 p.m. ET | |
| Product Code | CME ClearPort: NKOpen Outcry: Put: JN Call: KNClearing: NK | ||||
| Listed Contracts | Quarterly contracts (Mar, Jun, Sep, Dec) listed for 4 consecutive quarters and serial contracts listed for 2 months | ||||
| Settlement Procedures | Settlement Procedures | ||||
| Termination Of Trading | Quarterly contracts terminate at 4:15 p.m. ET on the business day prior to the 2nd Friday of the contract month. Serial contracts termnate at 4:15 p.m. ET on the 3rd Friday of the contract month. |
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| Position Limits | CME Position Limits | ||||
| Exchange Rulebook | CME 352A | ||||
| Block Minimum | Block Minimum Thresholds | ||||
| Price Limit Or Circuit | Price Limits | ||||
| Vendor Codes | Quote Vendor Symbols Listing | ||||
| Strike Price Listing Procedures | 6 strikes listed above or below the previous day’s settlement price of the underlying futures in 500 index points intervals | ||||
| Exercise Style | American | ||||
| Exercise Procedure | Options are exercisable until 6:30 p.m. ET on any business day the option is traded | ||||
| Settlement At Expiration | Option exercise results in a position in the underlying cash-settled futures contract. In-the-money options, in the absence of contrarian instructions delivered to the Clearing House by 6:30 p.m. ET on the day of expiration, are automatically exercised into expiring cash-settled futures, which settle to the SOQ calculated the morning of the 2nd Friday of the contract month. | ||||
| Settlement Method | Deliverable | ||||
| Underlying | Nikkei Stock Average Futures | ||||
About Nikkei 225 Dollar Futures
Nikkei 225 USD-denominated futures provide investors with an efficient way to access the opportunities of the Japanese equity market and trade using U.S. dollars. Japan’s premier stock index, the Nikkei 225, includes the top 225 blue-chip companies listed on the Tokyo Stock Exchange.
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