Osaka Securities Exchange

Nikkei 225 mini Report

Fee Schedule for Futures & Options Trading (April 2008)

Comparison between Nikkei 225 mini & Nikkei 225 Futures (As of July 2010)

CONTRACT SPECIFICATIONS - Nikkei 225 mini-
Underlying index	Nikkei Stock Average (Nikkei 225)
Contract months	2 months in the March quarterly cycle: Mar, Jun, Sep, Dec (Maximum trading period: 6 months)
Contract unit	Nikkei 225 × ¥100
Minimum fluctuation	¥5 (value per tick: ¥500 per contract)
Daily price limits	Same as daily price limits of Nikkei 225 Futures which have the same last trading day Click HERE for details of daily price limits of Nikkei 225 Futures
Last trading day	The business day preceding the second Friday of each contract month (When the second Friday is a non-business day, it shall be the preceding business day.) Trading in a new contract month begins on the business day following the last trading day.
Settlement	Cash Settlement
Final settlement price	Special Quotation (SQ calculation is based on the total opening prices of each component stock of Nikkei 225 on the business day following the last trading day.)
Trading hours	9:00 - 11:00, 12:30 - 15:10, 16:30 - 23:30 JST
Trading system	Fully Automated Computer System
Inter-month spread trading	Available
J-NET Derivatives Trading	Available Click HERE for details
Available for trading in the U.S.	Yes
Margin	Calculated based on SPAN® Risk is netted out between Nikkei 225 mini and Nikkei 225 Futures.
Give-up	Available
Position-Transfer	Available