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japan_futures [2019/02/21 13:36] – [Japan Futures] mayajapan_futures [2020/08/04 13:46] (current) – [Contracts] maya
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 Currency: Japanese Yen (JPY) Currency: Japanese Yen (JPY)
  
-[[https://www.jpx.co.jp/english/corporate/about-jpx/calendar/index.html|Exchange Holidays]]\\ +  * [[https://www.jpx.co.jp/english/corporate/about-jpx/calendar/index.html|Exchange Holidays]] 
-[[http://www.jpx.co.jp/english/derivatives/rules/trading-hours/|Trading Hours]]+  * [[http://www.jpx.co.jp/english/derivatives/rules/trading-hours/|Trading Hours]] 
 =====Contracts===== =====Contracts=====
  
-[[http://www.jpx.co.jp/english/derivatives/products/domestic/225mini/01.html | Mini Nikkei 225 Futures]]: contract size / BP = price * 100 JPY\\+You can use the following formula to calculate the contract value for each futures series. This value represents the amount of Buying Power (BP) you would need to trade a single contract. 
 + 
 +[[http://www.jpx.co.jp/english/derivatives/products/domestic/225mini/01.html | Mini Nikkei 225 Futures]]: contract value = price * 100 JPY
  
-Please make sure that you familiarize yourself with the expiration dates of the different contracts and the universal month codes for them. The month codes to denote contract expiration months are universal, and can be found on the Month Codes page.+Please familiarize yourself with the expiration dates of contracts and their universal month codes, which can be found on the [[http://www.cmegroup.com/product-codes-listing/month-codes.html|Contract Month Codes]] page.
  
 The symbology format is as follows: The symbology format is as follows:
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 Where: Where:
  
-XXX: 2–5 character Japan Futures product code, e.g., **NK225**\\ +  * XXX: 2–5 character Japan Futures product code, e.g., **NK225** 
-M: month code, e.g., **H**\\ +  * M: month code, e.g., **H** 
-YY: year code (last two digits of the year), e.g., **17**+  * YY: year code (last two digits of the year), e.g., **17**
  
-For example, the Nikkei 225 Futures contract expiring in March 2017, would be: **NK225\H17**+For example, the Nikkei 225 Futures contract expiring in March 2019, would be: **NK225\H19**
  
 **Note:** the regular trading session ends at 15:10, and the closing auction takes place at 15:15. **Note:** the regular trading session ends at 15:10, and the closing auction takes place at 15:15.
  
 For more information, see the [[ http://www.jpx.co.jp/english/derivatives/index.html | Derivatives]] page. For more information, see the [[ http://www.jpx.co.jp/english/derivatives/index.html | Derivatives]] page.
 +
 ==== Order Types ==== ==== Order Types ====
  
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   * Tick Size: varies by contract.   * Tick Size: varies by contract.
   * Short Sale Rules: short selling is allowed, and no mark or locates are required for shorting.   * Short Sale Rules: short selling is allowed, and no mark or locates are required for shorting.
 +  * Circuit Breakers: for more information, you can see the [[https://www.jpx.co.jp/english/derivatives/rules/price-limit-cb/index.html|Price Limits/ Circuit Breaker Rule]] page.
  
 ==== Trading Overview ==== ==== Trading Overview ====
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 **Condition 2:** in the case where there are several prices that meet Condition 1, the price that maximizes the traded volume. **Condition 2:** in the case where there are several prices that meet Condition 1, the price that maximizes the traded volume.
  
-**Condition 3:** in the case there are several prices that meet Condition 2, the price that minimizes the difference between the cumulative volume of sell orders and the cumulative volume of buy orders (hereinafter called "surplus volume").+**Condition 3:** in the case where there are several prices that meet Condition 2, the price that minimizes the difference between the cumulative volume of sell orders and the cumulative volume of buy orders (hereinafter called "surplus volume"). 
 + 
 +**Condition 4:** in the case where there are several prices that meet Condition 3, the either price of the following: 
 + 
 +1. In the case where the cumulative sell volume is larger than the cumulative buy volume at all such prices, the lowest price; 
 + 
 +2. In the case where the cumulative buy volume is larger than the cumulative sell volume at all such prices, the highest price; or
  
-**Condition 4:** in the case there are several prices that meet Condition 3, the either price of the following:\\ 
-1. In the case where the cumulative sell volume is larger than the cumulative buy volume at all such prices, the lowest price;\\ 
-2. In the case where the cumulative buy volume is larger than the cumulative sell volume at all such prices, the highest price; or\\ 
 3. Otherwise, the price in Condition 5. 3. Otherwise, the price in Condition 5.
  
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     * the last traded price on the trading day;     * the last traded price on the trading day;
     * in case there is no price described in (1), the standard price of bids and offers on the trading day.     * in case there is no price described in (1), the standard price of bids and offers on the trading day.
 +
 ===== See Also ===== ===== See Also =====
-  * [[market_guides|Market Guides]] 
  
 +  * [[market_guides|Market Guides]]
japan_futures.1550774205.txt.gz · Last modified: 2019/02/21 13:36 by maya