The Osaka Exchange is the primary capital market in Japan and offers futures contracts in addition to equities trading.

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Currency: Japanese Yen (JPY)
Time Zone: UTC +09:00

Calendar
Trading Hours

Mini Nikkei 225 Futures: contract size / BP = 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.

The symbology format is as follows:

XXX\MYY

Where:

XXX: 2–5 character Japan Futures product code, e.g., NK225
M: month code, e.g., H
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

Note: the regular trading session ends at 15:10, and the closing auction takes place at 15:15.

For more information, see the Derivatives page.

• Limit
• Market

• Lot Size: 1 contract.
• Tick Size: varies by contract.
• Short Sale Rules: short selling is allowed, and no mark or locates are required for shorting.

Futures and options trading is conducted on an individual auction basis according to the price and time priority rule.

* In the individual auction in a regular session, a contract price is determined by the Zaraba method. Transactions by the Zaraba method are executed among the matching orders according to the price and time priority rule at a price where the lowest offer and the highest bid are matched.

• In the individual auction in an opening auction and closing auction and at the resumption of trading after a temporarily trading halt, a contract price is determined by the Itayose method.

• Market Guides