Font Size
S
M
L

Nikkei 225 VI Futures

Contract Specifications


Underlying Index	Nikkei Stock Average Volatility Index (Nikkei 225 VI)
Opening Date	February 27, 2012
Trading Hours	9:00-15:15, 16:30-19:00 (Note) Orders are only accepted and not matched for 5 minutes before the Itayose on close. Trading Hours
Contract Months	8 nearest serial contract months
Last Trading Day	A trading day which ends on the business day immediately preceding the day (if it falls upon an OSE non-business day, it will be advanced) that is 30 days prior to the Second Friday (if it falls upon an OSE non-business day, it will be advanced) of the calendar month immediately following each contract month Trading in a new contract month begins on the business day following the last trading day.
SQ Day	The business day following the last trading day.
Contract Unit	Nikkei 225 VI × ¥10,000
Tick Size	0.05 points
Price Limits	The price limit range is 10 points. (Note) The price limits will be expanded by 5 points (Only price limits in one direction, up or down, will be expanded.) (Note) no limitation on how many times the price limit range will be expanded. Price Limits/ Circuit Breaker Rule Immediately Executable Price Range (DCB)：LTP or BBO mid price ±10 Ticks (0.5 points) ※However, the DCB Price Range for Opening Auction and Closing Auction will be ±30 Ticks and ±15 Ticks respectively. Immediately Executable Price Range Rule
Circuit Breaker Rule(SCB)	In the case where there was a trade, etc. in the central contract month at the upper or lower price limit range, trading in all contract months will be suspended for at least 10 minutes. Price Limits/ Circuit Breaker Rule
Strategy Trades	The calendar spread trading is available.
J-NET Trading	Available (Tick size: 0.0001 points, Minimum trading unit: 1 unit) J-NET Trading
Holiday Trading	Available Holiday Trading
Settlement	Cash Settlement
Final Settlement Price	Special Quotation (Special quotation is the average value of the Nikkei 225 VI over the 30 minutes starting from 9:00 a.m. on the business day following the last trading day.) * In the event that updates of the Nikkei 225 VI are suspended due to a trading halt in Nikkei 225 Futures or Options, a temporary trading halt caused by a static circuit breaker (SCB), or other factors, the period for which updates are suspended shall not be included in the 30 minutes.
Margin	Calculated by VaR Method Margin Calculation Method (VaR Method) for Futures and Options (JSCC)
Settlement method	resell or buy back final settlement
Give-Up	Available Give-Up System
Position-Transfer	Available Position Transfer System（JSCC）