The N225 futures market is based upon the Nikkei 225 stock index, which is the primary stock index of the Osaka Securities Exchange (OSE) in Japan. The Nikkei 225 stock index consists of two hundred and twenty-five Japanese companies, that are traded on the Osaka and Tokyo stock exchanges. The Nikkei 225 stock index is an equal weighting index, designed to represent the overall Japanese stock market. The Nikkei 225 stock index is calculated using the prices of the individual stocks from the Osaka and Tokyo stock exchanges. The N225 futures market is is the primary Nikkei 225 derivative, and is traded on the Osaka Securities Exchange's electronic trading system from 9:00 AM to 11:00 AM, 12:30 PM to 3:10 PM, and 4:30 PM to 8:00 PM Japan Standard Time.
Companies
As of February 2009, the Nikkei 225 stock index includes two hundred and twenty-five companies, which are available in detail in the Nikkei 225 constituent list.
Contract Specifications
The full contract specifications for the N225 futures market are as follows:
- Symbol: N225 (IB / SierraChart Format)
- Expiration date (as of February 2009): March 12 2009 (the trading day before the third Friday of every third month)
- Exchange: OSE.JPN
- Currency: JPY
- Multiplier / Contract value: 1,000 JPY
- Tick size / Minimum price change: 10
- Tick value / Minimum price value: 10,000 JPY
Holidays
In 2009, the N225 futures market is open for trading every trading day (Monday to Friday), except for the following holidays:
- January 1st
- January 2nd
- January 5th (modified trading times)
- January 12th
- February 11th
- March 20th
- April 29th
- May 4th
- May 5th
- May 6th
- July 20th
- September 21st
- September 22nd
- September 23rd
- October 12th
- November 3rd
- November 23rd
- December 23rd
- December 30th (modified trading times)
- December 31st
Exchange Web Site
The Osaka Securities Exchange web site is available at http://www.ose.or.jp/, and provides additional information about the exchange, its trading system, and the Nikkei 225 stock index and N225 futures market.
