The Topix futures market is based upon the Topix stock index, which is the primary stock index of the Tokyo Stock Exchange (TSE) in Japan. The Topix stock index consists of the 1728 companies (as of February 10th 2009) that are listed in the Tokyo stock exchange's first section (the largest and most actively traded companies that are traded on the TSE). The Topix stock index is a free float weighted index (i.e. the number of tradeable shares), designed to represent the overall Japanese stock market. The Topix stock index is calculated using the prices of the individual stocks from the Tokyo stock exchange. The Topix futures market is is the primary Topix stock index derivative, and is traded on the Tokyo stock exchange's electronic trading system from 9:00 AM to 11:00 AM, 12:30 PM to 3:10 PM Japan Standard Time.
Companies
As of February 2009, the Topix stock index includes 1728 companies, which are the companies that are listed in the Tokyo stock exchange's first section (the largest and most actively traded companies that are traded on the TSE).
Contract Specifications
The full contract specifications for the Topix futures market are as follows:
- Symbol: TOPX (IB / Sierra Chart Format)
- Expiration date (as of February 2009): March 12 2009 (the trading day before the third Friday of every third month)
- Exchange: TSE.JPN
- Currency: JPY
- Multiplier / Contract value: 10,000 JPY
- Tick size / Minimum price change: 0.5
- Tick value / Minimum price value: 5,000 JPY
Holidays
In 2009, the Topix futures market is open for trading every trading day (Monday to Friday), except for the following holidays:
- January 1st
- January 5th (modified trading times)
- January 12th
- February 11th
- March 20th
- April 29th
- May 3rd
- May 4th
- May 5th
- May 6th
- July 20th
- September 21st
- September 22nd
- September 23rd
- October 12th
- November 3rd
- November 23rd
- December 23rd
Exchange Web Site
The Tokyo Stock Exchange web site is available at http://www.tse.or.jp/, and provides additional information about the exchange, its trading system, and the Topix stock index and Topix futures market.
