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SGX Nikkei 225 Index Futures and Options
futures contract specifications
Product Type |
SGX Nikkei 225 Index Futures | |
Product Category |
Equity Index | |
| Ticker Symbol | NK (Outright, Strategy Trades), NKTI (Trade-At-Index-Close) | |
| Contract Size | ¥500 x Nikkei 225 Index Futures Price | |
| Minimum Price Fluctuation | Outright: 5 index points (¥2500), Calendar Spread: 1 index point (¥500), Trade-At-Index-Close: 0.25 index point (¥125) | |
Contract Months |
6 nearest serial months & 32 nearest quarterly months | |
| Trading Hours (Singapore Time) |
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| Trading Hours on Last Day |
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| Last Trading Day | The Japanese business day immediately preceding the second Friday of the contract month. | |
| Daily Price Limits | Whenever the price moves by 10% in either direction, from the previous day’s daily settlement price, trading at or within the price limit of +/- 10% is allowed for the next 5 minutes. Thereafter when the price moves by 15% in either direction, from the previous day’s daily settlement price, trading at or within the price limit of +/-15% is allowed for the next 5 minutes. After this cooling-off period has elapsed, there will be no price limits for the remainder of the trading day. There shall be no price limits for the expiring contract month on the Last Trading Day. *The Exchange will signal the commencement of the Cooling Off Period when there is an unsatisfied bid or offer at the prevailing Upper Price Limit or Lower Price Limit respectively for a continuous period of more than ten seconds. The Exchange retains the discretion to take into account any other factors in the market in determining the commencement of the Cooling Off Period. |
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| Settlement Basis | Cash settlement | |
| Final Settlement Price | The Special Nikkei 225 Index Quotation based on the opening prices of each component issue in the Nikkei 225 Index on the business day following the last trading day. | |
| Position Accountability / Position Limit | Position limit is not applicable to this contract. However, a person owning or controlling more than 10,000 contracts net long or net short in all contract months of SGX Nikkei Stock Average Futures and Options, SGX Mini Nikkei Stock Average Futures and SGX USD Nikkei Stock Average Futures combined in position delta, or such position as the Exchange may prescribe from time to time with prior notification, shall provide, in a timely fashion, upon request by the Exchange, information regarding the nature of the position, trading strategy, and hedging information if applicable. | |
| Negotiated Large Trade | Minimum 5 lots | |
| Underlying Index Bloomberg Ticker | NKY<Index> | |
| Bloomberg Ticker Code |
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| Refinitiv Ticker Code |
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| Price Information (Vendor: Ticker) |
Outright, Strategy Trades CQG: ZNA ComStock: 2sNKNmy Future Source: SNIA MoneylineTelerate: SG@NAyym or Pg 7257 Quick: 101.n/SGXE SIX Financial: NKyym,344 Trade-At-Index-Close SIX Financial: NKmyy_TAIC,344 (T Session), NKmyy_TAIC,812 (T+1 Session) Colt Technology: NKTImyy |
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| Other Contract Specification Details | Mutual Offset Trading with CME: Eligible for Outright and Strategy Trades executed on screen. Not eligible for Negotiated Large Trades (NLT) and Trade-At-Index-Close (TAIC) Trades. |
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options contract specifications
Product Type |
SGX Nikkei 225 Index Options | |
Product Category |
Equity Index | |
| Ticker Symbol | Calls - CNK , Puts - PNK | |
Contract Size |
1 x Nikkei 225 Index Futures Contract | |
Minimum Price Fluctuation |
1 index point (500). Trades may occur at a price of 300 whether or not such trades result in the liquidation of position for both parties to the trade. | |
Contract Months |
6 nearest serial months & 32 nearest quarterly months | |
| Trading Hours (Singapore Time) |
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Trading Hours on Last Day |
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| Last Trading Day | The Japanese business day immediately preceding the second Friday of the contract month. | |
| Daily Price Limits | N.A. |
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| Settlement Basis | Cash settlement. In-the-money options will be automatically exercised on expiry into SGX Nikkei 225 Index Futures (“futures contract”) positions, which will then be cash-settled based on the final settlement price methodology of the futures contract. | |
| Position Accountability / Position Limit | Position limit is not applicable to this contract. However, a person owning or controlling more than 10,000 contracts net long or net short in all contract months of SGX Nikkei Stock Average Futures and Options, SGX Mini Nikkei Stock Average Futures and SGX USD Nikkei Stock Average Futures combined in position delta, or such position as the Exchange may prescribe from time to time with prior notification, shall provide, in a timely fashion, upon request by the Exchange, information regarding the nature of the position, trading strategy, and hedging information if applicable. | |
| Negotiated Large Trade | Minimum 5 lots | |
| Underlying Index Bloomberg Ticker | NKY<Index> | |
| Bloomberg Ticker Code |
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| Refinitiv Ticker Code | 0#SSI<+> or 0#SSImy<+> | |
| Price Information (Vendor: Ticker) |
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| Strike Price Intervals | 125 index point intervals. The Exchange will list At-the-Money (ATM) strike put and call options and the next thirty-two exercise prices above and below the ATM strike. ATM strike refers to the exercise price nearest to the closing index level of the Nikkei 225 Index on the previous Trading Day. No new options shall be listed, however, if there are less than three calendar days remaining to the Expiration Day of the Option Contract. |
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| Option Exercise | European Style: An option may be exercised by the buyer only at expiry. Exercise results in a long Nikkei 225 Index futures position, which corresponds with the option's contract month, for a call buyer or a put seller, and a short Nikkei 225 Index futures position for a put buyer and a call seller. An option that is in-the-money and has not been liquidated or exercised prior to the termination of trading shall be exercised automatically. |
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