The Nikkei 225 is the Japanese benchmark index and one of the most important Asian share indices. As Japan is one of the largest economies in the world, the Nikkei (full name: Nikkei Heikin Kabuka) is observed and analyzed by traders around the globe. In addition to the index with the abbreviation NK, the indices traded on the Osaka Exchange (old name: Osaka Security Exchange) are of particular interest to active traders.Futures with the abbreviation N225.
Contract specifications
| Designation | Nikkei 225 Futures |
| Abbreviation | N225 |
| Contract size | 1000 JPY x Nikkei 225 Index |
| Price quote | Index points |
| Tick size | 10 Index points |
| Tick value | 10 000 JPY |
| Daily price limit | No hard price limit Price Limits/Circuit Breaker see: https://www.jpx.co.jp/english/derivatives/products/domestic/225futures/01.html |
| Stock Exchange | OSE Japan |
| Trading hours (DE) | 09:30 - 22:30 01:45 - 08:15 |
| Contract months | Jun (M), Dec (Z) for the next 16 contract months. Mar (H), Sep (U) for the next 3 contract months. |
What is the Nikkei 225 Future?
The Nikkei 225 Future (symbol: N225) is a futures contract on the Nikkei 225 Index. There are four contract months available: March, June, September and December. The March and September contract can be traded for the next three contract months, the June and December contract for the next 16 contract months.
Contract size
The Nikkei is quoted at approx. 23,000 points in July 2020. The equivalent value of a Nikkei future is therefore JPY 23,000,000, which is roughly equivalent to USD 220,000. (Futures traders only have to deposit a fraction of this as collateral thanks to margin trading).
In other words, a one percent movement of the Nikkei thus causes a gain or a loss of about 2200 USD.
Since the regular (large) contract is too large for many private investors, mini futures are also available.
Nikkei 225 Mini Futures
The contract size of the Mini Future with the symbol N225M is one tenth of the large contract (i.e.: JPY 100 x Nikkei 225 Index). According to the website of the Japan Exchange Group, the Nikkei 225 Mini Future is the most liquid futures contract in Asia.
