Yen-denominated Nikkei 225 futures provide a way to efficiently gain exposure to the benchmark index of 225 top-rated, blue-chip Japanese stocks. They also enable you to:
- Lessen the systematic (market) risk of a portfolio containing Japanese equities and minimize dollar-yen FX risk
- Protect the value of a portfolio of Japanese equities during bear markets without incurring high transaction costs, taxes and custodial fees.
- Use a yen-based contract to eliminate the need to perform multiple foreign exchange conversions
- Participate in the Japanese equity markets with one trading decision rather than selecting individual issues to engage in global asset allocation.
- Accommodate a range of strategies, different market environments and varied objectives
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View free real-time quotes on a variety of electronically traded CME Group products
Euro-denom. E-mini S&P 500 Futures to Launch Oct. 27
Capitalize on compelling new spreading opportunities while gaining exposure to the euro and the U.S. large-cap benchmark in a single trade.
Fee Incentives & Intercommodity Spreads: S&P SmallCap & MidCap Products
Fee Waivers on the S&P MidCap 400 and S&P SmallCap 600 contracts
Reduced fees for spread-traded E-mini options
Effective though December 2008
- Equity Index Price Limits
- Equity Index Products Research Center
- Equity Index Choices center
- EOM Options Fixing Price (ESF)
- Equity Fair Value Premiums
- Clearing & Trading Fees
- Performance Bonds/Margins
- Trading Hours
- Product & Vendor Codes
- Future Spreads on CME Globex
- Options Strategies on CME Globex
- CME Rulebook
- CBOT Rulebook
- Find-a-Broker
- Glossary
- Knowledge Center Home
- View Intra Day Block Trades
- Month-End FV Settlement Q&A
| Trade Unit | 500 Japanese Yen times the Nikkei Stock Average | ||
| Settle Method | Cash Settled | ||
| Point Size | 1 point = 500 Japanese Yen | ||
| Strike Price Interval | |||
| Strike | |||
| Limits/Price Banding | The Daily Price Limit shall be based on the settlement price of the lead month futures contract on the last business day of the preceding month: Lead Month Settlement Daily Limit (Index points) 0 - 20,000; 1,000 20,005 - 30,000; 1,500 30,005 and up; 2,000 | ||
| Tick Size (Minimum Fluctuation) |
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| Trading Hours | Standard Time: 5:00 a.m. to 3:15 p.m., reopening from 3:30 - 4:30 p.m. (Monday through Friday) Daylight Savings Time: 6:00 a.m. to 3:15 p.m., reopening from 3:30 - 4:30 p.m., closing from 4:30 - 5:00 p.m, reopening from 5:00 - 6:00 p.m. LTD: 3:15 pm | ||
| Listed | |||
| Product Codes | Clearing=N1 Ticker=NIY | ||
| Minimum Block Size | |||
| Product Calendar | Five March Quarterly Cycle months: Mar, Jun, Sep, Dec and Mar, and three serial months: April, May and July. View current product listings |
Euro-denom. E-mini S&P 500 Futures to Launch Oct. 27
Capitalize on compelling new spreading opportunities while gaining exposure to the euro and the U.S. large-cap benchmark in a single trade.
Fee Incentives & Intercommodity Spreads: S&P SmallCap & MidCap Products
Fee Waivers on the S&P MidCap 400 and S&P SmallCap 600 contracts
Reduced fees for spread-traded E-mini options
Effective though December 2008
- Equity Index Price Limits
- Equity Index Products Research Center
- Equity Index Choices center
- EOM Options Fixing Price (ESF)
- Equity Fair Value Premiums
- Clearing & Trading Fees
- Performance Bonds/Margins
- Trading Hours
- Product & Vendor Codes
- Future Spreads on CME Globex
- Options Strategies on CME Globex
- CME Rulebook
- CBOT Rulebook
- Find-a-Broker
- Glossary
- Knowledge Center Home
- View Intra Day Block Trades
- Month-End FV Settlement Q&A
| Contract Month | Product Code | First Trade Date | Last Trade Date | Settlement Date | |
| OCT08 | N1V08 | 05/09/2008 |  |
10/09/2008 | 10/10/2008 |
| NOV08 | N1X08 | 07/11/2008 | |
11/13/2008 | 11/14/2008 |
| DEC08 | N1Z08 | 09/14/2007 | |
12/11/2008 | 12/12/2008 |
| JAN09 | N1F09 | 08/08/2008 | |
01/08/2009 | 01/09/2009 |
| FEB09 | N1G09 | 10/10/2008 | |
02/12/2009 | 02/13/2009 |
| MAR09 | N1H09 | 12/14/2007 | |
03/12/2009 | 03/13/2009 |
| JUN09 | N1M09 | 03/14/2008 | |
06/11/2009 | 06/12/2009 |
| SEP09 | N1U09 | 06/13/2008 | |
09/10/2009 | 09/11/2009 |
| DEC09 | N1Z09 | 09/12/2008 | |
12/10/2009 | 12/11/2009 |
Euro-denom. E-mini S&P 500 Futures to Launch Oct. 27
Capitalize on compelling new spreading opportunities while gaining exposure to the euro and the U.S. large-cap benchmark in a single trade.
Fee Incentives & Intercommodity Spreads: S&P SmallCap & MidCap Products
Fee Waivers on the S&P MidCap 400 and S&P SmallCap 600 contracts
Reduced fees for spread-traded E-mini options
Effective though December 2008
- Equity Index Price Limits
- Equity Index Products Research Center
- Equity Index Choices center
- EOM Options Fixing Price (ESF)
- Equity Fair Value Premiums
- Clearing & Trading Fees
- Performance Bonds/Margins
- Trading Hours
- Product & Vendor Codes
- Future Spreads on CME Globex
- Options Strategies on CME Globex
- CME Rulebook
- CBOT Rulebook
- Find-a-Broker
- Glossary
- Knowledge Center Home
- View Intra Day Block Trades
- Month-End FV Settlement Q&A
The Nikkei 225 Stock Average Index is one of the oldest Japanese market barometers, first calculated in 1949 It is structured to reflect the Japanese stock market using the 225 top-rated, blue-chip Japanese companies listed in the First Section of the Tokyo Stock Exchange (TSE), featuring such familiar company names as Sony, Honda, and more. The Nikkei 225 Index is price-weighted, so that higher-priced stocks have a greater percentage impact on the Index than lower-priced stocks.
For more details on the Nikkei Stock Average and its construction, visit the Nikkei Web site.
| Industry Links Nikkei web site |
Learning Links Equity Index Choices resource center CME Group Equity Index Product Suite resource center Monthly Stock Index Update Quarterly Roll Update: Q1 2008 (PDF) |
- Equity Index Price Limits
- Equity Index Products Research Center
- Equity Index Choices center
- EOM Options Fixing Price (ESF)
- Equity Fair Value Premiums
- Clearing & Trading Fees
- Performance Bonds/Margins
- Trading Hours
- Product & Vendor Codes
- Future Spreads on CME Globex
- Options Strategies on CME Globex
- CME Rulebook
- CBOT Rulebook
- Find-a-Broker
- Glossary
- Knowledge Center Home
- View Intra Day Block Trades
- Month-End FV Settlement Q&A