OSE Nikkei 300 Futures

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OSE Nikkei 300 futures and futures options trade on the Osaka Securities Exchange (OSE). They were launched in February 1994. The Nikkei 300 is the stock index that Nikkei Inc. composed with shares of 300 companies listed on Japanese stock exchanges.

In 2007, OSE Nikkei 300 futures traded 81,904 contracts and OSE Nikkei 300 futures options traded only 160 contracts.

OSE Nikkei 300 futures
Exchange	Osaka Securities Exchange
Settlement	Cash settled
Contract Size	Nikkei 300 x ¥10,000
Pricing Unit	10,000 yen
Tick Value	¥1,000 per contract
Contract Months	5 months in the March quarterly cycle: Mar, Jun, Sep, Dec (Maximum trading period: 1 year & 3 months)
Last Trading Day	The buisiness day preceding the second Friday of each contract month (When the second Friday is a non-business day, it shall be the preceding business day.) Trading in a new contract month begins on the business day following the last trading day.
Note: This contract is electronic ONLY -- no open outcry
	No Open Outcry	Electronic
Trading Hours	N/A	9:00 - 11:00, 12:30 - 15:15, 16:30 - 19:00 JST; (9:00 - 11:15 on a half-trading day)
Ticker Symbol	N/A	N/A
Price Limits	N/A	Contracts of less than 200 (points) = 30 (points) up/down limit Contracts from 200 (points) - less than 250 = 40 (points) up/down limit Contracts from 250 (points) - less than 300 = 50 (points) up/down limit Contracts from 300 (points) - less than 350 = 60 (points) up/down limit Contracts from 350 (points) - less than 400 = 70 (points) up/down limit Contracts from 400 (points) - less than 450 = 80 (points) up/down limit Contracts from 450 (points) - less than 500 = 90 (points) up/down limit Contracts from 500 (points) or more = 100 (points) up/down limit
OSE Nikkei 300 options
Trade Unit	One futures contract
Point Value	10,000 yen (1 yen)
Tick Value	1,000 yen (0.1 yen)
Option Months	6 months from the March quarterly cycle plus 2 near-term months which do not overlap the March cycle
Strike Prices	25-point intervals in integer multiples of 25 points based on Nikkei 300 for expiration months in the March quarterly cycle (5-point intervals when the remaining trading period becomes four months) 5-point intervals in integer multiples of 5 points for other expiration months
Exercise Style	European
	No Open Outcry	Electronic
Trading Hours	N/A	9:00 - 11:00, 12:30 - 15:15, 16:30 - 19:00 JST (9:00 - 11:15 on a half-trading day)
Ticker Symbol	N/A	N/A
Price Limits	N/A	Contracts of less than 200 (points) = 30 (points) up/down limit Contracts from 200 (points) - less than 250 = 40 (points) up/down limit Contracts from 250 (points) - less than 300 = 50 (points) up/down limit Contracts from 300 (points) - less than 350 = 60 (points) up/down limit Contracts from 350 (points) - less than 400 = 70 (points) up/down limit Contracts from 400 (points) - less than 450 = 80 (points) up/down limit Contracts from 450 (points) - less than 500 = 90 (points) up/down limit Contracts from 500 (points) or more = 100 (points) up/down limit