JPX Derivatives Market Highlights
January 1, 2016 ― December 31, 2016
Market Overview■ TOPIX and Trading Value of TSE 1st Section (Daily Average)
TOPIX(points)

2,500

TOPIX

Bankruptcy of Lehman Brothers(Sep 15, 2008)

Trading Value(trillion ¥)Trading Value (1st sec.)

U.S. Presidential Election（Nov 8, 2016）
Brexit Referendum（Jun 23, 2016）

Consumption Tax Increased from 5% to 8%(Apr 1, 2014)

2,000

Landslide Victory of the LDP(Dec 16, 2012)

1,500

5.0
4.0
3.0

1,000

2.0

500

1.0

0
06

07

08

09

10

11

12

13

14

15

0.0

16

Year

■ JGB Futures and Interest RateJGB Futures (¥)

170
165
160
155

10-year JGB Futures
20-year JGB Futures

10-year Interest Rate
20-year Interest Rate
Interest Rate (%)
Introduction of Yield Curve Control by BOJ (Sep 21, 2016) 3.0
Announcement of Negative
Quantitative and Qualitative Monetary Easing by BOJ (Apr 4, 2013)
Interest Rates by BOJ
2.5(Jan 29, 2016)
Additional QQE by BOJ
2.0(Oct 31, 2014)

1.5

150

1.0

Bankruptcy of Lehman
Brothers (Sep 15, 2008)

145

0.5

140
135
130
06

0.0

20-year JGB Futures Specs
Change（Jul 6, 2015）

07

08

09

10

11

12

13

14

Year

-0.5
15
16
*Source：Ministry of FinanceIndex Futures■ Nikkei 225 Futures ADV・Open Interest
Trading Vol.
(contracts)

180,000

Open Interest(contracts)

Trading Volume
Open Interest (End of Year/Month)

Others0.2%

800,000

160,000

700,000

140,000

600,000

120,000

Securities Firms
15.0%

500,000

100,000

400,000

80,000Foreign Investors
68.2%

300,000

60,00040,000200,000

20,000100,0000■ Trading Volume by Type of Investors (Nikkei 225 Futures)

06 07 08 09 10 11 12 13 14 15 1

Year

2

3

4

5

6

7

8

9 10 11 12

2016

City/Regional
Banks,etc.
0.8%
Trust Banks
2.2%
Insurance Firms
0.1%
Investment Trusts
4.4%
Business Firms
0.4%

0Individual
Investors
8.7%

Month

1

January, 2017

Index Futures■ Nikkei 225 mini ADV・Open Interest
Trading Vol.
(contracts)■ Trading Volume by Type of Investors (Nikkei 225 mini)
Open Interest(contracts)

Trading Volume
Open Interest (End of Year/Month)

1,800,000
1,600,000

700,000

1,400,000

600,000

1,200,000

400,000

800,000
400,000

200,000

200,000

100,000
06 07 08 09 10 11 12 13 14 15 1

2

3

4

5

Year

6

7

8

9 10 11 12

Month■ Trading Volume by Type of Investors (TOPIX Futures)Open Interest(contracts)

Trading Volume
Open Interest (End of Year/Month)

160,000

700,000

120,000

600,000

100,000

500,000

80,000400,000

60,000300,000

40,000200,000

20,000100,000
06 07 08 09 10 11 12 13 14 15 1

2

Others0.1%

800,000

140,000

3

4

Year

5

6

7

8

9 10 11 12

Individual
Investors
0.6%

0■ Trading Volume by Type of Investors (mini-TOPIX Futures)
Others0.1%

160,000

Investment
Trusts0.4%

120,000

20,000100,000

15,00080,0002016

Foreign Investors
84.0%

60,00010,00020,00008 09 10 11 12 13 14 15

1

2

3

4

5

Year

6

7

8

9

10 11 120Month

■ JPX-Nikkei 400 Futures ADV・Open Interest■ Trading Volume by Type of Investors (JPX-Nikkei 400 Futures)Open Interest(contracts)

Trading Volume (Monthly)Open Interest (End of Year/Monthly)

70,000Business Firms
0.2%
Individual
Investors
6.8%

40,0005,000

Others0.2%

300,000

60,000250,000

50,000

Securities Firms
21.9%

200,000

40,000150,000

30,000Foreign Investors
69.7%

100,000

20,00050,00010,0000

Securities Firms
7.4%
Trust Banks
1.0%

140,000

Trading Vol.
(contracts)

Investment
Trusts2.0%
Business Firms
0.1%

Open Interest(contracts)

25,00002016

Foreign Investors
77.4%

Month

Trading Volume
Open Interest (End of Year/Month)

30,000

Securities Firms
16.4%
City/Regional
Banks,etc.
0.3%
Trust Banks
2.5%
Insurance Firms
0.6%■ mini-TOPIX Futures ADV・Open Interest
Trading Vol.
(contracts)

City/Regional
Banks,etc.
0.1%
Trust Banks
0.1%
Investment
Trusts0.1%
Business Firms
0.4%
Individual
Investors
21.6%

0■ TOPIX Futures ADV・Open Interest
Trading Vol.
(contracts)

2016

Foreign Investors
72.4%

300,000

600,000

0

Securities Firms
5.4%

500,000

1,000,000

0

Others0.1%

800,000

14

15

Year

1

2

3

4

5

6

7

8

9

10

11

12

2016

Trust Banks
2.8%
Investment
Trusts3.6%
Business
Firms
0.1%

0

Individual
Investors
1.7%

Month

2

January, 2017

Index Futures■ TSE Mothers Index Futures ADV・Open Interest
Trading Vol.
(contracts)

Trading Volume
Open Interest (End of Year/Month)

1,400■ Trading Volume by Trade Type of Investors (TSE Mothers Index Futures)Open Interest(contracts)

Others
0.1%

5,000

1,200

4,000

800

3,000

600

2,000

Securities Firms
41.4%

Foreign Investors
21.1%

1,000

2016
Trust Banks
0.1%

400
1,000

200
0

7

8

9

10

11

0

12

Investment
Trusts1.0%

Individual
Investors
35.1%

Business
Firms
1.3%

2016

■ Nikkei 225 VI Futures ADV・Open Interest
Trading Vol.
(contracts)

Trading Volume
Open Interest (End of Year/Month)

1,200

Others
0.1%

8,000
7,000

1,000

6,000

800

Foreign Investors
35.9%

5,000
4,000

600

2016

3,000

400

2,000

200
0

■ Trading Volume by Type of Investors (Nikkei VI Futures)Open Interest(contracts)

Individual
Investors
5.1%

1,000
12

13

14

15

1

2

3

4

5

Year

6

7

8

9

10

11

12

0

Business Firms
0.1%

Month

■ DJIA Futures ADV・Open Interest
Trading Vol.
(contracts)■ Trading Volume by Trade Type of Investors (DJIA Futures)Open Interest(contracts)

Trading Volume
Open Interest (End of Year/Month)

500

2,000

300

1,500

200

1,000

100

500

12

13

14

15

1

2

3

4

5

Year

Others
0.2%

2,500

400

0

6

7

8

9

10

11

12

Individual
Investors
45.0%0■ TSE REIT Index Futures ADV・Open Interest
Trading Vol.
(contracts)

Open Interest(contracts)

160,000

800

140,000

700

120,000

600

2,500

100,000

500

Open Interest(contracts)

Trading Volume
Open Interest (End of Year/Month)

25,0002,000

20,0001,500

15,0001,000

10,000500

5,000

80,000400

60,000300
200

40,000100

20,00002016

Foreign Investors
51.4%

Month

Trading Volume
Open Interest (End of Year/Month)

900

Securities Firms
1.8%
Business Firms
1.7%■ Nikkei 225 Dividend Index Futures ADV・Open Interest
Trading Vol.
(contracts)

Securities Firms
59.0%

10

11

12

13

Year

14

15

1

2

3

4

5

6

7

8

9

10

11

12

0

0

Month

08 09 10 11 12 13 14 15

Year

3

1

2

3

4

5

6

7

8

9

10 11 120

MonthJanuary, 2017

Index Options■ Nikkei 225 Options ADV・Open Interest
Trading Vol.
(contracts)

Trading Volume (Put)Trading Volume (Call)
Open Interest (End of Year/Month)

300,000■ Trading Volume by Type of Investors (Nikkei 225 Options)

Open Interest(contracts)

Others0.2%

4,000,000

Securities Firms
13.0%
City/Regional
Banks,etc.
1.0%

3,500,000

250,000

3,000,000

200,000

Trust Banks
0.8%

2,500,000
2,000,000

150,000

Foreign Investors
73.7%

1,500,000

100,000
50,000006 07 08 09 10 11 12 13 14 15 1

2

3

4

5

Year

6

7

8

9 10 11 12

1,000,000

Investment
Trusts0.1%

500,000

Business Firms
0.8%

0Individual
Investors
10.4%

Month

■ Nikkei 225 Weekly Options ADV・Open Interest
Trading Vol.
(contracts)

1,600■ TOPIX Options ADV・Open Interest

Open Interest(contracts)

Trading Volume (Put)Trading Volume (Call)
Open Interest(End of Year/Month)

1,800

Trading Vol.
(contracts)

3,500

1,800

3,000

1,400

1,200

40,000900

30,000600

20,000500

300

10,000

0

0

2,000

800

1,500
1,000

400
200
15

1

2

3

4

5

Year

6

7

8

9

10

11

12

60,00050,0001,000
600Open Interest(contracts)

Trading Volume (Put)Trading Volume (Call)
Open Interest (End of Year/Month)

1,500

2,500

1,200

0

Insurance
Firms
0.1%

2016

06 07 08 09 10 11 12 13 14 15 1

Month

2

3

4

Year

5

6

7

8

9 10 11 12

0

Month

Single Stock Options■ Trading Volume by Trade Type of Investors (Single Stock Options)■ Single Stock Options ADV・Open Interest
Trading Vol.
(contracts)

Open Interest(contracts)

Trading Volume (Put)Trading Volume (Call)
Open Interest(End of Year/Month)

9,000
8,000

600,000
500,000

7,000
6,000
5,000

300,000

4,000

2016

Securities Firms
40.3%

200,000

3,000
2,000

Individual
Investors
16.5%

100,000

1,000
0Foreign Investors
25.9%

400,000

06 07 08 09 10 11 12 13 14 15 1

2

3

4

Year

5

6

7

8

9 10 11 12

Business
Firms
17.2%

0

Month

■ Trading Volume by Underlying Securities（2016）
Rank Code

Underlying Security

Trading
Volume

Share

1

8411

Mizuho Financial Group, Inc.

76,285

8.3%

2

1802

OBAYASHI CORPORATION

75,950

8.2%

3

5108

BRIDGESTONE CORPORATION

61,146

6.6%

4

1343

NEXT FUNDS REIT INDEX ETF

61,000

6.6%

5

6758

SONY CORPORATION

54,717

5.9%

6

2914

JAPAN TOBACCO INC.

52,614

5.7%

7

8316

Sumitomo Mitsui Financial Group, Inc.

51,423

5.6%

8

9437

NTT DOCOMO, INC.

49,829

5.4%

9

7261

Mazda Motor Corporation

40,190

4.4%

10

6752

Panasonic Corporation

33,605

3.6%■ HV (Top 3 Trading Volume by Underlying Securities)
HV(20d,%)

100

Mizuho Financial Group,Inc.
（8411）OBAYASHI CORPORATION（1802）BRIDGESTONE CORPORATION（5108）

80
60
40
20
0

4

14

15

Year

16

January, 2017

JGB Futures■ 10-year JGB Futures ADV・Open Interest
Trading Vol.
(contracts)

Trading Volume
Open Interest (End of Year/Month)

60,000

Others1.4%

140,000

100,000

40,00080,00030,0002016

Foreign Investors
49.9%

60,00020,00040,00010,00020,00006 07 08 09 10 11 12 13 14 15 1

2

3

4

5

6

Year

7

8

9 10 11 12

0

Bankｓ
12.1%

Month

■ mini-10-year JGB Futures ADV・Open Interest
Trading Vol.
(contracts)■ 20-year JGB Futures ADV・Open Interest

Open Interest(contracts)

Trading Volume
Open Interest (End of Year/Month)180

Trading Vol.
(contracts)

700

160

12

500

10

100

400

8

80

300

6

200

4

100

2

0

0

120

60
40
20
11

12

13

14

15

1

2

3

4

5

6

Year

7

8

9

10

11

12

Month

Open Interest(contracts)

Trading Volume
Open Interest (End of Month)

14

600

140

0

Securities Firms
36.6%

120,000

50,0000■ Trading Volume by Type of Investors(10-year JGB Futures)Open Interest(contracts)

300
250
200
150
100
50

15

1

2

3

4

Year

5

6

7

8

9

10

11

12

0

Month

Options on JGB Futures■ Trading Volume by Type of Investors(Options on JGB Futures)■ Options on JGB Futures ADV・Open Interest
Trading Vol.
(contracts)

14,00012,000Open Interest(contracts)

Trading Volume (Put)Trading Volume (Call)
Open Interest (End of Year/Month)

Others0.5%

25,000

Securities Firms
18.4%

20,00010,0008,000

15,000

6,000

10,0002016

Foreign Investors
60.4%

Bankｓ
20.6%

4,000
5,000

2,000
06 07 08 09 10 11 12 13 14 15 1

2

3

Year

4

5

6

7

8

9 10 11 12

0

Month

■ Monthly Trading Volume and Exercise Volume■ S&P/JPX JGB VIX・10-year JGB Futures
S＆P/JPX
JGB VIX

7%

156

120,000

154

6%

150

4%

148

3%

146

15

Year

16

ＣＡＬＬ

2,000
0
2,000
4,000

80,000138

120,000

5

6,000
4,000

40,000

140
14

8,000

0

142

1%

Exercise Vol.
(contracts)

Trading Vol. (PUT)
Exercise Vol. (PUT)

40,000144

2%

Trading Vol. (CALL)
Exercise Vol. (CALL)

80,000

152

5%

0%

Trading Vol.
(contracts)

Price
（¥）

S＆P/JPX JGB VIX
10-year JGB Futures

ＰＵＴ
14

15

Year

16

6,000
8,000

January, 2017

Contract Specifications
Product

Trading Hours
AuctionBlock

Nikkei 225 Futures

Tick Size (point/¥)
Auction
Block
10

Unit

No. ofMargin per Unit (¥)
Contract
Months (As of the end of Dec. 2016)＊ 1,000

13

Vendor CodeBloomberg
Reuters¥840,000

NKA<INDEX>

0#JNI:

QUICK
101.555

Nikkei 225 mini

5

＊ 100

16

¥84,000

NOA<INDEX>

0#JNM:

111.555

TOPIX Futures

0.5＊ 10,000

5¥660,000

TPA<INDEX>

0#JTI:

151.555

mini-TOPIX Futures

0.25＊ 1,000

3¥66,000

TMIA<INDEX>

0#JTM:

159.555

JPX-Nikkei 400 Futures

5

＊ 100

5

¥59,000 JPWA<INDEX>

0#JN4F:105.555

TSE Mothers Index
Futures

1 (*1)＊ 1,000

5¥74,500 MROA<INDEX>

0#JMI:

154.555

TOPIX Core30 Futures

0.5＊ 1,000

3¥33,000 TPCA<INDEX>

0#JTC:

171.555

TSE REIT Index Futures

0.5＊ 1,000

3¥86,000 TREA<INDEX>

0#JRT:

155.555

0.1＊ 10,000

3¥157,000TZA<INDEX>0#JBK:

348.555＊ 10,000

5¥490,000AZA<INDEX>

0#JRN:

140.555

TOPIX Banks Index
Futures
RN Prime Index Futures

8:45-15:15
8:20-16:00
16:30- 5:30 16:15- 5:30

0.5

0.0001

Nikkei 225 Dividend
Index Futures

0.1＊ 1,000

8 (*2)¥10,500

INTA<INDEX>

0#JND:

112.555

TOPIX Dividend Index
Futures

0.01＊ 10,000

8 (*2)¥9,200

TDIA<INDEX>

0#JTD:

178.555

TOPIX Core30 Dividend
Index Futures

0.01＊ 10,000

8 (*2)¥8,300 TCDA<INDEX>

0#JRD:

179.555

DJIA Futures

1

＊ 100

4

¥50,300 ODAA<INDEX>

0#JDI:

144.555

India Nifty50 Futures

1

＊ 100

3

¥21,800 ONYA<INDEX>

0#JNF:

146.555

FTSE China 50 Index
Futures

5

＊ 100

4

¥66,000 OFCA<INDEX>

0#JFC:

148.555

1

＊ 100

5

¥24,600 OFTA<INDEX>

0#TJW:

147.555

0.05＊ 10,000

8¥40,000

JVIA<INDEX>

0#JNV:

145.555

0.01＊ 1,000,000

3¥340,000JJA<CMDTY>

0#JMB:

604.555

0.01＊ 1,000,000

3¥720,000JBA<CMDTY>

0#JGB:

601.555

0.005＊ 100,000

3¥72,000 MJBA<CMDTY>

0#JGM:

611.555

0.01＊ 1,000,000

3¥2,580,000 JJAA<CMDTY>

0#JTB:

602.555

Unit

No. ofContract
MonthsMinimum No. of
Exercise Prices

Vendor CodeBloomberg
Reuters

QUICK

1933（ATM±16）

NKY<INDEX>OMONNearest4 weekly
contracts(except
for the2nd
Friday)17（ATM±8）

Week1
Week1
WNKYA <Index> 0# JNI1W*.OS
Week3
Week3
WNKYC <Index> 0# JNI3W*.OS
OPW@
Week4
Week4
WNKYD <Index> 0# JNI4W*.OS
Week5
Week5
WNKYE <Index> 0# JNI5W*.OSTAIEX Futures

8:45-15:15

Nikkei 225 VI Futures

9:00-15:15
8:20-16:00
16:30-19:00 16:15-19:00

N/A

5-year JGB Futures

10-year JGB Futuresmini-10-year JGB
Futures

8:45-11:02
8:20-15:15
12:30-15:02
15:25- 5:30
15:30- 5:30

20-year JGB Futures

0.0001(*1) 0.5 points until March 31, 2017.
(*2) 9 contract months between Jan. to Mar.

Product

Trading Hours
AuctionBlock

Tick Size (point/¥)
Auction
Block

Regular
Options

Nikkei 225
Options<depending on theoption price>¥50 or less : 1
more than ¥50 but¥1,000 or less : 5
more than ¥1,000 : 10

WeeklyOptions

9:00-15:15
8:20-16:00
16:30- 5:30 16:15- 5:30

＊ 1,000

0.0001

TOPIX Options<depending on theoption price>
20pts or less : 0.1
more than 20pts: 0.5＊ 10,00019<depending on theremaining trading
period>4 months or less :19 (ATM±9)more than 4 months: 13 (ATM±6)

JPX-Nikkei
400 Options<depending on theoption price>
50pts or less : 1
more than 50pts : 5＊ 1,000

19

Single Stock Options

9:00-11:35
12:30-15:15

Options on JGB Futures

8:45-11:02
8:20-15:15
12:30-15:02
15:25- 5:30
15:30- 5:30

8:20-16:00

depending on theoption price0.01<dependingon thetrading unit
＊ minimumof thetrading unit
underlying>of theeven number
underlying: 0.1
odd number:1

0.0001

6

英語版：06【PDFX4】.indd 6＊ 1,000,000

TPX<INDEX>OMON

0#JNI*.OS

OP2@

0#JTI*.OS

OPT@

17 (ATM±8)

JPNK400<INDEX>
0#JN4O*.OS
OMON

OP4@

4

5 (ATM±2)(security code) 0#(security
KO@15<EQUITY>OMON code)*.OS

3～4

21 (ATM±10)

JBA<CMDTY>OMON

0#JGB+

GB@

January, 20172017/02/23 14:04

Trading Fees
Products

Nikkei 225 Futures

Nikkei 225 mini

TOPIX Futures

Exchange Trading Fees

Regular Trade

Regular Trade

Regular Trade

Volume Discount Table (*1)
(Trading Volume) (Prop)｜(Customer)
10,000 or less：¥ 70｜¥110
10,001 - 50,000：¥ 35｜¥ 70
50,001 - 100,000：¥ 20｜¥ 40
100,001 or more：¥ 15｜¥ 30
Volume Discount Table (*1)
(Trading Volume) (Prop) ｜(Customer)
100,000 or less：¥ 7 ｜¥ 11
100,001 - 500,000：¥ 6 ｜¥ 8
500,001 - 1,000,000：¥ 4 ｜¥ 6
1,000,001 or more：¥ 3.5｜¥ 4.5
Volume Discount Table (*1)
(Trading Volume) (Fee)100,000 or less：¥ 55
100,001 - 300,000：¥ 35
300,001 or more：¥ 30

mini-TOPIX Futures
TSE Mothers Index Futures
TOPIX Core30 Futures
TSE REIT Index Futures

Regular Trade¥7 per contract

JPX-Nikkei 400 Futures

Regular Trade¥7 per contract

TOPIX Banks Index
Futures

Regular Trade¥55 per contract

Nikkei 225 Dividend Index
Futures
TOPIX Dividend Index
Futures
TOPIX Core30 Dividend
Index Futures

Regular Trade

Nikkei 225 VI Futures

Regular Trade¥7 per contract (currently discounted from the feeson the volume discount (*1))(Trading Volume) (Fee)5,000 or less：¥ 40
5,001 or more：¥ 20¥80 per contract

DJIA Futures
India Nifty50 Futures
FTSE China 50 Index Futures
TAIEX Futures

Regular Trade¥40 per contract

RN Prime Index Futures

Regular Trade¥29 per contract

Regular Trade¥95 per contract

10-year JGB Futures
5-year JGB Futures
20-year JGB Futuresmini-10-year JGB Futures

Nikkei 225
Options

Regular
Options

WeeklyOptions
TOPIX Options
JPX-Nikkei 400 Options
Single Stock Options
Options on JGB Futures（Reference）Clearing Fees of JSCC
Regular Trade¥ 20 per contract

SQ Settlement¥130 per contract

Regular Trade¥ 2 per contract

SQ Settlement¥ 13 per contract

Regular Trade¥ 20 per contract

SQ Settlement¥ 57 per contract

Regular Trade¥ 2 per contract

SQ Settlement¥ 6 per contract

Regular Trade¥ 2 per contract

SQ Settlement¥ 13 per contract

Regular Trade¥ 20 per contract

SQ Settlement¥ 57 per contract

Regular Trade¥ 10 per contract

SQ Settlement¥ 30 per contract

Regular Trade¥ 20 per contract

SQ Settlement¥100 per contract

Regular Trade¥ 5 per contract

SQ Settlement¥ 45 per contract

Regular Trade¥ 16 per contract

SQ Settlement¥ 45 per contract

Regular Trade

Trade by Exerciseof Options on JGB ¥82 per contract
Futures

Trade by Exercise ¥ 49 per contractof Options on JGB
Futures

Physical Delivery

Physical Delivery¥132 per contract

Regular Trade¥ 5 per contract

Final Settlement¥ 15 per contract

Regular Trade

0.5 bps per Trading Value (*3)

¥10 per contract

Regular Trade¥20 per contract

Regular Trade

Volume Discount Table (*1) (*2)(Trading Value)(Fee)¥ 10 bil. or less ： 5.0 bps
more than ¥ 10 bil. - ¥ 25 bil. ： 3.5 bps
more than ¥ 25 bil. - ¥ 35 bil. ： 2.5 bps： 1.5 bps
more than ¥ 35 bil. -Regular Trade
Regular Trade
Regular Trade
Regular Trade

Exercise
Regular Trade¥40 per contract¥40 per contract¥130 per contract

Regular Trade¥ 10 per contract

Exercise
Exercise¥40 per contract¥ 10 per contract

Exercise

Regular Trade¥10 per contract (*4)

5.5 bps per amount of money transferredby exercise of options contract (*3)

¥ 10 per contract¥ 10 per contract (*4)
¥ 10 per contract (*4) (*5)

Regular Trade¥ 10 per contract

Exercise¥ 10 per contract(*1) Volume discount is applied based on the monthly average trading volume or value over the three months from the month four months prior to the object month offee calculation to the month two months prior to the object month of fee calculation.
(*2) The maximum fee is ¥ 350 per trading unit. The minimum fee is ¥ 5 per trading unit.
(*3) The maximum clearing fee is ¥ 35 per trading unit for regular trades and ¥ 385 per trading unit for exercises.
(*4) Trading fees and clearing fees will be changed on March 1, 2017. The new fees are shown below.
（Trading unit of the underlying security）
		
less than 10 ： ¥1 per contract
more than or equal to 10 but less than 100 ： ¥5 per contract		
more than or equal to 100 ： ¥10 per contract(*5) Clearing fees for cash trading (trading value of cash trading by exercise × 0.04 bp) will be required additionally.
Note: Give-up fees (¥ 5 per contract) will be charged on the clearing broker. For Nikkei 225 mini, mini-TOPIX Futures, JPX-Nikkei 400 Futures, TSE Mothers Index
Futures, TOPIX Core30 Futures, TSE REIT Index Futures, Dividend Index Futures, and mini-10-year JGB Futures, give-up fees are ¥ 1 per contract.

7

January, 2017

Trading Data (2016)
Products

Trading Volume

ChangeNikkei 225 Futures

26,765,460
233,940,373
22,560,705
2,955,098
7,370,575
54,171
5,440
253,607
33,001
19,30578,08863,800536
204
34,020,078
256,350
145,716480
922,341
7,383,298
5,742
843
958,472
337,537,333-3.3%
452,588,926-5.3%
394,311,643+1.2%
307,051,338-31.5%
4,017,382-29.6%
9,007,751−
49,514+14.0%
3,524+44.5%
463,376+46.0%
57,839+207.8%6,640-64.2%
21,806-14.9%
113,567-86.4%
410−
184-10.5%
7,272,875+36.1%
13,774-55.8%
33,678−89+10.5%
6,498-14.9% 1,117,995,156-85.8%
86,843-71.7%
128,854-16.1%
129,396-6.6% 2,293,347,288

Nikkei 225 mini
TOPIX Futuresmini-TOPIX Futures
JPX-Nikkei 400 Futures
TSE Mothers Index Futures
Futures

TOPIX Core30 Futures
TSE REIT Index Futures
TOPIX Banks Index Futures

EquityNikkei 225 Dividend Index Futures
Nikkei 225 VI Futures
DJIA Futures
India Nifty50 Futures
TAIEX Futures
Nikkei 225 Options
Weekly Options
Options

TOPIX Options
JPX-Nikkei 400 Options
Single Stock Options
10-year JGB Futures

Bond

Futuresmini-10-year JGB Futures

Options

Options on JGB Futures

20-year JGB Futures
Total

Trading Value Exercise Volume Open Interest

−
−
−
−
−
−
−
−
−
−
−
−
−
−
1,178,670
17,051
18,720076,479−−−37,854
1,311,723

449,752
579,972
562,31343,575150,272
4,343
280
16,976
10,291
16,915
1,510
642
0
0
1,921,179
1,222
46,6410
32,54380,83947
199,997
3,928,106(contracts, million ¥)Trading Records
Nikkei 225 Futures
2016(Contracts, ¥)TOPIX Futures

Historical(Date)(Contracts, ¥)(Date)

2016(Contracts, Points)(Date)

10-year JGB Futures

Historical(Contracts, Points)(Date)

2016(Contracts, ¥)(Date)

Historical(Contracts, ¥)(Date)

548,073 (Dec  6, 2016) 739,909 (Dec  7, 1999) 780,905 (Dec  6, 2016) 780,905 (Dec  6, 2016) 121,978 (Jun  8, 2016) 211,110 (Jun  7, 2007)
Lowest Daily Trading Volume
32,632 (Dec 26, 2016)
0 (Jan 31, 1994) 30,349 (Aug 30, 2016)
0 (Jan 31, 1994)
7,521 (Dec 27, 2016)
0 (Oct 25, 1985)
Highest Open Interest 644,385 (Mar  9, 2016) 684,617 (Mar 14, 2008) 681,184 (Mar  8, 2016) 816,960 (Jun 10, 2015) 109,664 (Jan 21, 2016) 310,415 (Feb  8, 2000)
Lowest Open Interest 358,812 (Sep  9, 2016)
10,450 (Sep  9, 1988) 398,566 (Sep 12, 2016) 11,183 (Dec  8, 1988) 54,011 (Sep 14, 2016) 14,585 (Dec 12, 1985)
Highest Price
19,620 (Dec 21, 2016) 39,820 (Dec 27, 1989) 1,562.5 (Dec 16, 2016) 2,956.0 (Dec 18, 1989) 154.01 (Jul  28, 2016) 154.01 (Jul  28, 2016)
Lowest Price
14,790 (Jun 24, 2016)
6,830 (Oct 28, 2008) 1,186.0 (Feb 12, 2016)
687.0 (Mar 13, 2009) 148.99 (Jan  4, 2016)87.08 (Sep 27, 1990)
Highest Daily Trading Volume

Contact
Osaka Exchange Derivatives Business Development Dept.

Singapore Branch

London Representative Office

Beijing Representative Office

New York Representative OfficeHong Kong Representative Office

Tel:+81-(0)-50-3377-8645
Tel:+44-(0)-20-7329-2155
Tel:+1-212-363-2350

mkt-dept@jpx.co.jp

admin@jpxldn.co.uk

Tel:+65-6438-5100

Tel:+86-10-8517-1128

contact@jpxnyrep.com

Tel:+852-3796-7010

mkt-dept@jpx.co.jp
tsebjrep@tsebjrep.com.cn
mkt-dept@jpx.co.jp

Disclaimer: The descriptions in this publication are intended solely for the purpose of providing information on futures and options. Losses may be incurred due to fluctuation of prices of futures and/or options, etc. and the entire
deposited margin or a portion of such may be lost. Losses may also exceed the deposited margin. Investors must carefully review the documents provided by their financial services provider before trading futures and/or options, andmust trade on their own responsibility based on their own judgment only after fully understanding the product qualities, the trading mechanism, relevant fees, the risk involved, etc. While very effort is taken to ensure the accuracy of
the information contained in this publication, Osaka Exchange, Inc. shall not guarantee and be liable for any damages caused by any errors or omissions in this publication. Osaka Exchange, Inc. subsidiaries reserve the right tochange the contents of this publication without prior notice. ■"JPX-Nikkei Index 400" (JPX-Nikkei 400) is a copyrighted work calculated by methods independently developed by Japan Exchange Group, Inc. (JPX), Tokyo Stock
Exchange, Inc. (TSE) and Nikkei Inc. (Nikkei). JPX, TSE and Nikkei own copyrights and any other intellectual property rights to the JPX-Nikkei 400 and the methods used to calculate the JPX-Nikkei 400. All the business and trading
regulations on futures contracts based on JPX-Nikkei 400 shall be managed under the responsibilities of Osaka Exchange, Inc. and its participants. Accordingly, JPX, TSE and Nikkei, which manage the JPX-Nikkei 400 shall notassume any obligations or responsibilities for related business and trading regulations. JPX, TSE and Nikkei shall not be obligated to continuously publish the JPX-Nikkei 400. JPX, TSE and Nikkei shall not be liable for any error,
delay or discontinuation of publication of JPX-Nikkei 400. JPX, TSE and Nikkei shall have the right to make any changes in component stocks, calculation methods and any other elements or contents of the JPX-Nikkei 400. JPX,TSE and Nikkei shall also have the right to discontinue publishing the JPX-Nikkei 400. ■The "Dow Jones Industrial AverageSM" is a product of Dow Jones Indexes, the marketing name and a licensed trademark of CME GroupIndex Services LLC ("CME Indexes") and has been licensed for use. "Dow Jones®", "Dow Jones Industrial AverageSM" and "Dow Jones Indexes" are service marks of Dow Jones Trademark Holdings, LLC ("Dow Jones"), andhave been licensed to CME Indexes and sublicensed to and for use for certain purposes by the Osaka Exchange, Inc.. Dow Jones Industrial Average (DJIA) Futures based on the Dow Jones Industrial AverageSM are not sponsored,
endorsed, sold or promoted by CME Indexes, Dow Jones or their respective affiliates, and CME Indexes, Dow Jones and their respective affiliates make no representation regarding the advisability of trading in such product (s).
■TWSE Capitalization Weighted Stock Index is calculated by Taiwan Stock Exchange Corporation. Taiwan Stock Exchange Corporation does not sponsor, endorse or promote this product. All copyright in the index values andconstituent list vests in Taiwan Stock Exchange Corporation. Osaka Exchange, Inc. has obtained a licence from Taiwan Stock Exchange Corporation to use such copyright in the creation of this product. ■All rights in the FTSE
China 50 Index (the "Index") vest in FTSE International Limited ("FTSE"). "FTSE®" is a trade mark of the London Stock Exchange Group companies and is used by FTSE under licence. The FTSE China 50 Index Futures (the"Product") has been developed solely by Osaka Exchange, Inc. The Index is calculated by FTSE or its agent. FTSE and its licensors are not connected to and do not sponsor, advise, recommend, endorse or promote the Productand do not accept any liability whatsoever to any person arising out of (a) the use of, reliance on or any error in the Index or (b) investment in or operation of the Product. FTSE makes no claim, prediction, warranty or representation
either as to the results to be obtained from the Product or the suitability of the Index for the purpose to which it is being put by Osaka Exchange, Inc. ■Osaka Exchange, Inc. , Japan Exchange Group, Inc. and S&P Dow Jones
Indices LLC ("S&P DJI") calculate and publish the S&P/JPX JGB VIX Index based on the volatility of 10-year JGB Futures contract in accordance with, as a general rule, the methods described in the white paper. When an eventthat is not specified in the document occurs, or if Osaka Exchange, Inc. , Japan Exchange Group, Inc. and S&P DJI decide that it is difficult to use the methods described in the document, Osaka Exchange, Inc. , Japan ExchangeGroup, Inc. and S&P DJI may use an alternative method of index calculation as they deem appropriate. Information expressed in the document is subject to change without notice and in those cases Osaka Exchange, Inc. , Japan
Exchange Group, Inc. and S&P DJI undertake no obligation to notify users of the document of such changes. Osaka Exchange, Inc. , Japan Exchange Group, Inc. and S&P DJI may delay or terminate calculation of the S&P/JPXJGB VIX Index as a result of system failure, power failure, natural disaster, maintenance work, or any other reason. Osaka Exchange, Inc. , Japan Exchange Group, Inc. and S&P DJI will not accept any responsibility for any damage
or loss arising from delayed transmission or inability to transmit information. Osaka Exchange, Inc. , Japan Exchange Group, Inc. and S&P DJI provide no assurance regarding the accuracy or completeness of the S&P/JPX JGB VIX
Index. OSE, JPX and S&P DJI shall not be liable for the miscalculation or incorrect publication of the S&P/JPX JGB VIX Index and will not accept any responsibility for any decisions made based on the use of this information.

Copyright © Osaka Exchange, Inc. 2017 All rights reserved.

8

January, 2017