JPX Derivatives Market Highlights
January 1, 2014～June 30, 2014
Price Movement■ TOPIX and Trading Value of TSE 1st Section (Daily Average)
TOPIX
Trading Value (1st sec.)(points)
2,500

The exit of QE by BOJ (2006/3/9)

TOPIX

Trading Value(tln yen)

Bankruptcy of Lehman
Brothers (2008/9/15)

4.0

2,000

5.0

Liberal Democratic Party
won the election of theHouse of Representatives(2012/12/16)

1,500

3.0
2.0

1,000

1.0

500
0
04

05

06

07

08

09
Year

■ Trading Volume of Derivatives Market
Trading Volume(10 thou contract)

10

11

0.0

12

13

14

12

13

14
（1-6）

Trading Volume (ADV)

160
140
120
100

n 450

ha
More t

80
60

th in
% growrs

10 yea

40
20
0

04

05

06

07

08

■ JGB Futures and Interest Rate
20-year JGB Futures (¥)
10-year JGB Futures (¥)

09
Year

10-year JGB Futures
20-year JGB Futures

210 160101110-year Interest Rate
20-year Interest Rate

10-year, 20-year Interest Rate (%)
Introduction of Quantitativeand Qualitative Monetary
Easing by BOJ (2013/4/4)

The exit of Zero Interest
Rate Policy by BOJ(2006/7/14)

205 155

3.0
2.5

200 150

2.0

195 1451.5

190 1401.0

185 135
180 13004

0.5

Bankruptcy of Lehman
Brothers (2008/9/15)

05

06

07

08

09
Year

1

10

11

12

0.0
13
14
*Source：Ministry of FinanceJuly, 2014

Index Futures■ Nikkei 225 Futures ADV・Open Interest
Trading Volume(Contracts)

Trading Volume
Open Interest (End of Year/Month)

160,000■ Trading Volume by Trade Type of Investors (Nikkei 225 Futures)Open Interest(contracts)

Others0.8%

800,000

Securities Firms
13.2%

140,000

700,000

Trust Banks
2.6%

120,000

600,000

100,000

500,000

Insurance Firms
0.1%

80,000400,000

60,000300,000

40,000200,000

20,000100,000

0

04

05

06

07

08

09

10

11

12

13

1

2

Year

3

4

5

6

Foreign Investors
71.1%

0

Individual
Investors
10.2%

Month

■ Trading Volume by Trade Type of Investors (Nikkei 225 mini)
Open Interest(contracts)

Trading Volume
Open Interest (End of Year/Month)

1,200,000

Others0.1%

800,000

Business Firms
0.4%

600,000

800,000

500,000

600,000

400,000

Jan.〜Jun.
2014

Foreign Investors
71.0%

300,000

400,000

100,000
06

07

08

09

10

11

12

13

1

2

3

Year

4

5

6

0

Month

■ TOPIX Futures ADV・Open Interest
Trading Volume(Contracts)■ Trading Volume by Trade 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
04

05

06

07

08

09

10

11

12

Others0.4%

800,000

140,000

13

1

2

Year

3

4

5

6

Trading Volume(Contracts)

Foreign Investors
75.3%

Jan.〜Jun.
2014

Insurance Firms
0.8%
Investment
Trusts1.3%
Individual
Investors
0.5%

0

Month

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

Trading Volume
Open Interest (End of Year/Month)

20,000

Securities Firms
18.7%
Trust Banks
3.0%■ mini-TOPIX Futures ADV・Open Interest

Securities Firms
9.3%
Trust Banks
0.4%

100,000
80,00015,000Investment
Trusts0.1%

60,00010,000Foreign Investors
87.0%

40,0005,000

0Individual
Investors
20.4%

200,000

200,000

0

Securities Firms
8.0%

700,000

1,000,000

0Investment
Trusts
1.4%
Business Firms
0.6%■ Nikkei 225 mini ADV・Open Interest
Trading Volume(Contracts)

Jan.〜Jun.
2014

Jan.〜Jun.
2014

Individual
Investors
3.2%

20,000

08

09

10

11

Year

12

13

1

2

3

4

5

6

0

Month

2

July, 2014

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

Trading Volume
Open Interest (End of Year/Month)500■ Trading Volume by Trade Type of Investors (Nikkei VI Futures)Open Interest(contracts)

Securities Firms
6.0%

3,000

Business Firms
0.1%

2,500

400

1,500
200

Jan.〜Jun.
2014

Foreign Investors
88.9%

1,000

100
0

Individual
Investors
5.0%

2,000

300

500

2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6

2012

2013

0

2014

■ Nikkei 225 Dividend Index Futures ADV・Open Interest
Trading Volume(Contracts)

Trading Volume
Open Interest (End of Year/Month)600■ Index Value of Nikkei Dividend Index
Index Value(point)Open Interest(contracts)

160,000

250

140,000

500

200

120,000

400

100,000

300(2011)
192.03(2010)
175.59(2013)
226.73(2012)
207.92(2014)
2014/6/30
120.32150

80,000100

60,000200

40,000100

50

20,000

0

10

11

12

13

1

2

3

Year

4

5

0

6

0

2010.04■ TSE REIT Index Futures ADV・Open Interest
Trading Volume(Contracts)

2010.10

2011.04

2011.102012.04

2012.102013.04

2013.102014.04

Month■ J-REIT (Cash) Market
Market Capitalization(tln yen)Open Interest(contracts)

Trading Value (bln yen)

8,000

40

8

800

6,000

30

6

600

4,000

20

4

2,000

10

2

0

0

Trading Volume
Open Interest (End of Year/Month)

1,400

10,0001,200

ADV (bln yen)
Market Capitalization

50

1,000

10

400
200
0

08

09

10

11

12

13

1

2

Year

3

4

5

6

07

08

09

10

11

12

13

1

2

3

4

5

6

0

Month

■ Trading Volume by Trade Type of Investors (DJIA Futures)Open Interest(contracts)

Others
0.1%

2,500

350

Securities Firms
0.7%
Business Firms
4.6%

2,000

300
250

1,500

200

Foreign Investors
50.9%

1,000

150
100

Jan.〜Jun.
2014

Individual
Investors
43.8%

500

50
0

06

Year

Trading Volume
Open Interest (End of Year/Month)

400

05

Month

■ DJIA Futures ADV・Open Interest
Trading Volume(Contracts)

04

5

6

7

8

9 10 11 12 1

2012

2

3

4

5

6

7

2013

8

9 10 11 12 1

2

3

4

5

6

0

2014

3

July, 2014

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

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

250,000■ Trading Volulme by Trade Type of Investors (Nikkei 225 Options)

Open Interest(contracts)

Others0.4%

4,000,000

200,000

Securities Firms
13.1%

3,500,000

Trust Banks
0.8%

3,000,000

Investment
Trusts0.1%

2,500,000

150,000

2,000,000
100,000

Jan.〜Jun.
2014

Foreign Investors
73.8%

1,500,000

Individual
Investors
10.9%

1,000,000

50,000500,000

0

04

05

06

07

08

09

10

11

12

13

1

2

Year

3

4

5

0

6

Month

■ TOPIX Options ADV・Open Interest
Trading Vol.
(contracts)■ Trading Volulme by Trade Type of Investors (TOPIX Options)
Open Interest(contracts)

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

2,500

Business Firms
1.0%

Securities Firms
9.0%

60,000

2,000
1,500

50,000Trust Banks
0.1%

40,000Insurance Firms
0.1%

30,000
1,000

Jan.〜Jun.
2014

Foreign Investors
90.7%

20,000500

10,000

0

04

05

06

07

08

09

10

11

12

13

1

2

Year

3

4

5

0

6

Month

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

Open Interest(contracts)

Trading Volume (Block Trade)
Trading Volume (Auction)
Open Interest (End of Year/Month)

12,000600,000

10,000500,000

8,000

400,000

6,000

300,000

4,000

200,000

2,000

100,000

0

04

05

06

07

08

09

10

11

12

13

1

2

Year

3

4

5

6

Securities Firms
33.5%

Business
Firms
2.0%

0

Individual
Investors
22.5%

Month

■ Trading Volume by Underlying Securities（Jan.〜Jun.2014）
Ranking CodeJan.〜Jun.
2014

Foreign Investors
42.0%

IssuesTrading
Volume

Share

1

8306

Mitsubishi UFJ Financial Group, Inc.

52,457

9.2%

2

8316

Sumitomo Mitsui Financial Group,Inc.

46,858

8.3%

3

1306

TOPIX Exchange Traded Fund

38,000

6.7%

4

6758

SONY CORPORATION

29,443

5.2%

5

8591

ORIX CORPORATION

24,365

4.3%

6

6762

TDK Corporation

24,167

4.3%

7

7267

HONDA MOTOR CO.,LTD.

23,808

4.2%

8

3382

Seven & I Holdings Co.,Ltd.

22,068

3.9%

9

7203

TOYOTA MOTOR CORPORATION

21,213

3.7%

10

2914

JAPAN TOBACCO INC.

20,210

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

80%

Mitsubishi UFJ Financial Group,Inc. (8306)
Sumitomo Mitsui Financial Group,Inc. (8316)
TOPIX Exchange Traded Fund (1306)

60%

40%

20%

0%
2011

4

2012

Year

2013

2014

July, 2014

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

Trading Volume
Open Interest (End of Year/Month)

60,000■ Trading Volume by Trade Type of Investors (10-year JGB Futures)Open Interest(contracts)

Securities Firms
35.6%

140,000
120,000

50,000Foreign Investors
53.2%

100,000

40,00080,00030,00020,00010,000
0

04

05

06

07

08

09

10

11

12

13

1

2

Year

3

4

5

6

40,000Trust Banks
0.3%

20,000

Other Financials
0.2%

0Insurance Firms
0.2%

1,400

300

1,200

250

1,000

200

800

150

600

100

400

50

200
11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6

2011

Trading Vol.
(contracts)

2012

2013

600

250

500

200

400

150

300

100

200

50

100

0

0

Open Interest(contracts)

Trading Volume
Open Interest (End of Month)

300

1,600

350

0

■ 20-year JGB Futures ADV・Open Interest

Open Interest(contracts)

Trading Volume
Open Interest (End of Month)

400

Bankｓ
10.3%

Month

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

Jan.〜Jun.
2014

Business Firms
0.1%

60,000

04/07

04/21

05/08

05/22

06/05

0

06/19

2014

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

Open Interest(contracts)

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

14,00012,000

Others0.7%

25,000

Securities Firms
13.4%

20,00010,0008,000

15,000

6,000

10,000Jan.〜Jun.
2014

Foreign Investors
67.7%

Bankｓ
18.2%

4,000
5,000

2,000
0

04

05

06

07

08

09

10

11

12

13

Year

1

2

3

4

5

6

0

Month

■ Monthly Trading Volume and Exercise Volume■ HV・IV
IV・HV

15%

Trading Vol.
(contracts)

JGBF-VI(pts)

HV
JGBF-VI10

150,000

8
10%

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

200,000

6

Exercise Vol.
(contracts)

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

20,000ＣＡＬＬ

15,000100,000

10,00050,000

5,000

0
4

5%

2

50,0005,000

100,000

10,000150,000
0%

11

12

13
Year

14

0

0

200,000

ＰＵＴ
1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6
2012

515,0002013

20,0002014

July, 2014

Contract Specifications
Products

Trading Hours
AuctionBlock Trade

Tick Size (point/¥)
Block
Auction
Trade

Unit

No. of Margin per Unit (¥)
Contract
Months (As of the end of Jun. 2014)

Vendor Codes
Bloomberg

Reuters

QUICK

Nikkei 225 Futures101＊ 1,000

13¥450,000

NKA<INDEX>

0#JNI:

101.555

Nikkei 225 mini

5

1

＊ 100

5

¥45,000

NOA<INDEX>

0#JNM:

111.555

TOPIX Futures

0.5

0.1

＊ 10,000

5¥330,000

TPA<INDEX>

0#JTI:

151.555

mini-TOPIX Futures

0.25

0.05

＊ 1,000

3¥33,000

TMIA<INDEX>

0#JTM:

159.555

JPX-Nikkei Index 400
Futures

5

1

＊ 100

5

-

to be decided

to bedecided105.555

TOPIX Core30 Futures

0.5

0.1

＊ 1,000

3¥17,000

TPCA<INDEX>

0#JTC:

171.555

TSE REIT Index Futures

0.5

0.1

＊ 1,000

3¥56,500

TREA<INDEX>

0#JRT:

155.555

0.1

0.1＊ 10,000

3¥77,000

TZA<INDEX>0#JBK:

348.555

RN Prime Index Futures

0.5

0.1

＊ 10,000

5¥245,000AZA<INDEX>

0#JRN:

140.555

Nikkei 225 Dividend
Index Futures

0.1

0.1

＊ 1,000

8(*1)¥4,000NKYDIV<INDEX>

0#JND:

112.555

TOPIX Dividend Index
Futures

0.01

0.01

＊ 10,0008(*1)¥10,500

TPXDIV<INDEX>

0#JTD:

178.555

TOPIX Core30 Dividend
Index Futures

0.01

0.01

＊ 10,000

8(*1)¥6,900 TPXC30D<INDEX>

0#JRD:

179.555

OSE DJIA Futures

1

1

＊ 100

4

¥29,400

ODAA<INDEX>

0#JDI:

144.555

CNX Nifty Futures

1

1

×100

3

¥23,200

ONYA<INDEX>

0#JNF:

146.555

0.05

0.01

＊ 10,0008¥44,000

JVIA<INDEX>

0#JNV:

145.555

0.01

0.01 ＊ 1,000,000

3¥60,000JJA<CMDTY>

0#JMB:

604.555

0.01

0.01 ＊ 1,000,000

3¥300,000JBA<CMDTY>

0#JGB:

601.555

0.005

0.005

＊ 100,000

3¥30,000

MJBA<CMDTY>

0#JGM:

611.555

0.05

0.01 ＊ 1,000,000

3¥1,250,000

JJAA<CMDTY>

0#JTB:

602.555

TOPIX Banks Index
Futures

Nikkei 225 VI Futures

9:00～15:15
16:30～3:00

9:00～15:15

8:20～16:00
16:15～3:00

8:20～16:00

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

8:45～11:02
12:30～15:02
15:30～3:00

8:20～15:15
15:25～3:00

20-year JGB Futures(*1) 9 contract months between Jan. to Mar.
Products

Nikkei 225 Options

Trading Hours
Auction9:00～15:15
16:30～3:00

Block Trade

8:20～16:00
16:15～3:00

TOPIX Options

Tick Size (point/¥)
Block
AuctionTrade

No. of
Minimum No. ofContract
Months Exercise Prices

Vendor Codes
Bloomberg

Reuters

QUICK

determined by
option price1 (¥50 or less)5 (over ¥50
to ¥1,000)
10 (more than
¥1,000)1＊ 1,000

19

33（ATM±16）

NKY<index>OMON 0#JNI*.OS OP2@

0.5(*1)

0.1＊ 10,000813（ATM±6）

TPX<index>OMON 0#JTI*.T＊minimumtrading unit
of underlying

4

5（ATM±2）(security code)
0#OPT*.T KO@16<EQUITY>OMON

3～421（ATM±10）

JBA<CMDTY>OMON 0#JGB+

9:00～11:35
12:30～15:15

8:20～16:00

determinedby option price

8:45～11:00
Options on JGB Futures 12:30～15:02
15:30～3:00

8:20～15:15
15:25～3:00

0.01

Single Stock Options

Unit

0.01 ＊ 1,000,000

OPT@

GB@

(*1) 0.1 when option's price is under 20 points

6

July, 2014

Trading Fee (as of Jun. 2014)
Products

Nikkei 225 Futures

Nikkei 225 mini

TOPIX Futures

Exchange Trading Fees (Rate)

Regular Trade

Regular Trade

Regular Trade

Volume Discount Available (*1)(contract)(Prop)｜(Customer)
0 - 10,000 ：￥ 70 ｜￥110
more than 10,000 - 50,000 ：￥ 35 ｜￥ 70
more than 50,000 - 100,000 ：￥ 20 ｜￥ 40
more than 100,000 - 150,000 ：￥ 15 ｜￥ 25
more than 150,000 -		：￥ 10 ｜￥ 25
Volume Discount Available (*1)(contract)		(Prop) ｜(Customer)
0 - 100,000 ：￥ 7 ｜ ￥11
more than 100,000 - 500,000 ：￥ 6 ｜ ￥ 8
more than 500,000 - 1,000,000 ：￥ 4 ｜ ￥ 6
more than 1,000,000 -		：￥ 3 ｜ ￥ 4
Volume Discount Available (*1)(contract)0 - 100,000 ：￥ 55
more than 100,000 - 300,000 ：￥ 35
more than 300,000 -		：￥ 20

mini-TOPIX Futures
TOPIX Core30 Futures
TSE REIT Index Futures

Regular Trade¥7 per contract

JPX Nikkei 400 Futures(Scheduled on 11/25/2014)

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¥7 per contract (discounted fee：Originally ¥40）

Nikkei 225 VI Futures

Regular Trade¥80 per contract

DJIA Futures
CNX Nifty 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（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 (Scheduled)

SQ Settlement

13 per contract (Scheduled)

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 Exercise of
Options on JGB¥82 per contract
Futures

Trade by Exerciseof Options on JGB
Futures¥49 per contract

Physical delivery¥10 per contract

Physical delivery¥132 per contract

Regular Trade¥20 per contract

Regular Trade¥5 per contract

Final settlement¥15 per contract

Regular Trade(*2)

0.5 bp per Trading Value

Regular Trade(*2)

Volume Discount Available (*1) (*2)(premium)
0 - ¥ 10 bil. ： 5.0 bp
more than ¥ 10 bil. - ¥ 25 bil. ： 3.5 bp
more than ¥ 25 bil. - ¥ 35 bil. ： 2.5 bp
more than ¥ 35 bil. ： 1.5 bp

TOPIX Options

Regular Trade¥40 per contract

Single Stock Options

Regular Trade¥10 per contract

Options on JGB Futures

Regular Trade¥40 per contract

Exercise(*2)

5.5 bp per amount to transfer by exercise

Regular Trade¥10 per contract

Exercise¥10 per contract

Regular Trade¥10 per contract

Exercise (*3)

¥10 per contract

Regular Trade¥10 per contract

Exercise¥10 per Trading Volume of JGB Futures by
Exercise(*1) Fee rate calculated by the table using monthly average trading volume of 3 months from 4 months prior until 2 months prior(*2) The maximum fee is JPY 350 per trading unit. The maximum clearing fees are JPY 35 (Regular Trade) per trading unit and JPY 385 (Exercise) per trading unit.
(*3) Clearing fees for cash trading (trading value of cash trading by exercise × 0.000004) will be required additionally.
(Note) Give-up fees (JPY 5 per contract) will be required for Clearing Broker.(JPY 1 for Nikkei 225 mini, mini TOPIX Futures, TOPIX Core30 Futures, TSE REIT Index
Futures, Dividend Index Futures, mini-10-year JGB Futures)(Note) OSE has set the transfer fee to JPY 5 per contract for the position transfers of 10-year JGB Futures and TOPIX Futures trading from NYSE Liffe to OSE.

7

July, 2014

Trading Data (Jan.-Jun. 2014)
Trading Volume

Products

12,092,354
89,913,282
10,125,071
1,885,335
1,638
55,894
11,073
5,280
43,21827,956
21,037,358
108,740
563,19004,040,918
7,734
2,940
578,639

Nikkei 225 Futures
Nikkei 225 mini
TOPIX Futuresmini-TOPIX Futures
Futures
EquityTOPIX Core30 Futures
TSE REIT Index Futures
TOPIX Banks Index Futures
Nikkei 225 Dividend Index Futures
Nikkei 225 VI Futures
DJIA Futures
Nikkei 225 Options

Options

TOPIX Options
Single Stock Options
5-year JGB Futures

Bond

Futures

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

Options

Options on JGB Futures

ChangeTrading Value Exercise Volume Open Interest−31.8%−35.5%−18.4%−15.6%−75.7%+29.7%+60.6%−95.1%+444.2%+479.6%−40.5%−44.4%+16.8%−−24.3%−42.5%−−47.3%

1,795,140
1,331,034
1,229,694
22,732
10
844
190
13
102
457
33,702294
49
05,856,746
1,120
5,864
662

−
−
−
−
−
−
−
−
−
−
662,984
18,073110,931−−−−
27,230356,766
457,962
517,168
36,073
460
8,780
2,906
55,971
2,605
943
2,816,439
45,82859,0040
99,201
293
141
11,762(Contracts, ¥100million)

Trading Records
Nikkei 225 Futures
2014 (Jan.-Jun.)(Contracts, ¥)(Date)TOPIX Futures

Historical(Contracts, ¥)(Date)

2014 (Jan.-Jun.)(Date)(Contracts, Points)

10-year JGB Futures

Historical(Contracts, Points)(Date)

2014 (Jan.-Jun.)(Contracts, ¥)(Date)

Historical(Contracts, ¥)(Date)

373,535（14/06/10） 739,909（99/12/07） 671,141（14/06/10） 747,937（13/06/11） 153,849（14/03/06） 211,110（07/06/07）
Lowest Daily Trading Volume
39,982（14/04/21）
0（94/01/31） 28,219（14/04/21）
0（94/01/31） 13,746（14/04/21）
510（85/10/28）
Highest Open Interest 535,722（14/06/12） 684,617（08/03/14） 652,891（14/03/12） 784,611（13/12/11） 116,116（14/02/26） 310,415（00/02/08）
Lowest Open Interest 337,297（14/03/14） 10,450（88/09/09） 470,367（14/03/18） 11,183（88/12/08） 94,496（14/03/12） 14,585（85/12/12）
Highest Price
16,330（14/01/06） 39,820（89/12/27） 1,318.5（14/01/06） 2,956.0（89/12/18） 145.77（14/06/27） 146.44（13/04/05）
Lowest Price
13,850（14/04/11） 6,830（08/10/28） 1,120.0（14/04/11） 687.0（09/03/13） 143.32（14/01/06） 87.08（90/09/27）
Highest Daily Trading Volume*Figures refer only to days when trading volume is not 0.

Latest News

Contact: JPX (Japan Exchange Group)

Jun. 2013 : 	Japan Exchange Group was establishedJul. 2013 : 	Integration of Clearing Functions to JSCC
			 (Cross margin between Nikkei 225 Fut.
and TOPIX Fut. became available.)Mar. 2014 : Derivatives market integration
Mar. 2014 : CNX Nifty Fut. was listed
Apr. 2014 : 20-year JGB Fut. was relaunched
Nov. 2014 : 	JPX-Nikkei 400 Index Fut. will be launched

Osaka Exchange
Market Planning &Development Dept.
Tel: +81-50-3377-8645
mkt-biz@jpx.co.jp

Singapore
Representative Office
Tel:+65-6438-5100
sintse@ntti.net.sg

LondonRepresentative Office

Beijing
Representative Office

Tel:+44-(0)-20-7329-2155
tse@tseldn.co.uk

Tel : +86-10-8517-1128
tsebjrep@tsebjrep.com.cn

New York
Representative OfficeOsaka Exchange (Website)
http://www.ose.or.jp/e/

Tel:+1-212-363-2350
contact@tsenyrep.com

Disclaimer : The descriptions in this publication are intended solely for the purpose of providing information on futures and options. Losses may be incurred due tofluctuation 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, and must 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, Japan Exchange Group, Inc. and its subsidiaries shall not guarantee and beliable for any damages caused by any errors or omissions in this publication. Japan Exchange Group, Inc. and its subsidiaries reserve the right to change the contentsof this publication without prior notice.

Copyright © Japan Exchange Group, Inc. 2014 All rights reserved

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July, 2014