CME Group Nikkei 225 (Yen)

Nikkei 225 (Yen) Futures 	Nikkei 225 (Yen) Futures 	Nikkei 225 (Yen) Futures
Contract Unit 	¥500 (yen) x Nikkei Stock Average	¥500 (yen) x Nikkei Stock Average
Trading Hours 	CME Globex: 	Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
BTIC: Sunday - Friday 6:00 p.m. ET - 3:00 p.m. Tokyo time (1:00 a.m./2:00 a.m. ET) and Monday - Thursday Noon to 5:00 p.m. ET
Trading Hours 	CME ClearPort: 	Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
BTIC: Sunday - Friday 6:00 p.m. ET - 3:00 p.m. Tokyo time (1:00 a.m./2:00 a.m. ET) and Monday - Thursday Noon to 5:00 p.m. ET
Minimum Price Fluctuation	5.00 index points = ¥2500
BTIC: 0.10 index points = ¥50	5.00 index points = ¥2500
BTIC: 0.10 index points = ¥50
Product Code 	CME Globex: NIY
CME ClearPort: N1
Clearing: N1
BTIC: NIT	CME Globex: NIY
CME ClearPort: N1
Clearing: N1
BTIC: NIT
Listed Contracts 	Quarterly contracts (Mar, Jun, Sep, Dec) listed for 12 quarters, nearest 3 serial contract months, and 3 additional Dec contract months
BTIC: Quarterly contracts (Mar, Jun, Sep, Dec) listed for 12 quarters, serial contracts listed for 3 months, and 3 additional Dec contract months	Quarterly contracts (Mar, Jun, Sep, Dec) listed for 12 quarters, nearest 3 serial contract months, and 3 additional Dec contract months
BTIC: Quarterly contracts (Mar, Jun, Sep, Dec) listed for 12 quarters, serial contracts listed for 3 months, and 3 additional Dec contract months
Settlement Method 	Financially Settled 	Financially Settled
Termination of Trading 	Trading terminates 5:00 p.m. ET on the Thursday prior to the second Friday of the contract month.
BTIC: Trading terminates at 3:00 p.m. Tokyo time (1:00 a.m./2:00 a.m. ET) on the Thursday prior to the second Friday of the contract month.	Trading terminates 5:00 p.m. ET on the Thursday prior to the second Friday of the contract month.
BTIC: Trading terminates at 3:00 p.m. Tokyo time (1:00 a.m./2:00 a.m. ET) on the Thursday prior to the second Friday of the contract month.
Settlement Procedures 	Settlement Procedures 	Settlement Procedures
Position Limts 	CME Position Limits 	CME Position Limits
Exchange Rulebook 	CME 352B 	CME 352B
Block Minimum 	Block Minimum Thresholds 	Block Minimum Thresholds
Price Limit or Circuit 	Price Limits 	Price Limits
Vendor Codes 	Quote Vendor Symbols Listing 	Quote Vendor Symbols Listing
Nikkei 225 (Yen) Options 	Nikkei 225 (Yen) Options 	Nikkei 225 (Yen) Options
Contract Unit 	One Nikkei 225 (yen) futures contract 	One Nikkei 225 (yen) futures contract
Minimum Price Fluctuation 	1 index point ( = ¥ 500 ) 	1 index point ( = ¥ 500 )
Trading Hours 	CME Globex: 	Sunday - Friday 6:00 p.m. - 5:00 p.m. ET
Trading Hours 	CME CLearport: 	Sunday 5:00 p.m. - Friday 5:45 p.m. CT with no reporting Monday - Thursday from 5:45 p.m. – 6:00 p.m. CT
Product Code 	CME Globex: NKW
CME ClearPort: NKW
Open Outcry: NKW
Clearing: NKW 	CME Globex: NKW
CME ClearPort: NKW
Open Outcry: NKW
Clearing: NKW
Listed Contracts 	Two months in the March Quarterly Cycle (Mar, Jun, Sep, Dec) 	Two months in the March Quarterly Cycle (Mar, Jun, Sep, Dec)
Settlement Procedures 		
Quarterly Options: Option exercise results in a position in the underlying cash-settled futures contract (For example, the underlying futures contract for an option on the Yen Denominated Nikkei Stock Average futures that expires in March is the March futures contract).
Quarterly options which are in-the-money on the last day of trading are automatically exercised. In-the-money Quarterly Options are exercised into the expiring cash-settled futures contract, which settles to the Nikkei 225 Special Opening Quotation (SOQ"").Contrarian instructions are permitted on quarterly options.
3:15 p.m. CT"		
Quarterly Options: Option exercise results in a position in the underlying cash-settled futures contract (For example, the underlying futures contract for an option on the Yen Denominated Nikkei Stock Average futures that expires in March is the March futures contract).
Quarterly options which are in-the-money on the last day of trading are automatically exercised. In-the-money Quarterly Options are exercised into the expiring cash-settled futures contract, which settles to the Nikkei 225 Special Opening Quotation (SOQ"").Contrarian instructions are permitted on quarterly options.
3:15 p.m. CT"
Termination of Trading 	5:00 p.m. Eastern Time (ET) on Thursday prior to 2nd Friday of the contract month 	5:00 p.m. Eastern Time (ET) on Thursday prior to 2nd Friday of the contract month
Position Limits 	CME Position Limits 	CME Position Limits
Exchange Rulebook 	352C 	352C
Block Minimum 	Block Minimum Thresholds 	Block Minimum Thresholds
Price Limit or Circuit 	Price Limits 	Price Limits
Vendor Codes 	Quote Vendor Symbols Listing 	Quote Vendor Symbols Listing
Strike Price Listing Procedures	At all multiples of 50 index points within ±40% of Exercise Price Reference, centered on previous day’s settlement price of the underlying futures 	At all multiples of 50 index points within ±40% of Exercise Price Reference, centered on previous day’s settlement price of the underlying futures
Exercise Procedure 	American Style. An option can be exercised until 6:30 p.m. ET on any business day the option is traded. 	American Style. An option can be exercised until 6:30 p.m. ET on any business day the option is traded.
Settlement at Expiration 	Option exercise results in a position in the underlying cash-settled futures contract. In-the-money options, in the absence of contrarian instructions delivered to the Clearing House by 6:30 p.m. ET on the day of expiration, are automatically exercised into expiring cash-settled futures, which settle to the SOQ calculated the morning of the 2nd Friday of the contract month.	Option exercise results in a position in the underlying cash-settled futures contract. In-the-money options, in the absence of contrarian instructions delivered to the Clearing House by 6:30 p.m. ET on the day of expiration, are automatically exercised into expiring cash-settled futures, which settle to the SOQ calculated the morning of the 2nd Friday of the contract month.
Settlement Method 	Deliverable 	Deliverable
Underlying 	Nikkei/Yen Futures 	Nikkei/Yen Futures
== Notes ==
== Resources ==
CME Group Nikkei 225 (Yen) Contract Specifications
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