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Osaka Exchange: Decision On Implementation Date, Etc. For Expansion Of Contract Months For Options On Nikkei Stock Average And Introduction Of Weekly Options

Date 24/02/2015

We are glad to announce that we have determined the implementation date, etc. for the expansion of contract months for options on the Nikkei Stock Average, which was announced October 9, 2014, as follows.

Implementation date and the Contract Months on Implementation

The expansion will be implemented on May 25, 2015 (Mon.) 
The following four new contract months whose last trading day is the day preceding each Friday other than the second Friday (hereinafter referred to as "weekly options") will be available for trading on the launch date: 5th week May 2015, 1st week June 2015, 3rd week June 2015, and 4th week June 2015.

Fees

Trading fee for weekly options is JPY 40 per contract. 
* Please note that trading fee for current contract months whose last trading day is the day preceding the second Friday (hereinafter referred to as “regular options”) will be remain unchanged.

Revisions to Setting of Contract Months

ItemsAfterCurrent
Contract Months The following contract months will be set.

  • ・Regular options
    Same as current settings of 19 contract months (described at right).


  • ・Weekly options
    (Contract months whose last trading day is the day preceding each Friday other than the second Friday (hereinafter referred to as "weekly contracts"))
    Nearest 4 consecutive weekly contracts.
Contracts whose last trading days fall on the business day preceding the second Friday will be set (total 19 contract months).
  • ・Quarterly contracts
    June / December expiry: 10 contract months.
    March / September expiry: 3 contract months.
  • ・Other contracts 
    Nearest 6 consecutive contract months.





Strike Prices
  • ・Regular options
    Same as current (described at right)


  • ・Weekly options
    17 Strikes in JPY 125 increments
  • ・Nearest 3 contract months
    33 strikes in JPY 125 increments
  • ・Others
    33 strikes in JPY 250 increments


Trading Fee
  • ・Regular options
    Same as current (described at right)


  • ・Weekly options
    JPY 40 per contract
Trading fee rate is 5.0 bps of trading value. Volume discount is available, which is based on the average monthly trading value of the past 3 months.


Implementation Date May 25, 2015 (Mon.)  

* Revisions indicated by underscore.

Reference: Listed Contract Months of Nikkei 225 Options (From Implementation Date)