Osaka Exchange: Expansion Of Contract Months For Options On Nikkei Stock Average And Introduction Of Weekly Options

From the viewpoint of further enhancing the convenience of market participants, Osaka Exchange, Inc. (hereinafter “OSE”) will introduce new options contracts on the Nikkei Stock Average (hereinafter “Nikkei 225”) in addition to the current contracts, which expire on the second Friday (hereinafter “regular options”). The new options contracts (hereinafter “weekly options”) will be set so that they expire on Fridays on which there are no expiring regular options.

Revisions to Setting of Contract Months

Items	After	Current
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

* Revisions indicated in bold.

Future Plans

(1) Accepting Public Comments
From October 10, 2014 to November 8, 2014
(2) Launch Date
OSE will consider the state of preparations among trading participants and aim to launch the contracts by the end of May 2015.

Please refer to the following file for more details.

Press Release (Expansion of Contract Months for Options on Nikkei Stock Average and Introduction of Weekly Options)