Discussion in 'Index Futures' started by Mr. Bollinger, Sep 21, 2003.
Anyone know the tick value for the Nikkei 225? Is there enough liquidity in this market?
I'm looking into the asian markets, specifically futures. Trying to expand my horizons past the US markets. My cursory research shows the nikkei 225 can be traded on a short term basis without too much slippage. Right now I am looking at the hong kong index and it also seems quite tradeable. My main issue with asian markets is their mid-day break, I've got to figure out how cut this out in sierra charts so it does not interfere with a few indicators I keep tabs on. Any suggestions anyone?
500 Yen , which is about $4.2
TD80, can the HSI gap while on the mid-day break? I haven't really looked at the charts yet.
I believe in theory it can! I need to do so more research on the HSFE to see if they have to open it back up at the same price is paused at mid-day, but even i they do, if something went wrong mid day, there would be no liquidity for you at the reopen, and it would instantly go to where the liquidity was... which could be a real problem! So I suggest being careful in the asian markets with leverage through the lunch pause.
FYI, there are 2 exchanges with Nikkei 225 futures products.
On the Osaka exchange (Japan) the tick is JPY 10 which has a value of JPY 10,000. The contract value is JPY 1,000 times the Nikkei Stock average. You can get contract specifications at:
There is also a product on the Singapore Exchange (SGX) for the Nikkei 225 but it appears the specifications are different. The contract size is JPY 500 times the Nikkei 225 Index futures price and the minimum fluctuation is 5 index points (thus, a value of JPY 2500). Again, you can get information at:
I know IB has access to the Osaka exchange as well as to the Tokyo exchange's TOPIX futures (both permitted for US citizens) but do not carry the Singapore product.
Thanks AllenCook for clarifying my answer. There are 2 exchanges and they both trade in minimum of 5 tick increments.
So each tick on the Osaka is 10,000 yen or 10 yen?
yes, 40pts or more gap after lunch hour is not uncommon. Something to be mindful of...
The contract value is calculated at JPY 1,000 times the Nikkei average.
The "tick" or minimum fluctuation is JPY 10 (e.g., points) which is what you would see on a chart or in the quotes. However, the "value" of that minimum fluctuation would be 10 X 1,000 or JPY 10,000 (e.g., minimum value). With the yen rising today (around JPY 112/$) that would be about $89 per tick.
The TSE TOPIX futures trade at a contract value of JPY 10,000 per point but the minimum fluctuation (tick) is 0.5 point so the value is JPY 5,000 or currently about $45).
Separate names with a comma.