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Mini Nikkei Futures Tick Size and Monetary Value

Article Quant Q&A · Author: Calculate
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Summary

The document clarifies how to interpret the tick specification for the Mini Nikkei futures contract traded on the Osaka exchange. The quoted increment is five index points, and the stated value of one tick is 500 yen. Thus, the monetary value applies to the full five-point tick increment, rather than to each individual index point.

This distinction matters when translating a price move into profit or loss: a five-point move corresponds to one tick and therefore 500 yen per contract. The explanation resolves the unit conversion raised in the question, but it does not discuss fees, contract sizing beyond the tick value, or broader futures trading considerations.

Key ideas

  • One tick in the Mini Nikkei futures contract equals five index points.
  • The stated value of one tick is 500 yen.
  • A five-point price move therefore corresponds to a 500-yen change per contract.

Tags

FuturesPosition sizing
Full text
# Mini Nikkei Futures Contract - Tick and Point Value


# Mini Nikkei Futures Contract - Tick and Point Value












for the Mini Nikkei Futures Contract traded at the Osaka Japanese Exchange, it states that the Tick Value is 500 Yen per Tick. But the actual contract is quoted in 5 Point Increments. Is the correct tick value 500 Yen per 1 Point, or 500 Yen per 5 Points ?

## Answer by MainCom (score 1, accepted)

https://quant.stackexchange.com/a/66605

500 yen/tick = 500 yen / (5pts)

## Answer by Calculate (score 1)

https://quant.stackexchange.com/a/66652

Just for extra clarification of the Tick and Tick Value of how it is equated and calculated, the following is a description,

For this Futures Contract, 1 Tick = 5 Points, a 1 Tick Value = 500 Yen. A 1 Tick Move, equates to 500 Yen ( 1 Tick = 500 Yen ) . So in other words, a 5 Point Move, equates to 500 Yen ( 5 Points = 500 Yen ) .

Shown in full with attribution under the source's licence. Licence: CC BY-SA 4.0 (Stack Exchange)

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.