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Verifying Nikkei 225 Mini Futures Tick Size from Exchange Specifications

Article Quant Q&A · Author: 4488970
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Summary

The discussion addresses conflicting published tick sizes for Nikkei 225 mini futures. One third-party futures profile lists a ten-point increment, while the exchange’s product page states a five-yen tick worth ¥500 per contract. The accepted answer says the exchange’s specification is correct, and another response explains the general rule behind that conclusion: the exchange is the authoritative source for contract terms.

The practical lesson is to verify contract details against the exchange’s own documentation when data vendors disagree. The exchange value resolves the specific discrepancy presented here, but the discussion does not examine why the third-party listing differs or whether specifications vary by contract month. Traders should still check the relevant exchange product and contract before trading.

Key ideas

  • The Nikkei 225 mini tick size shown by the exchange is ¥5, valued at ¥500 per contract.
  • A third-party listing in the discussion gives a conflicting increment.
  • The answers identify exchange-published contract specifications as the authoritative reference.
  • Contract details should be checked for the specific product and contract being traded.

Tags

FuturesMarket microstructureExecution
Full text
# What is the correct tick size for the Nikkei 225 mini futures?


# What is the correct tick size for the Nikkei 225 mini futures?












I would like to know the tick size equivalent for the Nikkei 225 m futures contracts.

I can find different information:

https://www.barchart.com/futures/quotes/NPH20/profile with:

Tick Size: 10 points (JPY 2,000 per contract)

but in contrast:

https://www.jpx.co.jp/english/derivatives/products/domestic/225mini/01.html

Tick Size: ¥5 (Value per tick: ¥500 per contract)

Which information is correct?

## Answer by CABLE (score 1, accepted)

https://quant.stackexchange.com/a/51559

The JPX information is correct.

## Answer by ThatDataGuy (score 1)

https://quant.stackexchange.com/a/53411

The exchange is always the authoratitive source wrt contract specifications.

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.