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Nikkei 225 Futures Rollover

  • The product

    The Nikkei 225 Futures Contract Structured Rollover Transaction enables investors to hedge against unwanted price fluctuations, while limiting their losses under adverse market conditions.

    Created with the purpose of facilitating investors' day-to-day operations, the structured rollover transaction does not consist of a new contract but rather a mechanism that allows to trade two maturities simultaneously, thus maintaining the features of the contracts unchanged.

    Typically, structured rollover transactions are carried out by investors wishing to migrate their positions to a longer maturity date due to, i.e., lack of liquidity in certain maturities. In addition, rollover transactions are also widely used by investors who wish to trade price differentials between maturities when they are seeking arbitrage between them, or even directional speculation.

  • Specifications
    UnderlyingNikkei Stock Average Index
    Contract sizeNikkei 225 Futures Contract multiplied by the index point value in Brazilian Reals, each point JPY 50
    QuotationIndex points
    Tick size5 index points
    Round-lot1 contract
    Contract monthsMarch, June, September and December.
  • Benefits
    • Reduces risk by allowing trading in two different maturities in a single transaction.
    • Adds another price arbitrage tool between maturities.
    • Facilitates trading of price differential