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Contract Specifications for SGX Nikkei 225 Index Futures (NK)

EXCHANGE Singapore Exchange (SGX)
PRODUCT SYMBOL NK
UNDERLYING STOCK INDEX Nikkei 225 Index
TRADING HOURS Singapore Time

T Session:
Pre-Opening: 7.15 am-7.28 am
Non-Cancel: 7.28 am-7.30 am
Opening: 7.30 am-2.25 pm
Pre-Closing: 2.25 pm-2.29 pm
Non-Cancel: 2. 29 pm-2.30 pm

T+1 Session:
Pre-Opening: 3.00 pm-3.13 pm
Non-Cancel: 3.13 pm-3.15 pm
Opening: 3.15 pm-2.00 am
Pre-Closing: NA
Non-Cancel: NA

CONTRACT SIZE ¥500 x Nikkei 225 Index Futures Price
CONTRACT MONTHS 6 nearest serial months & 20 nearest quarterly months
MINIMUM PRICE FLUCTUATION Outright: 5 index points (¥2500)
Strategy Trades: 1 index point (¥500)
LAST TRADING DATE The day before the second Friday of the contract month.
SETTLEMENT BASIS CASH Settlement
FINAL SETTLEMENT PRICE The final settlement price shall be the Special Nikkei 225 Index Quotation based on the opening prices of each component issue in the Nikkei 225 Index on the business day following the last trading day.
DAILY PRICE LIMIT Temporary Price Limits (Circular DT/AM – 37 of 2011)

Effective from the start of the T+1 Session on 16 March 2011 until further notice from the Exchange

Previous Daily Settlement Price for the front quarter month of the SGX Yen-denominated Nikkei 225 Index Futures contract Initial Price Limits Intermediate Price Limits Final Price Limits
Below 7,000 points +/- 1,000 points +/- 1,500 points +/- 2,000 points
7,000 points to below 10,000 points N.A. +/- 1,500 points +/- 2,000 points
10,000 points and above N.A. N.A. +/- 2,000 points

Whenever the Initial and/or Intermediate Price Limits are reached, a Cooling Off Period* of ten (10) minutes will be implemented during which trading shall be confined to the prevailing Price Limits. After the Cooling Off Period*, the Price Limits will be expanded to the next applicable Price Limits (Intermediate or Final). There shall be no trading in any contract outside of the Final Price Limits for the remainder of the Trading Day.

*The Exchange will signal the commencement of the Cooling Off Period when there is an unsatisfied bid or offer at the prevailing Upper Price Limit or Lower Price Limit respectively for a continuous period of more than ten seconds. The Exchange retains the discretion to take into account any other factors in the market in determining the commencement of the Cooling Off Period.

With regards to the T+1 session, the Daily Settlement Price (DSP) derived in the T session that just ended will be the reference price to determine price limits.

POSITION LIMITS A person shall not own or control more than 10,000 futures or futures equivalent contracts net long or net short in all contract months combined.

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