Futures
- A futures contract settles a product or an index on a fixed future date.
- Each contract month has a last trading day and a final settlement value.
- Perpetual futures have no such date.
Futures: definition, StockTicker24 display rules and dated production-data examples.
Definition
Japan's Financial Instruments and Exchange Act lists market derivatives. Item 1 is a promise to deliver a product for payment at a set future time. Item 2 is a cash payment based on the difference between an agreed number and the actual number at a future time. Index futures take the item 2 form.
Osaka Exchange's Nikkei 225 futures run in contract months. The nearest 16 June and December contract months are listed, plus the nearest 3 March and September contract months. The last trading day is the business day before the second Friday of the contract month; if that Friday is not a business day, the preceding business day replaces it. The final settlement value comes from the opening prices of the index's constituents on the next business day.
A position closes by an offsetting trade or by final settlement. Day-session continuous trading runs 8:45–15:40 JST, and night-session continuous trading runs 17:00 to 5:55 the next morning.
| Nikkei 225 futures, September 2026 contract | Date |
|---|---|
| Second Friday of September | Sep 11, 2026 |
| Last trading day | Sep 10, 2026 |
| Final settlement value calculated | Sep 11, 2026 |
The contract issuer for the board's index cards, trade[XYZ], uses futures in its index oracle. During the cash session it uses the index value as is. Outside the session it derives a cash-equivalent value from index futures prices.
StockTicker24 shows no dated-futures cards; its index cards are perpetual-futures values.
a dated future ends on a known day; a perpetual future does not.
How it appears on StockTicker24
The board has no card for any single contract month. The "Nikkei 225" card is a perpetual-futures contract with no expiry. The site uses the term "perpetual futures" throughout.
The site retrieved its production board snapshot (/api/board-snapshot) at Oct 10, 2026, 05:01:18 UTC (capturedAt 05:01:10.627 UTC). That is Saturday 14:01 JST, outside both Osaka sessions.
| Card | Mid price | Oracle price | Previous-day reference (prevDayPx) |
|---|---|---|---|
| Nikkei 225 | 68,900.0 | 68,867.0 | 68,974.0 |
| S&P 500 | 7,820.35 | 7,818.5 | 7,786.1 |
Against prevDayPx, the Nikkei 225 mid price was −0.11% and the S&P 500 mid price was +0.44%. These are perpetual-futures figures, not dated-futures quotes.
the board's index numbers come from perpetual futures, which have no contract month.
Examples from the current board
Saved observation:
Tables scroll horizontally. Values use each contract’s quoted unit; no currency conversion.
| Symbol / contract | Unit | Price (mid; mark if missing) | prevDayPx | Difference vs. prevDayPx | Change vs. 24h earlier |
|---|---|---|---|---|---|
| ARB/USDARB | USDC | 0.17926 | 0.1913 | −0.01204 | −6.293779% |
| PUMP/USDPUMP | USDC | 0.004328 | 0.004566 | −0.000238 | −5.21244% |
| ENA/USDENA | USDC | 0.186965 | 0.19712 | −0.010155 | −5.151684% |
| Direxion Daily Semiconductor Bull 3X ETFxyz:SOXL | USDC | 89.729 | 93.925 | −4.196 | −4.467394% |
| kPEPE/USDkPEPE | USDC | 0.003838 | 0.004016 | −0.000178 | −4.432271% |
Price = mid price, or mark price when mid is unavailable. Difference = price − prevDayPx; change vs. 24h earlier = (price ÷ prevDayPx − 1) × 100. Funding rate (%) = hourly decimal × 100. Calculated values are rounded to six decimal places.
Data: our board (perpetual-futures reference values), observed
No matching numeric example is available in this snapshot; the related board card is shown below.
Price: mid price (mark if missing) · perpetual futures / vs. 24h earlier / / Saved / stale
Data: our board (perpetual-futures reference values), observed
Questions
Is the board's Nikkei 225 the Osaka Nikkei 225 futures contract?
No. It is a perpetual-futures contract with no contract month and no last trading day.
Are futures, CFDs and perpetual futures the same thing?
No. None of them is the underlying asset. They differ in whether there is an expiry date and in who the counterparty is.
What does the index oracle use outside the cash session?
Under the issuer's index specification, it uses a cash-equivalent value derived from index futures prices. During the session it uses the index value as is.
Related
Sources
The production API examples are a fixed historical snapshot. Building this page does not fetch new prices.
External source titles and URLs were checked on Oct 11, 2026. The historical content retrieval dates are listed below.
- Financial Services Agency, 金融商品取引法 (content retrieved Aug 23, 2026, as cited on the Japanese page).
- Osaka Exchange, 日経225先物 制度概要 (content retrieved Aug 23, 2026, as cited on the Japanese page).
- trade[XYZ] (contract issuer), Equity Indices — https://docs.trade.xyz/perpetuals/markets/equity-indices.md (content retrieved Aug 23, 2026, as cited on the Japanese page).
- StockTicker24 production API
/api/board-snapshot, retrieved Oct 10, 2026, 05:01:18 UTC.