CME · Equity Index · Futures
CME Nikkei 225 Yen (NIY) is ¥500 times the Nikkei 225, cash-settled and traded nearly 24 hours a day – the Japanese stock market on US hours.
Source: CME Group contract specifications · reviewed Sep 30, 2026
| Contract | Roll date | First notice | Last trading day | Days left |
|---|---|---|---|---|
| NIYZ26 Dec 2026 Active | Wed, Dec 2, 2026 | n/a | Thu, Dec 10, 2026 | 72 |
| NIYH27 Mar 2027 | Wed, Mar 3, 2027 | n/a | Thu, Mar 11, 2027 | 163 |
| NIYM27 Jun 2027 | Wed, Jun 2, 2027 | n/a | Thu, Jun 10, 2027 | 254 |
| NIYU27 Sep 2027 | Wed, Sep 1, 2027 | n/a | Thu, Sep 9, 2027 | 345 |
| NIYZ27 Dec 2027 | Wed, Dec 1, 2027 | n/a | Thu, Dec 9, 2027 | 436 |
| NIYH28 Mar 2028 | Wed, Mar 1, 2028 | n/a | Thu, Mar 9, 2028 | 527 |
Roll. The date shown is about a week before expiry.
First notice day. None – the contract is cash-settled, so there is no delivery and no first notice day.
Last trading day. Business day before the second Friday of the contract month (Japanese holidays are not reflected – check the CME calendar).
US exchange holidays ahead: Nov 26 · Dec 25 · Jan 1 · Jan 18 · Feb 15 · Mar 26 · May 31 · Jun 18
Calculated from exchange rules and the US exchange holiday calendar. Confirm with the CME Group expiration calendar.
| Session | Eastern (ET) | Central (CT) | Your time |
|---|---|---|---|
| CME Globex (electronic) | Sun–Fri 6:00 p.m. – 5:00 p.m. | Sun–Fri 5:00 p.m. – 4:00 p.m. | – |
| Daily maintenance break | Mon–Thu 5:00 – 6:00 p.m. | Mon–Thu 4:00 – 5:00 p.m. | – |
Holiday hours differ – check the exchange holiday calendar before trading around US holidays. ET is New York time, CT is Chicago time (always one hour behind ET).
| Contract | Long position | Short position |
|---|---|---|
| NIYZ26 Dec 2026 Active | ¥2,463,276 | ¥2,250,062 |
| NIYH27 Mar 2027 | ¥2,476,521 | ¥2,260,893 |
| NIYM27 Jun 2027 | ¥2,472,297 | ¥2,199,089 |
| NIYU27 Sep 2027 | ¥2,425,681 | ¥2,215,782 |
Exchange margins are the minimum your clearing firm must collect for positions held overnight. Brokers may require more – and usually offer much lower day-trading margins for positions closed before the session ends. A neutral broker day-margin comparison is coming soon.
−1,171 net contracts
−1,444 vs. prior week · −5.3% of OI
Movement (6 wk): −9
Banks and dealers on the other side of client flow. Tend to act contrarian – selling strength, buying weakness.
+6,524 net contracts
+379 vs. prior week · +29.7% of OI
Movement (6 wk): +5
Pension funds, insurers, mutual funds. Structurally long; read changes against their own range, not the sign.
+798 net contracts
−171 vs. prior week · +3.6% of OI
Movement (6 wk): −1
Hedge funds and CTAs. Trend followers – their net position tends to run with price and peaks near turning points.
| Group | Long | Short | Net | Δ 1 wk | Δ 4 wk | Index 26 wk | Index 3 yr | Move 6 wk |
|---|---|---|---|---|---|---|---|---|
| Dealers / Intermediaries | 4,888 | 6,059 | −1,171 | −1,444 | −5,405 | 44 | 39 | −9 |
| Asset Managers | 7,346 | 822 | +6,524 | +379 | −740 | 40 | 35 | +5 |
| Leveraged Funds | 3,001 | 2,203 | +798 | −171 | −143 | 40 | 33 | −1 |
| Other Reportables | 0 | 0 | ±0 | ±0 | ±0 | 44 | 22 | −5 |
| Nonreportables | 6,322 | 12,473 | −6,151 | +1,236 | +6,288 | 59 | 74 | +11 |
| Group | Long | Short | Net | Δ 1 wk | Δ 4 wk | Index 26 wk | Index 3 yr | Move 6 wk |
|---|---|---|---|---|---|---|---|---|
| Commercials | 11,364 | 6,758 | +4,606 | −157 | −4,539 | 66 | 45 | −12 |
| Non-Commercials | 4,199 | 2,654 | +1,545 | −1,079 | −1,749 | 2 | 22 | +1 |
| Nonreportables (small) | 6,322 | 12,473 | −6,151 | +1,236 | +6,288 | 59 | 74 | +11 |
| Report date | Dealers / Intermediaries | Asset Managers | Leveraged Funds | Other Reportables | Nonreportables | Open interest |
|---|---|---|---|---|---|---|
| Sep 22, 2026 | −1,171 | +6,524 | +798 | ±0 | −6,151 | 21,974 |
| Sep 15, 2026 | +273 | +6,145 | +969 | ±0 | −7,387 | 22,625 |
| Sep 8, 2026 | −1,164 | +6,398 | +1,160 | +244 | −6,638 | 42,440 |
| Sep 1, 2026 | +3,525 | +6,847 | +701 | ±0 | −11,073 | 30,948 |
| Aug 25, 2026 | +4,234 | +7,264 | +941 | ±0 | −12,439 | 31,113 |
| Aug 18, 2026 | +2,250 | +7,068 | −437 | +213 | −9,094 | 31,049 |
| Aug 11, 2026 | +1,617 | +6,551 | +1,021 | ±0 | −9,189 | 28,863 |
| Aug 4, 2026 | +4,339 | +6,770 | +3,154 | ±0 | −14,263 | 33,506 |
| Jul 28, 2026 | +3,807 | +8,008 | +4,026 | +554 | −16,395 | 35,445 |
| Jul 21, 2026 | +2,188 | +6,994 | +2,535 | ±0 | −11,717 | 30,441 |
| Jul 14, 2026 | +70 | +6,967 | +2,988 | ±0 | −10,025 | 28,740 |
| Jul 7, 2026 | +590 | +8,209 | +1,712 | ±0 | −10,511 | 31,181 |
Source: CFTC Public Reporting Environment · contract market code 240743 (NIKKEI STOCK AVERAGE YEN DENOM - CHICAGO MERCANTILE EXCHANGE)
Before commissions and exchange fees. Prices round to the nearest tick of 5.
One tick is 5 index points, worth ¥2,500 per contract. One index point is worth ¥500. Profits and losses are in Japanese yen.
The COT Index places a group's current net position within its own range over a lookback window: 100 = the most net long in that window, 0 = the most net short. It measures positioning extremes, not timing.