The Osaka Securities Exchange (OSE) held its first night session of trading on 19 July, extending its evening session to run from 16.30 to 03.30, rather than closing at 23.30 as previously.
The market conducted 15.5% of trading in Nikkei 225 futures, 18.2% of Nikkei mini futures and 8% of Nikkei 225 options during the night session.
The extension is intended to enhance market liquidity by providing hedging opportunities based on overseas market trends and economic events. The OSE said the change would also allow Japanese traders to access the market during periods in which price discovery occurs, namely during overseas markets' opening hours. The Nikkei 225 is traded on the Chicago Mercantile Exchange, Singapore Exchange and the Tokyo Stock Exchange in addition to the OSE.
During a consultation period at the beginning of the year, feedback suggested OSE should extend trading hours even further. The OSE said any additional change would depend on volumes.