JPX-Nikkei Index 400 expected to become favorite for derivatives

02/7/2014 | Risk.net (subscription required)

Market participants say institutional-investor demand for the new JPX-Nikkei Index 400 is likely to be strong, and it could become the preferred option for over-the-counter, listed futures and options and other products. "Clients have been asking for Nikkei 400 OTC futures, put and call options or structured products using the new index," said Shun Maruyama, a Tokyo-based Japan equity-derivatives strategist at BNP Paribas. "In the cash market it is unlikely that the new index will replace the Nikkei 225 as a benchmark but on the derivatives side it is likely because the Nikkei 225 is a price-weighted index."

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