Nikkei Volatility Futures - first day of trading

On Monday Osaka Exchange started trading in futures tied to Nikkei Volatility Index. According to bloomberg/businessweek 49 March-expiration contracts traded, but exchange lists monthly expirations until November 2012. Futures are trading under ticker NKVI, and the front two months are at a healthy 2 point premium to the index.

Contract specification for NKVI futures are available here.

Nikkei Volatility Futures / VNKY Futures On The Way

Yesterday Nikkei Inc announced that starting January they are going to start real-time calculation of Nikkei Volatility Index and today Osaka Securities Exchange announced plans to launch volatility futures on the main Japanese index. Links: announcement, futures introduction document, proposed contract specifications, index guidebook (calculation methodology). Right now the futures are under month-long public comment period, and are expected to launch sometime in the winter and trade on J-Gate platform. No word on Nikkei VI options yet.

P.S. See my updated post on Nikkei volatility futures here.