Equity Derivatives Broker - Delta One Japan, Vantage Capital Markets Japan

François-Xavier Pustoc'h

Equity Derivatives Broker - Delta One Japan

Independent Financial Broker

Vantage Capital Markets Japan

We provide world class financial solutions to our extensive institutional client base including rapidly growing corporations, leading investment banks, commercial banks, asset managers, private equity funds, family offices and hedge funds.

Our services include capital market offerings and placements, wholesale brokerage and execution of cash and derivative products (both listed and OTC) across a range of asset classes.

VCM has offices in London, Hong Kong, Tokyo and Dubai from where we service our global client base. Our strength lies in the experience and quality of our teams, supported by excellent operations and infrastructure.

Equity Derivatives

<ul><li>The Nikkei 225 dividend curve is stabilizing after the recent sell off.                            </li><li>Increasing volumes mostly on 2025 dividend futures.</li><li>Nikkei 225 dividend yield is stabilizing at 2.15%.</li></ul>

The Nikkei 225 dividend curve is stabilizing after the recent sell off.                            Increasing volumes mostly on 2025 dividend futures.Nikkei 225 dividend yield is stabilizing at 2.15%.

Nikkei Dividends Update (Mar 7th – Mar 14th)

<ul>
<li>Volumes increased sharply as dealers roll from Mar25 to Jun25 before Friday’s SQ.</li>
<li>NK &amp; TP Rolls collapsed following indices cash spot</li>
<li>Current Roll Levels: NK MAR25/JUN25 ROLL -252/-251, TP MAR25/JUN25 ROLL -26.8/-26.7</li>
</ul>


Volumes increased sharply as dealers roll from Mar25 to Jun25 before Friday’s SQ.
NK &amp; TP Rolls collapsed following indices cash spot
Current Roll Levels: NK MAR25/JUN25 ROLL -252/-251, TP MAR25/JUN25 ROLL -26.8/-26.7


Nikkei & Topix Future Roll Update: 12 March 2025

<ul><li>The Nikkei 225 dividend curve is finally stabilizing after a volatile earnings season.</li><li>Buying pressure on 2025 as Nikkei 225 is selling off.                        </li><li>Nikkei 225 dividend yield is stabilizing at 2.10%.              </li></ul>

The Nikkei 225 dividend curve is finally stabilizing after a volatile earnings season.Buying pressure on 2025 as Nikkei 225 is selling off.                        Nikkei 225 dividend yield is stabilizing at 2.10%.              

Nikkei Dividends Update (Feb 28th – Mar 7th)

<ul>
<li>1M Implied volatility up 0.84 at 28.16 as the Nikkei 225 trades around 36800.</li>
<li>Higher correlation to USDJPY on the downside.       </li>
<li>Increasing interest in downside protection and Mar25/Apr25 gamma roll.</li>
</ul>


1M Implied volatility up 0.84 at 28.16 as the Nikkei 225 trades around 36800.
Higher correlation to USDJPY on the downside.       
Increasing interest in downside protection and Mar25/Apr25 gamma roll.


Nikkei Volatility Update (Feb 28th – Mar 7th)

<ul>
<li>6 business days before Mar25 SQ on Nikkei and Topix Futures &amp; Options</li>
<li>Volumes are slowly going up and expected to increase in the next 3 business days</li>
<li>Current Roll Levels: NK MAR25/JUN25 ROLL -236/-235, TP MAR25/JUN25 ROLL -25.1/-25.0</li>
</ul>


6 business days before Mar25 SQ on Nikkei and Topix Futures &amp; Options
Volumes are slowly going up and expected to increase in the next 3 business days
Current Roll Levels: NK MAR25/JUN25 ROLL -236/-235, TP MAR25/JUN25 ROLL -25.1/-25.0


Japan

The Nikkei-225 Stock Average is a price-weighted average of 225 top-rated Japanese companies listed in the First Section of the Tokyo Stock Exchange. The Nikkei Stock Average was first published on May 16, 1949, where the average price was ¥176.21 with a divisor of 225. 

Nikkei 225 (NKY INDEX)

Nikkei Dividends Update (Mar 7th – Mar 14th)

The Nikkei 225 dividend curve is stabilizing after the recent sell off. Increasing volumes mostly on 2025 dividend futures.

Vantage Capital Markets Japan

Nikkei & Topix Future Roll Update: 12 March 2025

Volumes increased sharply as dealers roll from Mar25 to Jun25 before Friday’s SQ. NK & TP Rolls collapsed following indices cash spot Current...

Vantage Capital Markets Japan

Nikkei Dividends Update (Feb 28th – Mar 7th)

The Nikkei 225 dividend curve is finally stabilizing after a volatile earnings season. Buying pressure on 2025 as Nikkei 225 is selling off. ...

Vantage Capital Markets Japan

Nikkei Volatility Update (Feb 28th – Mar 7th)

1M Implied volatility up 0.84 at 28.16 as the Nikkei 225 trades around 36800. Higher correlation to USDJPY on the downside. Increasing interest in...

Vantage Capital Markets Japan

Nikkei & Topix Future Roll Update

6 business days before Mar25 SQ on Nikkei and Topix Futures & Options. Volumes are slowly going up and expected to increase in the next 3 business...

Vantage Capital Markets Japan