> For the complete documentation index, see [llms.txt](https://docs.trade.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.trade.xyz/perpetuals/markets/equity-indices/japan.md).

# Japan

trade\[XYZ] perpetual markets for Japan equity indices.

### External Coverage

Spot index values for Japan indices are available during the local cash session (9:00 AM - 11:30 AM and 12:30 PM - 3:30 PM JST, Monday through Friday).

Traditional futures quotes from institutional liquidity providers are available 23/5 (Sunday 6:00 PM ET through Friday 5:00 PM ET, with daily gaps from 5:00–6:00 PM ET).

TradeXYZ's equity index pricing methodology combines these sources to derive external spot pricing 23/5.

### Internal Coverage

* Weekdays (JST)
  * 6:00 AM - 7:00 AM 
* Weekends (JST)
  * Saturday 6:00 AM - Monday 7:00 AM 
* Holidays
  * [Holiday Closures](/perpetuals/specifications-and-schedules/holiday-closures.md)

#### JP225

Japan 225 (JP225) tracks a JPY-denominated, price-weighted index of 225 leading Japanese companies and serves as a widely followed benchmark for the Japanese equity market. The oracle follows the index’s native local-currency level without FX conversion. JP225 is a quanto derivative: P\&L is based on JPY index movement and is cash-settled in USDC.

#### Roll Schedule

| Underlying Suffix | Active Until (applies to both SP500 and XYZ100) | Expiration (applies to both SP500 and XYZ100) |
| ----------------- | ----------------------------------------------- | --------------------------------------------- |
| H6                | `2026-03-09T00:30:00 UTC`                       | `2026-03-13T00:00:00 UTC`                     |
| M6                | `2026-06-08T00:30:00 UTC`                       | `2026-06-12T00:00:00 UTC`                     |
| U6                | `2026-09-07T00:30:00 UTC`                       | `2026-09-11T10:00:00 UTC`                     |
| Z6                | `2026-12-07T00:30:00 UTC`                       | `2026-12-11T00:00:00 UTC`                     |


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