Single Stock Futures

These are derivative instruments that give investors exposure to price movements on an underlying stock/share. The parties agree to exchange a specific number of stocks/shares in a company at a future price agreed today.

Single stocks/shares listed: ABSA, BATK, COOP, EABL, EQTY, IMHP, KCB, NCBA, SCBK, SCOM. Contract Months: Expires Quarterly (March, June, September and December).

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Contract Size:

For stocks/shares trading below KES 100:1 contract = 1000 underlying stocks/shares.
For stocks/shares trading above KES 100:1 contract = 100 underlying stocks/shares.

Margin:

This is fixed by the exchange https://www.nse.co.ke/derivatives/market-notices/
However, the clearing member requires an additional 10% margin in addition to the margin required by the exchange.

Minimum Price Movement:

PRICE RANGE TICK SIZE (KES)
Below 100 0.01
≥ 100˂ 500 0.05
≥ 500 0.25

Trading Hours

Determined by the Exchange 09:30 – 15:00 EAT

Note: Expiry Dates: 3rd Thursday of expiry month (If a holiday then the previous day is used).
Expiry Time: 15:00 hrs EAT.
Trading & Settlement Currency: KES.

Market Fees:

Participant Percentage
Exchange Fees 0.025%
Clearing Member Fees 0.025%
Trading Member Fees 0.15%
IPF Fees 0.01%
CMA Fees 0.01%
TOTAL PER CONTRACT 0.22%

Equity Index Futures

These are derivative instruments that give investors exposure to price movements on an underlying index. The NSE shall initially construct Equity Index Futures contracts based on the NSE 25 Index.

Equity Index listed: NSE 25 Share Index, Mini NSE 25 Share Index.

Contract Months: Expires Quarterly (March, June, September and December).

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Contract Size:

One Index Point: 1 point = 100 Kenyan Shillings

Margin:

This is fixed by the exchange https://www.nse.co.ke/derivatives/market-notices/
However, the clearing member requires an additional 10% margin in addition to the margin required by the exchange.

Minimum Price Movement:

PRICE RANGE TICK SIZE (KES)
Below 100 0.01
≥ 100˂ 500 0.05
≥ 500 0.25

Trading Hours

Determined by the Exchange 09:30 – 15:00 EAT

Note: Expiry Dates: 3rd Thursday of expiry month (If a holiday then the previous day is used).
Expiry Time: 15:00 hrs EAT.
Trading & Settlement Currency: KES.

Market Fees:

Participant Percentage
Exchange Fees 0.020%
Clearing Member Fees 0.020%
Trading Member Fees 0.10%
IPF Fees 0.01%
CMA Fees 0.01%
TOTAL PER CONTRACT 0.16%

FAQ's

NEXT is the Nairobi Securities Exchange (NSE) derivatives market that facilitates the trading of futures contracts in the Kenyan market. NEXT is regulated by the Capital Markets Authority (CMA).

The Margin required for any of the products is determined by the exchange https://www.nse.co.ke/derivatives/market-notices/. However, there is an additional margin requirement of 10% by the clearing member.

For example:

If the Margin required by the exchange on ABSA is KES 1600, then the clearing member will charge an extra margin of 10% which is KES 160, the total Margin required to place the trade will then be KES 1760.

The leverage is computed as below:

Leverage = (Contract Size*Price) / (Contract Size*Price*Margin)

No, dividends are not paid on NSE Derivatives

Deposits are processed within 5 minutes, while withdrawals are processed on T+1.

Please contact support@scopemarkets.co.ke and your account will be created as soon as possible.

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