Aluminum
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Date of Listing
April 7, 1997
Type of Trade
Physically Delivered Futures Transactions
Standard
Aluminum of minimum 99.70% purity with maximum permissible iron content of 0.20% and silicon content of 0.10%
Trading Method
Computerized Individual Auction
Contract Months
All even months within a year (On the day when a new contract month is generated, there will be 6 even months starting from the next even month after the month which the said day belongs to)
Last Trading Day
Day session on the third business day preceding the Delivery Day
First Trading Day of a New Contract Month
Day session on a business day following the Last Trading Day of the current contract month.
Delivery Day
The last day of each even month except December (the 28th for December). If the day is a holiday or a half-day holiday, Delivery Day is advanced.
Good Delivery
Bars of a brand designated by the Exchange matching the standard(62brands). The Acceptable Weight Range of Deliverable Goods shall be +/-2% per contract (25 tonnes).
Delivery Points
Specified warehouses
Method of Delivery
The Party Making Delivery submits to the Exchange a warehouse receipt, issued by a TOCOM-designated warehouse, for the delivery goods. The Party Taking Delivery submits to the Exchange the Delivery Value based on the delivery price.
* Click here for Regulations on Aluminum Warehouse Receipts Modified
Trading Hours
Day Session 9:00 a.m. to 3:30 p.m., (JST)
Night Session 5:00 p.m. to 11:00 p.m. (JST)
Contract Unit
5,000 kg (5 tonnes) per contract
Delivery Unit
25,000 kg (25 tonnes) per contract (Delivery unit = 5 contract units)
Price Increment
JPY 0.1 per kg
Circuit Breaker Trigger Level
The CB trigger level is to be set everyday at the start of a clearing period (i.e.the start of a night session at 17:00) and is based on the settlement price of the previous clearing periond (or the settlement price of the preceding contract month, in case of a new contract month)
Base Amount of Initial Clearing Margin (per contract)
Base Amount for Initial Clearing Margin is determined every month in accordance with the price movement of the market, using the result of the following formula as a minimum amount:
"an amount determined based on price movement within a recent certain period of time" * "Contract Unit Multiplier" * 1.5See Margins for the margins currently applied.
Extraordinary Clearing Margin
When the Exchange deems it necessary for market management purposes, Extraordinary Clearing Margins shall be imposed.
Customer Position Limit (for each long/short position)
Customers excluding commercials (*1) and investment funds:
1st contract month in an even month: 400 contracts
1st contract month in an odd month: 800 contracts
Other contract months (each): 2,400 contracts
All contract months combined: 10,000 contractsCommercials and investment funds:
1st contract month in an even month: 800 contracts
1st contract month in an odd month: 1,200 contracts
Other contract months (each): 4,000 contracts
All contract months combined: 14,000 contracts*1: as defined by the Commodity Exchange Act and the Articles of Incorporation
("Those who, as their line of business, engage in the purchase, sale, intermediary of trades, brokerage or agency activity, production, processing or use of Listed Commodity Component Products (...)"
Note: apart from the delivery mentioned in these contract specifications, Coordinated Delivery and Declared Delivery are also available.
Ticker Symbol
TOCOM Internal Code: 21
Reuters Contract Detail: TCE/JAL
Bloomberg Ticker: JHA
