Cash-settled Barge Gasoline - Contract Specifications

Date of Listing

May 8, 2017

Type of Trade

Cash-settled Futures Transaction

Underlying

Regular gasoline to be delivered by barge in Tokyo Bay

Trading Method

Computerized Individual Auction

Settlement Price

Final Execution Price of Individual Auction

Final Settlement Price

Monthly average of daily prices of regular gasoline delivered at refineries having marine shipment facilities located in Tokyo Bay

Contract Months

7 Contract months within a seven (7)-month period starting from the month containing the First Trading Day of a new contract month.

Last Trading Day

Day session on the last business day of the current contract month

First Trading Day of a New Contract Month

Day session on the next business day of the Last Trading Day of the current contract month.

Final Settlement Day

A business day following the Last Trading Day of the current contract month.

Trading Hours

Day Session
Opening Call Auction (Ita-awase) : 8:45 a.m. (JST)
Continuous Trading (Zaraba) : 8:45 a.m. to 3:10 p.m. (JST)
Closing Call Auction (Ita-awase) : 3:15 p.m. (JST)
Night Session
Opening Call Auction (Ita-awase) : 4:30 p.m. (JST)
Continuous Trading (Zaraba) : 4:30 p.m. to 5:25 a.m. of the following morning (JST)
Closing Call Auction (Ita-awase) : 5:30 a.m. of the following morning (JST)

Contract Unit

50 kl (approximately 13,210 US gallons) / contract

Price Increment

JPY 10 per 1 kiloliter

Circuit Breaker Trigger Level (Static Circuit Breaker (SCB) Level)

The SCB trigger level is to be set everyday at the start of a new clearing period (i.e.the start of a night session) and is based on the settlement price of the previous clearing period (or the settlement price of the preceding contract month, in case of a new contract month)

Immediately Executable Price Range (Dynamic Circuit Breaker (DCB) Level)

The DCB trigger level is to be set based on DCB Reference Price (the last traded price,in principle)

Margin

SPAN Margining System: Japan Commodity Clearing House (JCCH) decides base values (parameters) for margin calculation.

Customer Position Limits

Position limits are not applicable; however, if it is deemed necessary by the Exchange, a limit on positions will be established.

Ticker Symbol

TOCOM Product Code: 41
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