Chukyo-Kerosene - Contract Specifications

Date of Listing

October 12, 2010

Type of Trade

Physically Delivered Futures Transaction

Standard

Kerosene of JIS K2203 Grade 1

Trading Method

Computerized Individual Auction

Settlement Price

Final Execution Price of Individual Auction

Settlement Price of Last Trading Day (Delivery Price)

The volume-weighted average price calculated based on execution prices and volume formed through Individual Auction during the Day Session

Contract Months

Six consecutive months (On the day when a New Contract Month is generated, there will be 6 consecutive months starting from 2 months after the month which the said day belongs to.)

Last Trading Day

Day session on the 25th of the month preceding the current contract month (If the day falls on an Exchange holiday, Last Trading Day will be the immediately preceding business day.)

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.

Delivery Period

Throughout the delivery month

Deliverable Grades

Regular kerosene of JIS K2203 Grade 1, which is refined within Japan or cleared through the customs.

Quantity Tolerance on Delivery

+-2% of the volume per delivery

Delivery Points

Oil tanks located in Shiomi-cho, Minato-ku, Nagoya, Aichi and Tobishima-mura, Ama-gun, Aichi appointed by the Exchange.

Delivery Method

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

10 kl (approximately 2,642 US gallons) / contract

Delivery Unit

10 kl (approximately 2,642 US gallons)

Price Increment

JPY 10 per 1 kiloliter

Contract Price and Tax

The contract price shall be inclusive of the cost of delivery into barge in oil tanks located in Shiomi-cho, Minato-ku, Nagoya, Aichi and Tobishima-mura, Ama-gun, Aichi but exclusive of consumption tax.

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 at 16:30) 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

As SPAN Margining System started from January 4, 2011, Japan Commodity Clearing House (JCCH) will set its parameters based on historical price fluctuation.
Please see the website of Japan Commodity Clearing House (JCCH) for more details.

Customer Position Limits (separately for long and short positions)

Customers excluding commercials and investment trusts:
Current contract month: 300 contracts
2nd contract month: 600 contracts
Other contract months (each): 3,600 contracts

Commercials and investment trusts:
Current contract month: 1,500 contracts
2nd contract month: 3,000 contracts
Other contract months (each): 6,000 contracts

Ticker Symbol

TOCOM Product Code: 38
Reuters Contract Detail: JCE
Bloomberg Ticker: CKEA

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