Platts Dubai Crude Oil - Contract Specifications

Date of Listing

September 10, 2001

Type of Trade

Cash-settled Futures Transaction

Type of Crude Oil

Middle East crude oil (The value of Dubai which acts as the benchmark price of Middle East crude oil.)

Trading Method

Computerized Individual Auction

Settlement Price

Final Execution Price of Individual Auction

Final Settlement Price

Yen-based monthly average value of Dubai calculated by the Exchange based on the prices reported by a price information vendor (as a general rule, platts)

Contract Months

Six consecutive months (On the day when a new contract month is generated, there will be six consecutive months starting from the month which the said day belongs to.)

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 314,5 barrels) / 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 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

No Position Limits. However, limits may be set if the exchange finds it necessary.

Ticker Symbol

TOCOM Product Code: 33
Reuters Contract Detail: TCE/JCO
Bloomberg Tickers: CPA

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