Crude Oil
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Date of Listing
September 10, 2001
Type of Trade
Cash-settled Futures Transaction
Type of Crude Oil
Middle East crude oil (The average value of Dubai and Oman which acts as the benchmark price of Middle East crude oil.)
Trading Method
Computerized continuous trading
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 a business day following 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.
Final Settlement Price
Yen-based monthly average value of Dubai and Oman calculated by the Exchange based on the prices reported by a price information vendor (as a general rule, platts).
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
50 kl (approximately 314,5 barrels) / contract
Minimum Price Fluctuation
JPY 10 per 1 kiloliter
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)
Maintenance Amount of Initial Clearing Margin (per contract)
Maintenance 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" x "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 positions)
Customers excluding commercials (*1) and investment funds:
Each month: 2,400 contractsCommercials and investment funds:
Each month: 12,800 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 (...)"
Ticker Symbol
TOCOM Internal Code: 33
Reuters Contract Detail: TCE/JCO
Bloomberg Tickers: CPA
