Rubber - Contract Specifications

Date of Listing

December 12, 1952

Type of Trade

Physically Delivered Futures Transaction

Standard

Ribbed Smoked Sheet (RSS) No.3

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 six consecutive months starting from the month which the said day belongs to)

Last Trading Day

Day session on the fourth business day preceding to the Delivery 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 Day and Time

Until noon of the last day of each month except December (the 28th for December). If the day falls on an Exchange holiday or the last business day of the year, Delivery Day will be the immediately preceding business day.

Deliverable Grades

RSS No.3 or 4 of International Standard Specifications, deliverable within a year of date of customs clearance

Delivery Points

Specified warehouses (warehouses located in Tokyo, Kanagawa, Chiba, Ibaragi and Aichi)

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.

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 6:55 p.m. (JST)
Closing Call Auction (Ita-awase) : 7:00 p.m. (JST)

Contract Unit

5,000 kg (5 tonnes) / contract

Delivery Unit

5,000 kg (5 tonnes)

Price Increment

JPY 0.1 per kg

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: 200 contracts
2nd contract month: 600 contracts
All contract months combined: 10,000 contracts

Commercials and investment trusts:
Current contract month: 300 contracts
2nd contract month: 600 contracts
All contract months combined: 10,000 contracts

Ticker Symbol

TOCOM Product Code: 81
Reuters Contract Detail: TCE/JRU
Bloomberg Tickers: JNA

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