TOCOM Changes Contract Unit for Silver and Aluminum

2006.10.11

The Tokyo Commodity Exchange will halve the contract units of silver, in the precious metals market, and aluminum from their current sizes (the same modification will apply to the delivery unit of silver), effective on October 27th, 2006 (applicable from the October 2007 contract). In accordance with these changes, positions limits will also be modified.

For aluminum, those who take/make delivery for the October 2007 contract month onward must have, for every 1 delivery lot (50,0000 kg), 10 positions (5,000 kg * 10) in the nearest contract month at the end of the morning session (11:00 am) on the last trading day.

 

Contract Specifications (Silver)

  After October 2007 Contract Until August 2007 Contract
Contract Unit 30 kg (per contract) 60 kg (per contract)
Delivery Unit 30 kg (per contract) 60 kg (per contract)
Customer Position Limit (see Note 1) 6,000 contracts 3,000 contracts

Note 1: Click here for the interim measures on position limits

 

*Click here for the regulations on silver warehouse receipts

*Click here for the detailed contract specifications

 

Contract Specifications (Aluminum)

  After October 2007 Contract Until August 2007 Contract
Contract Unit 5,000 kg (per contract) 10,000 kg (per contract)
Delivery Unit Same as current unit (50,000 kg) 50,000 kg (per contract)
Customer Position Limit(see Note 1) First contract month:(delivery month) 400 contracts First contract month:(delivery month) 200 contracts
First contract month:(month preceding the delivery month) 800 contracts First contract month:(month preceding the delivery month) 400 contracts
Other Contract Months: 2,400 contracts for each month Other Contract Months: 1,200 contracts for each month
Total 10,000 contracts Total 5,000 contracts

Note 1: Click here for the interim measures on position limits

 

* Click here for the regulations on aluminum warehouse receipts

*Click here for the detailed contract specifications

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