Modification of Rules & Regulations Following Extension of Trading Hours


The current trading sessions at TOCOM are from 9:00 to 11:00 for the morning session and from 12:30 to 15:30 for the afternoon session. The Exchange will extend its trading hours by two hours, with a closing time for the afternoon session at 17:30 instead of 15:30. The Exchange has received approval from the Ministry of Economy, Trade and Industry to modify its Market Rules and Brokerage Rules accordingly. The said modifications will be implemented on and after January 7th, 2008.

*Details of Modifications:

1/ For the afternoon session, the closing time, as well as the ending times for order entry, Trading Reports and Declarations of Options Exercise will be postponed by two hours.

2/ The time by which a customer must indicate to a Broker Member his intention to settle a position in the current contract month by offset, or the time by which a customer must place with a Broker Member a Warehouse Receipt among other things or the Total Trading Value among other things when settling a position in the current contract month by making/taking delivery is postponed by 45 minutes.

*Trading hours on and after January 7th, 2008:

Morning session: 09:00 to 11:00

Afternoon session: 12:30 to 17:30

Note: the opening of the trading session will start with the nearest contract month, followed by the other contract months in two-minute intervals.