Circuit Breakers in and after May 2011

4.25.2011


    Circuit breakers in and after May 2011 will be handled as follows for the time being; provided, however, that the Exchange might change the Initial CB Trigger Levels, CB Expansion Amounts, and number of expansion, etc., when it deems necessary.

    Regarding the Nikkei-TOCOM Commodity Index Futures (Contract Month Transaction) with the starting date of May 2, the CB trigger level for March 2012 contract will be set based on the previous business day's (April 28) Settlement Index Point for the Contract Day Transaction.

    1. CB Trigger Levels

    Commodity
    (Mini & Options Included)
    Initial CB Trigger Levels
    (also CB Expansion Amounts)
    Gold .
    JPY 100
    Silver .
    JPY 2.5
    Platinum .
    JPY 200
    Palladium .
    JPY 80
    Gasoline .
    JPY 2,400
    Kerosene .
    JPY 2,400
    Crude Oil .
    JPY 2,400
    Gas Oil .
    JPY 2,400
    Chukyo Gasoline .
    JPY 2,400
    Chukyo Kerosene .
    JPY 2,400
    Rubber
    JPY 10.0
    Nikkei - Tocom Commodity Index
    15.0 Point

 

    2. Process Following a CB Trigger

    (1) For the first, second and third CB trigger, the trading session will be halted for 5 minutes from the time of the trigger. Trading will then resume with an expanded CB.

    Example for Gold (figures are in JPY):
    * CB Trigger Level after First Trigger = 100 (initial trigger level) + 100 (expansion amount) = 200
    * CB Trigger Level after Second Trigger = 200 (previous trigger level) + 100 (expansion amount) = 300
    * CB Trigger Level after Third Trigger = 300 (previous trigger level) + 100 (expansion amount) = 400

    (2) From the fourth CB trigger, trading will resume after a 5-minute halt, but the CB trigger level will not be expanded (for the gold example above, the CB trigger level will stay at JPY 400). However, when deemed necessary by the Exchange, the halt period and trigger level expansion may be modified.

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