Date of Listing
October 12, 2010
Type of Trade
Physically Delivered Futures Transaction
Kerosene of JIS K2203 Grade 1
Computerized Individual Auction
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
Six consecutive months (On the day when a New Contract Month is generated, there will be 6 consecutive months starting from 2 months after the month which the said day belongs to.)
Last Trading Day
Day session on the 25th of the month preceding the current contract month (If the day falls on an Exchange holiday, Last Trading Day will be the immediately preceding business 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.
Throughout the delivery month
Regular kerosene of JIS K2203 Grade 1, which is refined within Japan or cleared through the customs.
Quantity Tolerance on Delivery
+-2% of the volume per delivery
Oil tanks located in Shiomi-cho, Minato-ku, Nagoya, Aichi and Tobishima-mura, Ama-gun, Aichi appointed by the Exchange.
- Option of delivery points: Seller
- Delivery method: Delivered by tanker trucks
- Option of delivery day: Buyer in principle
- Matching of Buyer and Seller: Determined by drawing lots, except when parties to Delivery parties find their counterparts by themselves during the period from Last Trading Day to Lottery Day.
- Divided delivery: Delivery can be divided
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)
Opening Call Auction (Ita-awase) : 4:30 p.m. (JST)
Continuous Trading (Zaraba) : 4:30 p.m. to 5:25 a.m. of the following morning (JST)
Closing Call Auction (Ita-awase) : 5:30 a.m. of the following morning (JST)
10 kl (approximately 2,642 US gallons) / contract
10 kl (approximately 2,642 US gallons)
JPY 10 per 1 kiloliter
Contract Price and Tax
The contract price shall be inclusive of the cost of delivery into barge in oil tanks located in Shiomi-cho, Minato-ku, Nagoya, Aichi and Tobishima-mura, Ama-gun, Aichi but exclusive of consumption tax.
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)
As SPAN Margining System started from January 4, 2011, Japan Securities Clearing Corporation (JSCC) will set its parameters based on historical price fluctuation.
Please see the website of Japan Securities Clearing Corporation (JSCC) for more details.
Customer Position Limits (separately for long and short positions)
Customers excluding commercials and investment trusts:
Current contract month: 300 contracts
2nd contract month: 600 contracts
Other contract months (each): 3,600 contracts
Commercials and investment trusts:
Current contract month: 1,500 contracts
2nd contract month: 3,000 contracts
Other contract months (each): 6,000 contracts
TOCOM Product Code: 38
Reuters Contract Detail: JCE
Bloomberg Ticker: ETA