Tokyo Grain Exchange Raw Silk

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TGE Raw Silk futures trade on the Tokyo Grain Exchange (TGE). They were launched on May 12, 1951^[1].

Each TGE Raw Silk futures contract represents 60 kilograms of standard or deliverable raw silk, which is defined in accordance with the Exchange rules, and its delivery date is set as the business day prior to the last business day of the delivery month (December 24th for the December contract; if not a business day, the delivery day is moved up to the nearest business day). TGE Raw Silk futures contract also has a minimum delivery unit requirement of 300 kilograms, equivalent to 5 contract units.

As of July 2008, each TGE Raw Silk futures contract is subject to a margin rate of 33,000 yen (53,000 yen after July 15) for the spot month and 23,000 yen for the next month, and 13,000 yen for the other months.

In June 2008, TGE Raw Silk futures traded 251 contracts (-4.6 percent YOY) and its turnover amounted to 102 million yen (-1.8 percent YOY).

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TGE Raw Silk futures
Exchange	Tokyo Grain Exchange
Settlement	Physically delivered
Trade Unit	60 kilograms
Point Value	¥6 per contract
Tick Value	¥60 per contract
Contract Months	6 consecutive months
Last Trading Day	Two business days prior to the delivery day.
Note: This contract is electronic ONLY -- no open outcry
	No Open Outcry	Electronic
Trading Hours	N/A	9:45 a.m., 1:45 p.m. 9:45 a.m., on the last trading day
Ticker Symbol	N/A	N/A
Price Limits	N/A	Contracts of under ¥2,100 = ¥100 Contracts from ¥2,100 to ¥4,800 = ¥140 Contracts of ¥4,800 or more = ¥180 No price limits in the spot month from the 15th of the delivery month.