TOCOM Crude Oil
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TOCOM Crude Oil futures trade on the Tokyo Commodity Exchange (TOCOM). They were launched on September 10, 2001[1].
Each TOCOM Crude Oil futures contract represents 50 kiloliters of Middle East crude oil (the average value of Dubai and Oman which acts as the benchmark price of Middle East crude oil.), and there is no delivery for TOCOM Crude Oil futures.
As of July 2008, each TOCOM Crude Oil futures contract is subject to a margin rate of 180,000 yen [2].
In 2007, TOCOM Crude Oil futures traded 1,489,018 contracts (-24.1 percent YOY), and, in June 2008, traded 63,565 contracts (-57.4 percent YOY).
| TOCOM Crude Oil futures | ||
|---|---|---|
| Exchange | Tokyo Commodity Exchange | |
| Settlement | Cash settled | |
| Contract Size | 50 kiloliters | |
| Pricing Unit | 50 yen | |
| Tick Value | 500 yen | |
| Contract Months | Six consecutive months (At the day when a new contract month is generated, there will be six consecutive months starting from the month which the said day belongs to.) | |
| Last Trading Day | The first business day of the month following the delivery month (On the last trading day, those who hold positions in the current contract month must liquidate all of their positions by placing market orders at the opening of the market. No new position is allowed to be established on the last trading day). | |
| Note: This contract is electronic ONLY -- no open outcry | ||
| No Open Outcry | Electronic | |
| Trading Hours | N/A | 9:00 a.m. to 11:00 a.m., 12:30 p.m. to 5:30 p.m. |
| Ticker Symbol | N/A | N/A |
| Price Limits | N/A | Daily Price Fluctuation Limits are determined based on the largest market price movement within a certain period of time and are set at a level where the probability that they will be reached is very low[3]. |
Notes
Resources
Tokyo Commodity Exchange Crude Oil Futures Contract Specifications
References
- ↑ Crude Oil Contract. Tokyo Commodity Exchange.
- ↑ Margin and Price Limit. Tokyo Commodity Exchange.
- ↑ Margin and Price Limit. Tokyo Commodity Exchange.
