Each TOCOM Gasoline futures contract represents 50 kiloliters of deliverable grade gasoline, which is defined as regular gasoline of JIS K2202 Grade 2 with maximum permissible sulfur content of 10 ppm, and its delivery date is set as throughout the delivery month. TOCOM Gasoline futures contract also has a minimum delivery unit requirement of 100 kiloliters.
As of July 2008, each TOCOM Gasoline futures contract is subject to a margin rate of 270,000 yen for the spot month and 180,000 yen for the other months.
In 2007, TOCOM Gasoline futures traded 7,529,706 contracts (-41.8 percent YOY), and, in June 2008, traded 338,568 contracts (-50.0 percent YOY).
|TOCOM Gasoline futures|
|Exchange||Tokyo Commodity Exchange|
|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 two months after the month which the said day belongs to.)|
|Last Trading Day||The 25th of the month preceding the delivery month (if the day is a holiday, Last Trading Day is advanced.)|
|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.|
|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.|