TOCOM Gasoline

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TOCOM Gasoline futures trade on the Tokyo Commodity Exchange (TOCOM). They were launched on July 5, 1999 [1].

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[2].

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
Settlement Physically delivered
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.
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 Gasoline Futures Contract Specifications

References

  1. Gasoline Contract. Tokyo Commodity Exchange.
  2. Margin and Price Limit. Tokyo Commodity Exchange.
  3. Margin and Price Limit. Tokyo Commodity Exchange.