TOCOM Platinum

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TOCOM Platinum futures trade on the Tokyo Commodity Exchange (TOCOM). They were launched on January 26, 1984[1].

Each TOCOM Platinum futures contract represents 500 grams of deliverable grade platinum, which is defined as fine platinum of minimum 99.95% purity, and its delivery date is set as the last day of each even month except December (the 24th for December). If the day is a holiday or a half-holiday, Delivery Day is advanced.

As of July 2008, each TOCOM Platinum futures contract is subject to a margin rate of 300,000 yen for the spot month and 150,000 yen for the other months[2].

In 2007, TOCOM Platinum futures traded 9,169,890 contracts (-16.8 percent YOY), and, in June 2008, traded 617,757 contracts (-33.9 percent YOY).



TOCOM Platinum futures
Exchange Tokyo Commodity Exchange
Settlement Physically delivered
Contract Size 500 g
Pricing Unit 500 yen
Tick Value 500 yen
Contract Months All even months within a year
Last Trading Day The third business day prior to the Delivery 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 Platinum Futures Contract Specifications

References

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