Tokyo Grain Exchange Raw Silk

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

The Tokyo Grain Exchange decided on Sept. 15 of 2009 to delist its raw silk futures contract. This occurred in the wake of similar action by another exchange in the country.[2]

Each TGE Raw Silk futures contract represented 60 kilograms of standard or deliverable raw silk, which was 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 had 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).



TGE Raw Silk futures
Exchange Tokyo Grain Exchange
Settlement Physically delivered
Contract Size 60 kilograms
Pricing Unit ¥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.

Notes

Resources

Tokyo Grain Exchange Raw Silk Futures Contract Specifications

References

  1. Raw Silk Futures Contract Specifications. Tokyo Grain Exchange.
  2. Japan Set To End 115-Year-Old Raw Silk Futures Trading. ZEENEWS.