Tokyo Grain Exchange Raw Sugar

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TGE Raw Sugar futures and futures options trade on the Tokyo Grain Exchange (TGE). They were launched on May 7, 1952 and May 6, 1992, respectively[1][2].

Each TGE Raw Sugar futures contract represents 50,000 kilograms (50 metric tons) of standard or deliverable grade raw centrifugal cane sugar, which is defined in accordance with the Exchange rules, and its delivery date is set as between the 15th calendar day of the preceding month of the delivery month (if not a business day, the first delivery day is moved up to the nearest business day) and the last day of the delivery month.

As of July 2008, each TGE Raw Sugar futures contract is subject to a margin rate of 105,000 yen for the spot month and 75,000 yen for the other months.

In June 2008, TGE Raw Sugar futures traded 28,175 contracts (-40.9 percent YOY) and its turnover amounted to 107.3 billion yen (-27.9 percent YOY).



TGE Raw Sugar futures
Exchange Tokyo Grain Exchange
Settlement Physically delivered
Contract Size 50,000 kilograms (50 metric tons)
Pricing Unit ¥50 per contract
Tick Value ¥500 per contract
Contract Months January, March, May, July, September, and November within a fourteen-month period
Last Trading Day The last business day two months prior to the delivery month.
Note: This contract is electronic ONLY -- no open outcry
  No Open Outcry Electronic
Trading Hours N/A 9:45 a.m., 10:45 a.m., 1:45 p.m., 2:45 p.m., 3:45 p.m.
  • 9:45 a.m., 10:45 a.m. on the last trading day
Ticker Symbol N/A N/A
Price Limits N/A
  • Contracts of under ¥15,000 = ¥600
  • Contracts from ¥15,000 to ¥35,000 = ¥800
  • Contracts of ¥35,000 or more = ¥1,000
  • No price limits in the spot month from the 1st of the two months preceding the delivery month.
 
TGE Raw Sugar options
Trade Unit One futures contract
Point Value Need point value!
Tick Value 10 yen per 1,000 kilograms (500 yen per contract)
Option Months January, March, May, July, September and November within a fourteen-month period.
Strike Prices 1,000 yen per 1,000 kilograms intervals with one strike price at-the-money and minimum of three strike prices above and three below.
  No Open Outcry Electronic
Trading Hours N/A Morning Session
  • Opening Session 9:45 a.m. to 10:05 a.m.
  • Continuous Session 10:05 a.m. to 11:30 a.m.

Afternoon Session

  • Opening Session 1:45 p.m. to 2:00 p.m.
  • Continuous Session 2:00 p.m. to 3:45 p.m.
  • Closing Session 3:45 p.m. to 3:55 p.m.
Ticker Symbol N/A N/A
Price Limits N/A
  • Contracts of under ¥15,000 = ¥600
  • Contracts from ¥15,000 to ¥35,000 = ¥800
  • Contracts of ¥35,000 or more = ¥1,000
  • No price limits in the spot month from the 1st of the two months preceding the delivery month.

Notes

Resources

Tokyo Grain Exchange Raw Sugar Futures Contract Specifications

Tokyo Grain Exchange Options on Raw Sugar Futures Contract Specifications

References

  1. Raw Sugar Futures Contract Specifications. Tokyo Grain Exchange.
  2. Options on Raw Sugar Futures Contract Specifications. Tokyo Grain Exchange.