Tokyo Grain Exchange Soybeans

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TGE Soybeans futures and futures options trade on the Tokyo Grain Exchange (TGE). They were launched on March 1, 1984 and June 3, 1991, respectively [1][2].

Each TGE Soybean futures contract represents 50,000 kilograms (50 metric tons) of standard or deliverable grade GMO, GMO mixed and GMO non-segregated yellow soybeans, which is defined in accordance with the Exchange rules, and its delivery date is set as between three business days following the last trading day and the last day of the delivery month (For December contract, the last delivery day is three business days prior to the last business day of December).

As of July 2008, each TGE Soybean futures contract is subject to a margin rate of 160,000 yen for the spot month and 120,000 yen for the other months.

In June 2008, TGE Soybean futures traded 76,845 contracts (-36.7 percent YOY) and its turnover amounted to 579.4 billion yen (-1.9 percent YOY).



TGE Soybeans 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 February, April, June, August, October, and December within a twelve-month period
Last Trading Day Fifteenth calendar day of the delivery month; if that day is not a business day, then the last trading day is moved up to the nearest business day.
Note: This contract is electronic ONLY -- no open outcry
  No Open Outcry Electronic
Trading Hours N/A 10:00 a.m., 11:00 a.m., 1:00 p.m. and 2:00 p.m.
  • 10:00 a.m. and 11:00 a.m. on the last trading day.
Ticker Symbol N/A N/A
Price Limits N/A
  • Contracts of under ¥20,000 = ¥600
  • Contracts from ¥20,000 to ¥40,000 = ¥800
  • Contracts of ¥40,000 or more = ¥1,000
  • No price limits in the spot month from the 1st of the delivery month.
 
TGE Soybeans 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 February, April, June, August, October and December within a twelve-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 10:15 a.m. to 10:35 a.m.
  • Continuous Session 10:35 a.m. to 11:30 a.m.

Afternoon Session

  • Opening Session 1:15 p.m. to 1:30 p.m.
  • Continuous Session 1:30 p.m. to 2:15 p.m.
  • Closing Session 2:15 p.m. to 2:25 p.m.
Ticker Symbol N/A N/A
Price Limits N/A
  • Contracts of under ¥20,000 = ¥600
  • Contracts from ¥20,000 to ¥40,000 = ¥800
  • Contracts of ¥40,000 or more = ¥1,000
  • No price limits in the spot month from the 1st of the delivery month.

Notes

Resources

Tokyo Grain Exchange Soybean Futures Contract Specifications

Tokyo Grain Exchange Options on Soybean Futures Contract Specifications

References

  1. Soybean Futures Contract Specifications. Tokyo Grain Exchange.
  2. Options on Soybean Futures Contract Specifications. Tokyo Grain Exchange.