Launch of TOCOM’s New Chukyo Oil Market Is Now Officially Set for October 12, 2010
By launching the Chukyo Oil Market, TOCOM intends primarily to offer a forum where trading participants of the oil market operated by Central Japan Commodity Exchange (C-COM), which has already announced to close at the end of January 2011, can continue to trade. At the new market, gasoline and kerosene will be the listed commodities and their contract specifications will be identical to the current C-COM product in order to facilitate transition of the C-COM trading participants to TOCOM’s new oil market. (At the launch of the market, the listed contract months will consist of the February 2011, March 2011 and April 2011 contracts.)
TOCOM will adopt its trading method (individual auction by electronic trading -multiple executions, continuous trading) and extended trading hours (9:00-15:30, 17:00-4:00) to the Chukyo Oil Market so as to improve convenience of the market including trading opportunities. It is expected that the Chukyo Oil Market will also attract new market players, which shall lead to the revitalization of the commodity market as well as to the enhancement of TOCOM’s corporate value.
As of today, 37 trading participants have acquired membership of this new market.
Contract Specifications
Chukyo Oil Market
Trading Method:
Individual auction by electronic trading (multiple executions, continuous trading)
Trading Hours:
* Day session: 9:00 - 15:30
* Night session: 17:00 - 4:00 (next day)
Contract Unit
10 kiloliter / contract
Delivery Unit
10 kiloliter / contract
Delivery Point
Oil tank facilities located in Nagoya city and Amanokori-gun of Aichi Prefecture
Delivery Method
Tanker lorry
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