Published On: Mon, Oct 27th, 2014

TOCOM Circuit Breakers In And After 4th November 2014

Tadashi Ezaki CEO TOCOM -

Tadashi Ezaki CEO TOCOM –

Circuit breakers in and after November 4th, 2014 will be handled as follows for the time being; provided, however, that the Exchange might change the Initial CB Trigger Levels, CB Expansion Amounts, and number of expansion, etc., when it deems necessary.

 

 

 

CB Trigger Levels

Commodity
(Mini & Options Included)

Initial CB Trigger Levels
(also CB Expansion Amounts)

Operation of CB
Number of expansion

Duration of a Halt

Precious Metals Gold . 150 yen 3 times 5 minutes
Silver . 6.0 yen
Platinum . 200 yen
Palladium . 100 yen
Oil Gasoline . 2,400 yen
Kerosene . 2,400 yen
Crude Oil . 2,400 yen
Gas Oil . 2,400 yen
Chukyo-Oil Chukyo Gasoline . 2,400 yen
Chukyo Kerosene . 2,400 yen
Rubber Rubber 5.0 yen
Agricultural Product and Sugar Soybean From Nov 1,000yenUntil Oct 1,200 yen Twice
Azuki 350 yen Once
Corn From Nov 400yenUntil Oct 500 yen Twice
Raw Sugar 2,000 yen

1.Process Following a CB Trigger

(1)CB is triggered for each contract month.

(2) For each CB trigger, the trading session will be halted for 5 minutes from the time of the trigger. Trading will then resume with an expanded CB.

(3)From the CB trigger exceeding the number of expansion set forth for each product, trading will resume after a 5-minute halt, but the CB trigger level will not be expanded.

(4)As for the Rubber market, the CB trigger level will not be expanded, in principle, from the fourth CB trigger except for the nearest contract month.

(5)When deemed necessary by the Exchange, however, the halt period and trigger level expansion may be modified.

2.Examples of CB Expansion

(1)Example for Gold (figures are in JPY)

CB Trigger Level after 1st Trigger = 150 (initial trigger level) + 150 (expansion amount) = 300
CB Trigger Level after 2nd Trigger = 300 (previous trigger level) + 150 (expansion amount) = 450
CB Trigger Level after 3rd Trigger = 450 (previous trigger level) + 150 (expansion amount) = 600

(2)Example for Azuki (figures are in JPY)

CB Trigger Level after 1st Trigger = 350 (initial trigger level) + 350 (expansion amount) = 700
CB Trigger Level after 2nd Trigger = 700

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