TOCOM Circuit Breakers In And After May 2014
Circuit breakers in and after May 1st, 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.
|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||
|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|
|Agricultural Product and Sugar||Soybean||From May 1,200yenUntil April 2,000 yen||Twice|
|Corn||From May 500yenUntil April 1,000 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