Published On: Sun, Apr 3rd, 2011

TOCOM NEXT Contract Month Transaction Starts on May 2

Tokyo Commodity Exchange, Inc. (“TOCOM”) announced that the Exchange has received approval from the Minister of Economy, Trade and Industry to amend its business rules and other concerned regulations in order to change the contract specification of Nikkei-TOCOM Commodity Index Futures. Based on this approval, the Exchange fixed on the starting date of transaction of TOCOM NEXT as Contract Month Transaction, an ordinary type of futures contract (futures contract with expiry) on May 2, 2011. The existing Contract Day Transaction (i.e: a contract without expiry), which was started on March 23, 2010, will be terminated on February 29, 2012.

With this change, the Exchange aims for improving the convenience of the index product and revitalizing its trade while setting the sufficient period of time for transition from the Contract Day Transaction to the Contract Month Transaction.

At the launch of the Contract Month Transaction on May 2, the March 2012 contract will be the only listed contract month. From December 30, 2011, which is the first trading day of the June 2012 contract, the listed contract months will always consist of two contract months.

With regard to the positions of the current Contract Day Transaction, all remaining positions will be automatically settled on February 29, 2012 against Settlement Index Point for the day.

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