TOCOM Response in Case of Unpredictable, Large-Scale Blackout
As a market operator listing internationally traded commodities, TOCOM has the responsibility to provide a trading forum, in order to fulfill its price discovery function, as well as to maintain price correlation with foreign markets.
Please find below the TOCOM’s response in case the unpredictable, large-scale blackout occurs.
* In case the unpredictable, large-scale blackout occurs, the Exchange shall make a decision, after careful consideration, on the suspension of trading session in accordance with the “Contingency Plan for Cases Including System Failure (CP)”.
* When the Exchange decides the suspension of trading session according to TOCOM CP policy, substantial occurrence (1/3 of trading volume) of Member system failures shall be considered.
* Suspension and reopening of a trading session shall be conducted as follows:
1. If the blackout occurs during day session trading hours, the session shall be suspended. Then, if the Exchange decides the continuation of a Trading session is possible, the following night session shall be open.
2. If the blackout occurs during night session trading hours, the session shall be suspended. Then, if the Exchange decides the continuation of a Trading session is possible, the day session of following business day shall be open.