TOCOM Starts to Prepare for Launching Nikkei-TOCOM Commodity Index Contract
The board of directors’ meeting was held on October 20, 2009, and determined to take a step towards the listing. Based on the decision, TOCOM will start to prepare for the launch of the Nikkei-TOCOM Commodity Index from now on. The below is the draft specification of the contract.
Nikkei-TOCOM Commodity Index – Contract Specification (draft)
Market – Commodity Index Market (pilot)
Trading Method – CFD (Contract for Difference)
Type of Trade – Nikkei-TOCOM Commodity Index
Swap Point – N/A
Trading Hours – Day session: 09:00 -15:30 (JTS) / Night session: 17:00 – 23:00 (JTS)
Settlement Price – Index price calculated based on settlement prices of the underlying commodity futures contracts at the end of day session (15:30).
Mark-to-Market – 15:30 (once a day), T+1
Contract Size & Minimum Price Fluctuation – 5,000 * the futures price
Minimum Price Fluctuation – 0.1 point
Position Limits – N/A
Margins – Spot Month Additional Clearing Margin: N/A
Other margins: Will be set according to the same principle as those applied to the other contracts.