Palladium
| Exchange | Tokyo Commodity Exchange |
| Type | Commodity |
| Underlying | Palladium 99.95% purity |
| Currency | Japanese Yen (JPY) |
| Contract Size | 500 grams (approximately 16.08 troy ounces) |
| Tick Size | 1.0 |
| Tick Value | 500 JPY |
| Pre-Open 1 | |
| Trading Session 1 | 09:00 to 15:30 |
| Pre-Open 2 | |
| Trading Session 2 | |
| Pre-Open T+1 | |
| Trading Session T+1 | 17:00 - 23:00 |
| Last Trading Day | The third business day prior to the Delivery Day. |
| Delivery Day | The last day of each even month except December (the 28th for December). If the day is a holiday or a half-day holiday, Delivery Day is the preceeding business day. |
| Final Settlement Price | |
| Settlement Type | Physical |
| Deliverable Grade | 99.95% pure. 3.0 kg (Delivery unit = 6 contract units). The Acceptable Weight Range of Deliverable Goods shall be +/-15% per contract. |
| Delivery Point | Specified warehouses within Tokyo |
| Delivery Method | The Party Making Delivery submits to the Exchange a warehouse receipt, issued by a TOCOM-designated warehouse. The Party Taking Delivery submits to the Exchange the Delivery Value based on the delivery price. |
| Contract Months | All even months within a year. Feb, Apr, Jun, Aug, Oct, Dec |
| First Trading Day | Trading session on the business day following the Last Trading Day of the current contract month. |
| Position Limit | Customers excluding commercials and investment funds: 1st contract month in an even month: 60 contracts 1st contract month in an odd month: 120 contracts 2nd contract month: 240 contracts All contract months combined: 2,500 contracts Commercials and investment funds: |
| Block Size | |
| Initial Margin (outright) | Varies |
| Maintenance Margin (outright) | Varies |
| Clearinghouse Margin (outright) | |
| Listed Spread | No |
| Initial Margin (spread) | |
| Maintenance Margin (spread) | |
| Clearinghouse Margin (spread) | |
| Daily Price Limit | Varies. It’s based on the settlement price of the previous clearing period |
| Options | No |
| Exchange Symbol | 14 |
| Reuters Symbol | TCE/JPA |
| Bloomberg Symbol | JMA |
| ISIN Symbol | |
| SEDOL | |
| Notes |
