Mondo Visione Worldwide Financial Markets Intelligence

FTSE Mondo Visione Exchanges Index:

Tokyo Commodity Exchange: Circuit Breakers For March 2010

Date 23/02/2010

    1. CB Trigger Levels

    (in JPY) / * Point
    Commodity
    (Mini & Options Included)
    Initial CB Trigger Levels
    (also CB Expansion Amounts)
    Gold 100
    Silver_[ APR ’10 - OCT'10 ]
    25.0
    Silver_[ DEC'10 - FEB'11 ]
    2.5
    Platinum 200
    Palladium 60
    Aluminum 10.0
    Gasoline 2,400
    Kerosene 2,400
    Crude Oil 2,400
    Rubber 10.0
    Commodity Index 10.0 *

 

    2. Process Following a CB Trigger

    (1) All Commodities Except Rubber

    (a) For the first, second and third 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.

    Example for Gold (figures are in JPY):
    * CB Trigger Level after First Trigger = 100 (initial trigger level) + 100 (expansion amount) = 200
    * CB Trigger Level after Second Trigger = 200 (previous trigger level) + 100 (expansion amount) = 300
    * CB Trigger Level after Third Trigger = 300 (previous trigger level) + 100 (expansion amount) = 400

    (b) From the fourth CB trigger, trading will resume after a 5-minute halt, but the CB trigger level will not be expanded (for the gold example above, the CB trigger level will stay at JPY 400).  However, when deemed necessary by the Exchange, the halt period and trigger level expansion may be modified.

    (2) Rubber

    (a) For the first 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.
    * CB Trigger Level after First Trigger = 10 (initial trigger level) + 10 (expansion amount) = 20

    (b) From the second CB trigger, trading will resume after a 5-minute halt, but the CB trigger level will not be expanded (the CB trigger level will stay at JPY 20).  However, when deemed necessary by the Exchange, the halt period and trigger level expansion may be modified.