Final settlement price of Middle East Crude Oil for August 2008 contract is 77,750 yen.
On the last trading day, trading for August contract is only settled by offsetting current positions by resale or repurchase based on this final settlement price.
Please also note that on the last trading day, only market orders are accepted.
The final settlement price is calculated as follows.
Original Data
1. Monthly average of Dubai and Oman Crude Oil: 113.069 ($/bbl)
2. Monthly average currency exchange rate: 109.33 (JPY/$)
Calculating Formula
(Monthly Average of Dubai + Monthly Average of Oman) /2 * (Monthly Average Exchange Rate / 0.1590 )
=113.069 * 109.33 / 0.1590
=77,750
Resulting figure is rounded to the tens place.
Final Settlement Price: 77,750 yen
