.jpg)
Along with the launch of a Gold Mini futures contract (100 g), and for its market to be more in line with international standards, as of July 1, 2007 TOCOM has implemented the following 2 major modifications in the Gold Standard contract (1 kg).
1) Price Limit expansion
Daily Price Fluctuation Limits are now determined based on the largest market price movement within a certain period of time and are set at a level where the probability that they will be reached is very low.
The Price Limit for July 2007 is JPY 120 (June 2007: JPY 60).
2) Position Limit largely eased
a) The Position Limit applicable to members that used to be determined based on the amount of net worth and would expand gradually will now be set at the same level for all members at twice the previous maximum Position Limit.
Position Limit for members (all contract months combined): 20,000 Contracts.
(previous maximum Position Limit: 10,000 contracts)
b) The Position Limit applicable to customers that used to apply to all customers will now differ between commercials and non-commercials, with a Position Limit for Commercials 4 times greater than the previous one.
Position Limit for commercials (all contract months combined): 20,000 contracts.
(previous amount: 5,000 contracts)
