Mondo Visione Worldwide Financial Markets Intelligence

FTSE Mondo Visione Exchanges Index:

Tokyo Commodity Exchange: Circuit Breakers For December 2010

Date 25/11/2010

     

  1. CB Trigger Levels  

                                                                                                                      (in JPY) / * Point

    Commodity
    (Mini & Options Included)
    Initial CB Trigger Levels
    (also CB Expansion Amounts)
    Gold 100

    Silver

    2.5
    Platinum 200
    Palladium 60
    Gasoline 2,400
    Kerosene 2,400
    Crude Oil 2,400
    Gas Oil 2,400
    Chukyo Gasoline 2,400
    Chukyo Kerosene 2,400
    Rubber 10.0
    Nikkei - Tocom Commodity Index 15.0*

     

  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 and second 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
    * CB Trigger Level after Second Trigger = 20 (previous trigger level) + 10 (expansion amount) = 30

    (b) From the third 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 30).  However, when deemed necessary by the Exchange, the halt period and trigger level expansion may be modified.