Tokyo Grain Exchange: Advisory Notice Regarding Margins Requirements To Futures Contracts For Azuki (Red Beans), Arabica And Robusta Coffee, Corn, Raw Silk, Soybeans, Refined Sugar And Raw Sugar (Excluding Non-GMO Soybean Futures)

The Exchange will take the following steps against the highly volatile market situation:

1. If the final contract prices of 3 or more futures contract months reach the upper or lower price limit in the same direction on 3 consecutive business days, in principle, the Exchange will collect an additional amount of extraordinary margin of the amount equal to 100% of Minimum Initial Margins (rounded to the nearest 10,000 yen) for newly established positions on all contract months from the following business day.
2. For Azuki (Red Beans), Corn, Raw Silk, Refined Sugar and Soybean futures contracts, after the above measures are applied, if the final contract prices of all of the contract months are established within the price limit (including the case when the prices close at the upper or lower price limit in both directions*) on the following business day, in principle, the Exchange will lift the collection of the extraordinary margin specified in (1) above. *Not including cases when trades are executed at the upper or lower limit price in same directions by the drawing and allocation of lots in the call market.
3. For Arabica Coffee, Robusta Coffee and Raw Sugar futures contracts, after the above measures are applied, if the final contract prices of all of futures contract months after the following business day are established within the price limit (including the case when the prices close at the upper or lower limit price in opposite direction prior to the application of the above measures, but not including the case when the prices close at the upper or lower limit price in same direction), in principle, the Exchange will lift the collection of the extraordinary margin specified in (1) above.

This Advisory Notice shall come into effect on March 28, 2008.