Electricity Futures
Contract Specifications（Weekly）
| East Area Baseload Electricity (Weekly) |
West Area Baseload Electricity (Weekly) |
East Area Peakload Electricity (Weekly) |
West Area Peakload Electricity (Weekly) |
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| Type of Trade | Cash-settled Futures Transaction | |||||||||||
| Underlying | Average Price of JEPX* Spot Market(Day-Ahead) for the Tokyo Area Baseload Price (0:00~24:00) | Average Price of JEPX* Spot Market(Day-Ahead) for the Kansai Area Baseload Price (0:00~24:00) | Average Price of JEPX* Spot Market(Day-Ahead) for the Tokyo Area Peakload Price (8:00~20:00) | Average Price of JEPX* Spot Market(Day-Ahead) for the Kansai Area Peakload Price (8:00~20:00) | ||||||||
| Opening Date | March 18, 2024 | |||||||||||
| Trading Hours | 8:45-15:45, 17:00-19:00 (Note) An order acceptance period ("pre-closing") is established for 5 minutes before the Closing Auction. Trading Hours |
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| Contract Weeks | 5 Consecutive Weeks | |||||||||||
| Last Trading Day | The business day before Friday of each week | The business day before Friday of each week (to be moved up if Friday is not a weekday) | ||||||||||
| Final Settlement Day | The business day following the last trading day. | |||||||||||
| Contract Unit (Contract base size: 100 kWh) | No. of calendar days in the relevant period from Saturday to next Friday x 24 hours x 100 kWh Contract unit (Electricity Futures) |
No. of weekdays in the relevant period from Saturday to next Friday x 12 hours x 100 kWh Contract unit (Electricity Futures) |
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| Price Increment | JPY 0.01 per kWh | |||||||||||
| Price Limits |
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| Circuit Breaker Rule (SCB) | No trading Halt | |||||||||||
| Strategy Trades | N/A | |||||||||||
| Off-floor Transactions | Available (Tick size: JPY 0.01, Minimum trading unit: 1 unit) Off-floor Transactions Detailed Rules | |||||||||||
| Holiday Trading | Available Holiday Trading |
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| Daily Settlement Price | The price determined by Japan Securities Clearing Corporation (JSCC) based on the Final Execution Price, etc. | |||||||||||
| Final Settlement Price | JEPX Spot Market (Day Ahead) Tokyo Area Baseload average price of the week (from Saturday to next Friday) | JEPX Spot Market (Day Ahead) Kansai Area Baseload average price of the week (from Saturday to next Friday) | JEPX Spot Market (Day Ahead) Tokyo Area Peakload (8:00-20:00 of weekdays) average price of the week (from Saturday to next Friday) | JEPX Spot Market (Day Ahead) Kansai Area Peakload (8:00-20:00 of weekdays) average price of the week (from Saturday to next Friday) | ||||||||
| Customer Position Limits | Differences between short & long position (Net amount)
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Differences between short & long position (Net amount)
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| Margin | Calculated by VaR Method Margin Calculated Method (VaR Method) for Futures and Options (JSCC) |
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| Settlement |
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| Give-Up | Available Give-Up System |
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| Position-Transfer | Available Position Transfer System (JSCC) |
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| Position Reporting |
Applicable contract months: All contract months Parties required to report: Trading Participants and Eligible Intermediaries, when short or long positions entrusted by a single client exceed the reporting criteria below Information to be reported: Short positions and long positions for all contract months for the relevant issues (Even if only one of the short or long position for one contract month exceeds the reporting criteria, it is necessary to report the quantities of both short and long positions in all contract months.)
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- JEPX: Japan Electric Power Exchange. JEPX is Japan's only exchange facilitating wholesale electricity trades.
(Note)
- ･The relevant period of each weekly contract is a week starting from Saturday to next Friday.
- ･The first weekly contract of the year shall be the contract which the last trading day is a business day before the first Friday of the year and shall be counted as a weekly contract number "1".
- ･The number will increase for each weekly contract within a year. For the week with no weekdays, no peakload contract will be created (missing number).
Please see contrac unit page for the details of each weekly contract.
- ･Eligible Intermediaries are brokers, foreign securities services providers, or foreign commodity futures brokers who are subject to the application of special measures concerning limits on the quantity of positions.