LNG (Platts JKM) Futures
Contract Specification
| Type of Trade | Cash-settled Futures Transaction | ||||||
| Target of Trade | Spot LNG cargo delivered ex-ship to Japan and Korea | ||||||
| Opening Date | April 4, 2022 | ||||||
| Trading Hours | 8:45-15:45, 17:00-6:00
(Note) An order acceptance period ("pre-closing") is established for 5 minutes before the Closing Auction. Trading Hours |
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| Contract Months | Nearest 15 contract months | ||||||
| Last Trading Day | Day session on 15th day of the month immediately preceding the month in which the current contract month falls (if the day falls on a holiday, it shall be moved up) | ||||||
| Final Settlement Day | A business day following the Last Trading Day of the current contract month. | ||||||
| Contract Unit | 1,000 mmBtu / contract | ||||||
| Price Increment | JPY 1 per mmBtu | ||||||
| Price Limits |
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| Circuit Breaker Rule (SCB) | Price Limits/ Circuit Breaker Rule | ||||||
| Strategy Trades | The calendar spread trading is available. | ||||||
| Off-floor Transactions | Available (Tick size: JPY 0.01, Minimum trading unit: 1 unit) Off-floor Transactions Detailed Rules |
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| 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 | Average of the Platts JKM prices during the period from the 16th of the two month prior to the contract month to the 15th of the prior month of the contract month.
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| Customer Position Limits | No Position Limit | ||||||
| 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 |
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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.)
Measurement date: Every business day (at the end of the day session) |
(Note)
- ･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.