Platts Dubai Crude Oil Futures
Contract Specification
| Type of Trade | Cash-settled Futures Transaction | ||||||
| Target of Trade | Middle East Crude Oil (The value of Dubai which acts as the benchmark price of Middle East Crude Oil) | ||||||
| Opening Date | September 10, 2001 | ||||||
| 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 the last business day of the current contract month. | ||||||
| Final Settlement Day | A business day following the Last Trading Day of the current contract month. | ||||||
| Contract Unit | 50kl(approximately 314.49 barrels)/ contract | ||||||
| Price Increment | JPY 10 per kl (JPY 500 per Contract Unit) | ||||||
| Price Limits |
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| Circuit Breaker Rule (SCB) | In the case where a buy (or sell) order is placed in the central contract month at the upper (or lower) price limit obtained by adding (or subtracting) the Circuit Breaker Trigger Level to (or from) the reference price, trading in all contract months are suspended for at least 10 minutes. Price Limits/ Circuit Breaker Rule |
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| Strategy Trades | The calendar spread trading and the inter-commodity spread trading are available. | ||||||
| Off-floor Transactions | Available (Tick size: JPY 0.1, 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 | Yen-based monthly average of Dubai crude oil prices calculated by the Exchange based on the prices reported by a price information vendor (as a general rule, platts)
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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.