Gold Rolling-Spot Futures

Contract Specifications

Type of Trade Cash-settled Futures (Rolling Spot Futures)
Target of Trade Gold of minimum 99.99% fineness
Opening Date May 7, 2015
(Note) transferred from TOCOM on July 27, 2020
Trading Hours 8:45-15:15, 16:30-6:00
(Note) An order acceptance period ("pre-closing") is established for 5 minutes before the Itayose on close.
Trading Hours
Contract Term One Clearing Period (Rolling Spot Futures)
About Rolling Spot Futures Rolling Spot Futures contract is established during the session in a given Clearing Period or as a result of the roll-over process executed at the close of the session for the Clearing Period immediately preceding said given Clearing Period, and closed through an offsetting resale or repurchase or as a result of the roll-over process executed at the close of session in the Clearing Period in which the position was established.
Contract Unit 100g
Price Increment \1 per gram (\100 per Contract Unit)
Price Limits
  1. The price limit range shall be calculated by multiplying the reference price of price limits by the following rates.
    Normal 5%
    1st Expansion 10%
    2nd Expansion 15%
    (Note) The price limits will be expanded to the 1st expansion of price limits, and then to the 2nd expansion of price limits (Only price limits in one direction, up or down, will be expanded.)
    Price Limits/ Circuit Breaker Rule
    (Note) OSE may review price limit temporarily considering market conditions and other factors.
  2. Immediately Executable Price Range (DCB) : LTP ±\40
    ※However, the DCB Price Range for Opening Auction and Closing Auction will be ±\120 and ±\80 respectively.
    Immediately Executable Price Range Rule
Circuit breaker Trading will be suspended while Gold Standard Futures is in SCB state.
Price Limits/ Circuit Breaker Rule
Strategy Trades The inter-commodity spread trading is available.
J-NET Trading Available(Tick size:\0.01, Minimum trading unit:1 unit)
J-NET Trading
Holiday Trading Available
Holiday Trading
Settlement Price Theoretical spot price

(Note) Theoretical spot price is calculated as follows.
First, the Forward Rate is calculated using the settlement prices of the second contract month and the sixth contract month of the Gold Standard. Then, taking the number of days remaining until the expiry into consideration, the theoretical price is calculated from the settlement price of the second contract month, using the Forward Rate.
Customer Position Limits (separately for long and short positions) No Position Limits
Margin Calculated by VaR Method
Margin Calculation Method (VaR Method) for Futures and Options (JSCC)
Settlement Resale or repurchase
Give-Up Available
Give-Up System
Position-Transfer Available
Position Transfer System
Position Reporting Not required