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 |
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| Trading Hours | 8:45-15:45, 17:00-6:00
(Note) An order acceptance period ("pre-closing") is established for 5 minutes before the Itayose on close. Trading Hours |
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| 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 | JPY 1 per gram (JPY 100 per Contract Unit) | ||||||
| Price Limits |
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| Circuit breaker | Trading will be suspended while Gold Standard Futures is in SCB state.
Price Limits/ Circuit Breaker Rule |
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| Strategy Trades | The inter-commodity spread trading is available. | ||||||
| J-NET Trading | Available（Tick size：JPY 0.01, Minimum trading unit：1 unit） J-NET Trading |
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| Holiday Trading | Available Holiday Trading |
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| 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. |
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| 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) |
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| Settlement | Resale or repurchase | ||||||
| Give-Up | Available Give-Up System |
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| Position-Transfer | Available Position Transfer System |
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| Position Reporting | Not required |