| Date Trading Began |
May 12, 1951 |
| Contract Unit |
60 kilograms |
| Delivery
Unit |
300 kilograms, equivalent to 5 contract units |
| Trading Hours |
(Session Trading)
9:00 a.m. and 3:00 p.m.
*9:00 a.m. on the last trading day of the spot month. |
| Contract Month |
6 consecutive months |
| Price Quotation |
Yen per kilogram |
| Minimum Fluctuation |
1 yen per kilogram (60 yen per contract) |
| Daily Price Limit *1 |
140 yen per kilograms (8,400 yen per contract) above or below the previous business day's settlement
price. Variable limits are applied under certain situations. No price limits in the spot month from the 15th
calendar day of the delivery month. |
| Position Limits |
Maximum long or
short positions for each contract month:
| |
Members |
Non-Members |
Managed
Funds |
Omnibus
Accounts |
| Spot
month |
200 |
100 |
100 |
100 |
| 2nd
month |
500 |
300 |
300 |
300 |
| 3rd
month |
1000 |
500 |
500 |
1,000 |
| 4th
month onward months |
2,000 |
1,000 |
2,000 |
2,000 |
|
* Non-domestic customers who trade through omnibus
accounts should contact their FCM for position limits. |
| Last Trading Day |
Two business days prior to the delivery
day. |
| Delivery Day |
The business day prior to the last business
day of the delivery month.
December 24th for the December contract; if not a
business day, the delivery day is moved up to the nearest business day. |
| Standard Grade |
26 denier Grade 5A raw silk inspected by
the Zhejiang Import & Export Commodity Inspection Bureau of the People's
Republic of China |
| Deliverable Grades |
The raw silk satisfying either of the
following conditions can be delivered:
Raw silk subject to grading inspection based on the JAS Law of Japan, or produced and inspected
by exchange designated raw silk production plants in the Federative Republic of Brazil |
|
|
Premium: Grade 6A with 20, 21, 27 or 31 denier
Par: Grade 5A with 20, 21, 27 or 31 denier
Discount: Grade 3A or 4A with 20, 21, 27 or 31 denier |
|
|
|
| Raw silk inspected by the Zhejiang Import & Export Commodity Inspection Bureau of the People's
Republic of China. |
|
Premium: Grade 6A with 20, 21, 26 or 30 denier
Par: Grade 5A with 20, 21 or 30 denier
Discount: Grade 3A or 4A with 20, 21, 26 or 30 denier |
|
|
| Raw silk inspected by the Jiangsu or Shandong Import & Export Commodity Inspection Bureau of
the People's Republic of China. |
|
Premium: Grade 6A with 20, 21, 26 or 30 denier
Par: Grade 5A with 20, 21 or 30 denier
Discount: Grade 3A or 4A with 20, 21, 26 or 30 denier |
|
| Delivery Points |
Designated warehouses in the Tokyo metropolitan area and the prefectures of Kanagawa, Hyogo and
Kyoto. |
| *1: The daily price limit is decided at Board of Directors meeting in March, June, September and December, which will apply to all
contract months for 3 months following the month when such meeting is held. When deciding the price limit for the following
three months, the Exchange calculates the top 95 % value of cumulative frequency distribution in price fluctuation of all contract
months for raw silk futures over the last 1, 3 and 6 months, and the lowest value is used as the basis of computation of the daily
price limit (rounded to the nearest 10 yen above). |
|
