Circuit Breaker (CB) Trigger Levels from January 4, 2012(Please see below for current CB Trigger Levels)
The initial CB level and the operation of when the CB level is triggered effective January 4, 2012 is as follows:
Product
Initial Circuit Breaker
Product
Initial Circuit Breaker
Rice
JPY300
Azuki (red beans)
JPY350
Corn
JPY1,000
Arabica Coffee
JPY1,400
Soybeans
JPY2,000
Robusta Coffee
JPY1,400
Non-GMO Soybeans
JPY2,000
Raw Sugar
JPY2,000
Process following a Circuit Breaker
trigger
(1) All products excluding the rice
and azuki (red beans) futures market
1) If the first and second
circuit breaker level is triggered, trading will suspend temporarily for 5
minutes and the circuit breaker will be expanded. Following the suspension,
trading will resume.
Example using corn: If the circuit breaker level is triggered for corn
When the first circuit breaker is triggered, the circuit breaker will be expanded. JPY1,000 (the initial circuit breaker) + JPY1,000 (expansion of the circuit breaker) = JPY2,000. When the 2nd circuit breaker is triggered, JPY2,000 (from the 1st expanded circuit breaker trigger) + JPY1,000 (expansion of the circuit breaker) = JPY3,000 will be the circuit breaker.
2) Following the 3rd
circuit breaker level trigger, the circuit breaker will not be
expanded. (Example: for corn it will remain at JPY3,000) and following the 5
minute trading suspension, trading will resume. However, if the Exchange deems it necessary, the suspension time and expanded circuit breaker may change.
(2)
For the rice and azuki (red beans) futures market
1) For rice and azuki,
if the first
circuit breaker level is triggered, trading will suspend temporarily for 5
minutes and the circuit breaker will be expanded. Following the suspension,
trading will resume.
Example using rice: When the first circuit breaker level is triggered, the circuit breaker will be expanded.
JPY300 (the initial circuit breaker) + JPY300 (expansion of the circuit breaker) = JPY600
2) Following the 2nd circuit breaker trigger, the circuit breaker will not be expanded (remain at JPY600). Trading will resume after a 5 minute suspension. However, if the Exchanges deems it necessary, the suspension time and expanded circuit breaker may change.
