Circuit breakers in and after February 12, 2013 will be handled as follows for the time being; provided, however, that the Exchange might change the Initial CB Trigger Levels, CB Expansion Amounts, and number of expansion, etc., when it deems necessary.
With regard to the futures contracts of soybean, azuki (red beans), corn and raw sugar, which are scheduled for the start of trading on February 12, the CB trigger level for each contract will be set based on the settlement prices of February 8 on the Tokyo Grain Exchange market.1. CB Trigger Levels
Commodity
(Mini & Options Included)Initial CB Trigger Levels
(also CB Expansion Amounts)Operation of CB Number of expansion Duration
of a HaltPrecious Metals Gold .150 yen 3 times 5 minutes Silver .6.0 yen Platinum .200 yen Palladium .100 yen Oil Gasoline .2,400 yen Kerosene .2,400 yen Crude Oil .2,400 yen Gas Oil .2,400 yen Chukyo-Oil Chukyo Gasoline .2,400 yen Chukyo Kerosene .2,400 yen Rubber Rubber5.0 yen Agricultural Product and Sugar Soybean 2,000 yen Twice Azuki 350 yen Once Corn 1,000 yen Twice Raw Sugar 2,000 yen
- CB is triggered for each contract month.
- For each CB trigger, the trading session will be halted for 5 minutes from the time of the trigger. Trading will then resume with an expanded CB.
- From the CB trigger exceeding the number of expansion set forth for each product, trading will resume after a 5-minute halt, but the CB trigger level will not be expanded.
- As for the Rubber market, the CB trigger level will not be expanded, in principle, from the fourth CB trigger except for the nearest contract month.
- When deemed necessary by the Exchange, however, the halt period and trigger level expansion may be modified.
2. Process Following a CB Trigger
3. Examples of CB Expansion
(1) Example for Gold (figures are in JPY)
· CB Trigger Level after 1st Trigger = 150 (initial trigger level) + 150 (expansion amount) = 300
· CB Trigger Level after 2nd Trigger = 300 (previous trigger level) + 150 (expansion amount) = 450
· CB Trigger Level after 3rd Trigger = 450 (previous trigger level) + 150 (expansion amount) = 600(2) Example for Azuki (figures are in JPY)
· CB Trigger Level after 1st Trigger = 350 (initial trigger level) + 350 (expansion amount) = 700
· CB Trigger Level after 2nd Trigger = 700