Each TOCOM Palladium futures contract represents 500 grams of deliverable grade palladium, which is defined as fine palladium of minimum 99.95% purity, and its delivery date is set as the last day of each even month except December (the 24th for December). If the day is a holiday or a half-holiday, Delivery Day is advanced.
As of July 2008, each TOCOM Palladium futures contract is subject to a margin rate of 120,000 yen for the spot month and 60,000 yen for the other months.
In 2007, TOCOM Palladium futures traded 207,867 contracts (-42.5 percent YOY), and, in June 2008, traded 41,103 contracts (+79.3 percent YOY).
|TOCOM Palladium futures|
|Exchange||Tokyo Commodity Exchange|
|Contract Size||500 g|
|Pricing Unit||500 yen|
|Tick Value||500 yen|
|Contract Months||All even months within a year|
|Last Trading Day||The third business day prior to the Delivery Day|
|Note: This contract is electronic ONLY -- no open outcry|
|No Open Outcry||Electronic|
|Trading Hours||N/A||9:00 a.m. to 11:00 a.m. , 12:30 p.m. to 5:30 p.m.|
|Price Limits||N/A||Daily Price Fluctuation Limits are determined based on the largest market price movement within a certain period of time and are set at a level where the probability that they will be reached is very low.|