Contract Specifications (Platinum Standard and Platinum Mini)

Platinum Standard Contract:

Date of Listing

January 26, 1984

Type of Trade

Physically Delivered Futures Transactions

Standard

Platinum of minimum 99.95% fineness

Trading Method

Computerized continuous trading

Contract Months

All even months within a year (on the day when a new contract month is generated, there will be 6 even months starting from the next even month after the month which the said day belongs to)

Last Trading Day

The third business day preceding the Delivery Day

First Trading Day of New Contract Month

The business day following the Last Trading Day of the current contract month.

Delivery Day

The last day of each even month except December (the 24th for December). If the day is a holiday or a half-day holiday, Delivery Day is advanced.

Deliverable Goods

Bullions matching the standard, hallmarked with a trade name, among other marks, designated by the Exchange. The Acceptable Weight Range of Deliverable Goods shall be +/-2% per contract.

Delivery Points

Specified warehouses (warehouses located in Tokyo)

Method of Delivery

The Party Making Delivery submits to the Exchange a warehouse receipt, issued by a TOCOM-designated warehouse, for the delivery goods. The Party Taking Delivery submits to the Exchange the Delivery Value based on the delivery price.

Trading Hours

Morning Session: 9:00 a.m. to 11:00 a.m.; Afternoon Session: 12:30 p.m. to 5:30 p.m.
The opening of the trading session will start with the nearest contract month, followed by the other contract months in two-minute intervals.

Contract Unit

500 g  / contract (approximately 16.08 troy ounces)

Delivery Unit

500 g / contract

Minimum Price Fluctuation

JPY 1 per gram

Daily Price Fluctuation Limit

Daily Price Fluctuation Limits are determined by the Exchange, partly based on market volatility.

*See Margin and Price Limit for the currently applied limits.

Maintenance Amount for Initial Clearing Margin (per contract)

Maintenance Amount for Initial Clearing Margin is determined every month in accordance with the price movement of the market, using the result of the following formula as a minimum account:
"an amount determined based on price movement within a recent certain period of time” x “Contract Unit Multiplier” x 1.5

* See Margin and Price Limit for the margins currently applied.

Extraordinary Clearing Margin

When the final contract prices for three or more contract months (excluding contract months with no applicable price limit) have reached the price limit in the same direction for two consecutive business days, deposit of an Extraordinary Clearing Margin will be requested for new positions in all contract months from the following business day, until the final contract price for all contract months (excluding contract months with no applicable price limit) stop reaching the price limits for three consecutive business days.

The deposit amount is determined by multiplying 50% of the price limit by the Contract Unit Multiplier.

Apart from the conditions specified above, if the Exchange deems it necessary for market management purposes, Extraordinary Clearing Margins may be separately imposed.

Customer Position Limit (for each long/short position)

1st contract month in an even month:	100 contracts
1st contract month in an odd month:	150 contracts
2nd contract month:	200 contracts
All contract months combined:	3,500 contracts

* The Loss Cut system currently applies to all the listed commodity futures contracts except Gold Options.

 

Platinum Mini Contract:

Date of Launch

November 10, 2008

Type of Trade

Cash-settled Futures Transactions

Standard

Same as Standard contract (limited to Cash-settled Futures Transactions)

Trading Method

Same as Standard contract

Contract Months

Same as Standard contract

Last Trading Day

Same as Standard contract

Final Settlement Price

Last Settlement Price of the Standard contract on the Last Trading Day of the current contract month

First Trading Day of New Contract Month

The second business day following the Last Trading Day of the current contract month.

Delivery Day

N/A

Deliverable Goods

N/A

Delivery Points

N/A

Method of Delivery

N/A

Trading Hours

Same as Standard contract

Contract Unit

100 g / contract (one-fifth of Standard contract; approximately 3.215 troy ounces)

Minimum Price Fluctuation

Same as Standard contract

Daily Price Fluctuation Limit

Same as Standard contract

*See Margin and Price Limit for the currently applied limits.

Maintenance Amount for Initial Clearing Margin (per contract)

Maintenance Amount for Initial Clearing Margin is determined every month in accordance with the price movement of the market, using the result of the following formula as a minimum account:
"an amount determined based on price movement within a recent certain period of time” x “Contract Unit Multiplier” x 2

* See Margin and Price Limit for the margins currently applied.

Extraordinary Clearing Margin

If Extraordinary Clearing Margins are imposed for the Standard contract Extraordinary Clearing Margins will also be required for the Mini contract.
The deposit amount is determined by multiplying 50% of the Price Limit by the Contract Unit Multiplier.

Apart from the conditions specified above, if the Exchange deems it necessary for market management purposes, Extraordinary Clearing Margins may be separately imposed.

Customer Position Limit (for each long/short position)

1st contract month in an even month:	200 contracts
1st contract month in an odd month:	300 contracts
2nd contract month:	400 contracts
All contract months combined:	7,000 contracts

Loss Cut System (*)

For market participants with a lower tolerance for risk, customers now have the option to use the Loss Cut system.
The purpose of the Loss Cut system is to try to prevent losses over a limit specified by each customer. Under the Loss Cut system, if a customer’s loss reached a certain limit specified by the customer, at a certain time, his positions will be offset by executing orders, based on the terms and conditions agreed upon by the customer and its Broker Member and in accordance with the said terms and conditions.

* The Loss Cut system currently applies to all the listed commodity futures contracts except Gold Options.