Market Data

Market Data

Market Price : Silver(10kg)

Λ : Limit Up / V : Limit Down

The Extension of the Price Limit

[Normal Price Limit]

The limit shall be equal to 15% of the Settlement Price in the immediately preceding Clearing Period.

[First Expansion]

If, while the Normal Price Limit is in effect, the Settlement Price reaches the upper or lower Price Limit, the amount shall be equal to 30% of the Settlement Price in the immediately preceding Clearing Period.

[Second Expansion]

If, while the First Expansion is in effect, the Settlement Price reaches the upper or lower Price Limit, the amount shall be equal to 45% of the Settlement Price in the immediately preceding Clearing Period. Thereafter, the same shall apply until the Settlement Price exceeds the lower Price Limit and falls below the upper Price Limit (hereinafter referred to as being “within the Price Limit Range”).

[Reduction]

  • If, while the Second Expansion is in effect, the Settlement Price falls within the Price Limit Range, the amount shall be equal to 30% of the Settlement Price in the immediately preceding Clearing Period (i.e., the First Expansion).
  • If, while the First Expansion is in effect, the Settlement Price falls within the Price Limit Range, the amount shall be equal to 15% of the Settlement Price in the immediately preceding Clearing Period (i.e., the Normal Price Limit).

[Treatment for the Month Containing the Final Day of Transactions of the Current Contract Month]

Notwithstanding the foregoing, the Price Limit applicable to the Current Contract Month during the month containing the Final Day of Transactions of the Current Contract Month (including the Night Session pertaining to the Clearing Period to which the first business day of such month belongs) shall be the amount equal to 45% of the Settlement Price in the immediately preceding Clearing Period.

  • For further information, refer to the Enforcement rules on Market Management.

Estimated calculation of trading margin

Margin Calculation Method (VaR Method) for Futures and Options, and Web Simulation Environment（Japan Securities Clearing Corporation）