On Mar. 3, TOCOM revised rules re annual electricity futures trading.
TOCOM revised Business regulations, Brokerage agreement standards, Detailed rules re trading participant fees, based on the addition of annual electricity futures trading.
Plus, Detailed rules re energy market management, Detailed rules re system trading, Detailed rules re energy final settlement price determination, Detailed rules re give-up.
Outline of Revisions
Add annual trading to the scope of cash-settled electricity futures trading in the energy market; where settlement by resale/repurchase is not completed by final trading day before target fiscal year for annual/daytime load power trading, cascading is applied.
In principle, set the trading deadline within 2 years starting from the fiscal year following the one in which a new contract is initiated with a 2-contract-month system.
Specify trading unit, tick size; set position limits for annual electricity futures trading.
The final settlement price will be the final settlement price for monthly trading based on the open positions after cascading; specify immediately contractable price range.
The fixed-rate participation fee re annual electricity futures trading contracts shall be JPY 1,752 for annual baseload electricity, JPY 588 for annual daytime load electricity.
The base price for setting the circuit breaker range will be the settlement price for the previous calculation period; the circuit breaker range will be JPY 8.00.
Effectiveness
The revised regulations, standards, rules will be implemented from May 26, 2025.
In Apr. 2025, JPN SCC revised rules regarding annual electricity trading, see #251690.
