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| Our Corporation has two types of Commodities CFD trading accounts for clients to choose from according to their investment targets, namely Internet Trading and Telephone Trading(Premier Accounts). Please feel free to contact our Corporation's Customer Support Department if you require any further information regarding these. |
| [ Regarding Trading Time ] |
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Internet Trading & Telephone Trading A/c |
| Trading Time |
| Trading Commodities |
Trading Time |
| XAU/USD |
Spot Gold |
Monday 08:00 ～Saturday 06:00
（Rest Time 07:00-07:02） |
| XAG/USD |
Spot Silver |
Monday 08:00 ～Saturday 06:00
（Rest Time 07:00-07:02） |
| CL |
Crude Oil |
Monday 09:00 ～ Saturday 04:30
（Rest Time 22:55-23:05 & 04:30-08：00） |
| W |
Wheat |
Monday 09:02 ～ Saturday 04:14
（Rest Time 21:00-00:30 & 04:14-09:02） |
| S |
Soybean |
Monday 09:02 ～ Saturday 04:14
（Rest Time 21:00-00:30 & 04:14-09:02） |
| C |
Corn |
Monday 09:02 ～ Saturday 04:14
（Rest Time 21:00-00:30 & 04:14-09:02） |
| HG |
Copper |
Monday10:00 ～ Saturday 03:00
（Rest Time 22:10-22:20 & 07:00-08:00） |
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| Summer Time |
| Trading Commodities |
Trading Time |
| XAU/USD |
Spot Gold |
Monday 08:00 ～Saturday 05:00
（Rest Time 06:00-06:02） |
| XAG/USD |
Spot Silver |
Monday 08:00 ～Saturday 05:00
（Rest Time 06:00-06:02） |
| CL |
Crude Oil |
Monday 08:00 ～ Saturday 03:30
（Rest Time 21:55-22:05 & 03:30-07：00） |
| W |
Wheat |
Monday 08:02 ～ Saturday 03:14
（Rest Time 20:00-23:30 & 03:14-08:02） |
| S |
Soybean |
Monday 08:02 ～ Saturday 03:14
（Rest Time 20:00-23:30 & 03:14-08:02） |
| C |
Corn |
Monday 08:02 ～ Saturday 03:14
（Rest Time 20:00-23:30 & 03:14-08:02） |
| HG |
Copper |
Monday10:00 ～ Saturday 02:00
（Rest Time 21:10-21:20 & 06:00-07:00） |
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| Trading Hours |
Trading Time, excluding system maintenance time |
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| * Business Time and Summer Time may vary subject to the prevailing business time of different markets. |
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| [ Regarding Trading (Internet Trading)] |
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Internet Trading A/c |
| Trading Commodities |
Spot Gold, Spot Silver, Crude Oil(Futures), Soybean (Futures), Wheat (Futures), Copper (Futures), Corn (Futures) |
| Contract Month |
| Trading Commodities |
Type （Contract Month） |
| XAU/USD |
Spot Gold |
Spot CFD Trading |
| XAG/USD |
Spot Silver |
Spot CFD Trading |
| CL |
Crude Oil |
Contract month CFD（Every month） |
| W |
Wheat |
Contract month CFD（Months 3,5,7,9,12） |
| S |
Soybean |
Contract month CFD（Months 1,3,5,7,8,9,11） |
| C |
Corn |
Contract month CFD（Months 3,5,7,9,12） |
| HG |
Copper |
Contract month CFD（Months 3,5,7,9,12） |
|
| Price Difference |
| Trading Commodities |
Price Difference |
| XAU/USD |
Spot Gold |
4ticks |
| XAG/USD |
Spot Silver |
4ticks |
| CL |
Crude Oil |
5ticks |
| W |
Wheat |
6ticks |
| S |
Soybean |
6ticks |
| C |
Corn |
6ticks |
| HG |
Copper |
10ticks |
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| Minimum Trading Unit |
| Trading Commodities |
Minimum Trading Unit（1 lot） |
| XAU/USD |
Spot Gold |
10 troy ounce(toz) |
| XAG/USD |
Spot Silver |
500 troy ounce(toz) |
| CL |
Crude Oil |
100 barrels (bbl) |
| W |
Wheat |
500 bushels (bu) |
| S |
Soybean |
500 bushels (bu) |
| C |
Corn |
500 bushels (bu) |
| HG |
Copper |
2,500 pounds (lb) |
|
| Outcry Price |
| Trading Commodities |
Outcry Price (tick) |
| XAU/USD |
Spot Gold |
1 troy ounce (toz) 0.1 US（＄） |
| XAG/USD |
Spot Silver |
1 troy ounce (toz) 0.01 US（＄） |
| CL |
Crude Oil |
1 barrel (bbl) 0.0 US（＄） |
| W |
Wheat |
1 bushel (bu) 0.25 US（￠） |
| S |
Soybean |
1 bushel (bu) 0.25 US（￠） |
| C |
Corn |
1 bushel (bu) 0.25 US（￠） |
| HG |
Copper |
1 pound (lb) 0.05 US（￠） |
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| Margin Required(1) |
The amount of margin required is subject to changes following changes in actual price and leverage ratio（2011/6/21） |
| Margin Required(2) |
| Trading Commodities |
Margin Required |
| XAU/USD |
Spot Gold |
40,000 yen |
| XAG/USD |
Spot Silver |
50,000 yen |
| CL |
Crude Oil |
80,000 yen |
| W |
Wheat |
25,000 yen |
| S |
Soybean |
35,000 yen |
| C |
Corn |
20,000 yen |
| HG |
Copper |
100,000 yen |
|
| Commission |
0 yen
※When clients choose to utilize telephone trading, an additional 1K yen will be charged on each lot trading. |
| Interest |
If a Spot CFD order remains unsettled on the trading day, payment or receipt of interest will come into effect. In general,‘Buy Spot CFD’has to pay interest and ‘Sell Spot CFD’ can receive interest. However, as the amount of interest changes with market interest, please note the possibility of requiring Buy and Sell positions to pay interest at the same time may sometimes occur.
Interest on Wednesday is 3 times the normal interest paid or received on other weekdays to make good holidays on Saturday and Sunday. In case of Wednesday being a holiday, announcement in respect of this will be announced accordingly.
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| Settlement Methods |
‘Spot CFD Trading’ makes use of opposite Buy/Sell transactions to liquidate (settle) open positions.
[ CFD Futures Trading ] also makes use of opposite Buy/Sell transactions to liquidate (settle) open positions. If the open positions are not settled at contract end, they will be settled automatically at the final settlement prices, calculating gains and losses. |
| Settlement Time Limit |
[Spot CFD Trading] has no final settlement time limit.
[CFD Futures Trading] is following actual Trading Markets’ Futures time limit, therefore has final settlement time limit.
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| Gains/Losses Calculation |
Gains/Losses calculation is based on Foreign Exchange USD/JPY Spot price. |
| Warning Notice |
When the amount of effective margin falls below the necessary margin by 100%, 80% and 65%, our company will advise through e-mail. |
| Forced Settlement |
When effective margin is less than 50% of the necessary margin, open positions will be liquidated on a last come first go basis until effective margin returns to 50% or above of the necessary margin.
* If the prices fluctuate considerably, the possibility of having open positions auto liquidated exists prior to receiving our e-mail reminder.
* The client will be held fully responsible for whatever losses incurred if the client's e-mail address has been changed and he/she fails to inform our Corporation by e-mail or other means, resulting in the inability to receive our e-mail reminder.
* In ascertaining the necessity of sending e-mail reminder, the following criteria will come into operation : 'Buy' open order, 'Sell' ask price as the yardstick ; 'Sell' open order, 'Buy' bid price as the yardstick.
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| Trust Custody |
Our company is depositing clients’ money with SMBC Cash Trust A/c, implementing Segregated Trust A/c. In Japan, the practice of placing clients’ money in Trust A/c is just a handful few, and therefore clients can trade through our company with more peace of mind.
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| Margin In/Out Handling Fees |
Margin-in handling fees to be paid by clients; Margin-out once a month to be paid by our company. |
| Margin-in/out Particulars |
When clients deposit/transfer money into our bank A/c, our company will confirm such deposit/transfer as soon as possible. Due to the time needed for each bank transfer differs, please note that a transfer may have to delay to the next day. Moreover, margin-in/out handling fees will have to be borne by clients.
Clients are earnestly requested to use their own names to execute bank transfer. If an abbreviation or alias is used when making any transfer, it is very likely that confirmation of such a transfer may not be possible.
When our company receive clients’ verbal or written request for margin-out before 1.00pm, we will have the requested amount transferred to the relevant clients’ accounts within four business days. If a request is received after 1.00pm, margin-out time may have to push back one day.
Once a month margin-out handling fees will be borne by our company. However, in the case of overseas transfer, all necessary handling fees will have to be paid by clients.
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| Regarding the Question of CFD Trading Tax |
Profits/losses gained/incurred by way of CFD trading is classified as Miscellaneous Income, and is subject to Integrated Tax Returns. In a calendar year (January 1 to December 31), if profits are generated from CFD trading, the gains after deducting the necessary costs will be liable to tax returns and payment.
If a client’s salary/income is less than 2000M yen in the year in question, a CFD trading profit of 200K yen will not have to file a tax return for that amount. Miscellaneous Income cannot be calculated together with the other income and the losses incurred in CFD trading this year cannot be deducted from next year’s Miscellaneous Income. For more detailed particulars, please refer to the Home Page of State Tax Department website.
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| [ Regarding Trading (Telephone Trading) ] |
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Telephone Trading A/c |
| Price Difference |
| Trading Commodities |
Price Difference |
| XAU/USD |
Spot Gold |
12ticks |
| XAG/USD |
Spot Silver |
6ticks |
| CL |
Crude Oil |
15ticks |
| W |
Wheat |
16ticks |
| S |
Soybean |
16ticks |
| C |
Corn |
16ticks |
| HG |
Copper |
18ticks |
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| Minimum Trading Unit |
| Trading Commodities |
Minimum Trading Unit（1 lot） |
| XAU/USD |
Spot Gold |
50 troy ounce(toz) |
| XAG/USD |
Spot Silver |
2,500 troy ounce(toz) |
| CL |
Crude Oil |
500 barrels (bbl) |
| W |
Wheat |
2,500 bushels (bu) |
| S |
Soybean |
2,500 bushels (bu) |
| C |
Corn |
2,500 bushels (bu) |
| HG |
Copper |
12,500 pounds (lb) |
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| Margin Required(1) |
The amount of margin required is subject to changes following changes in actual price and leverage ratio（2011/6/21） |
| Margin Required(2) |
| Trading Commodities |
Margin Required |
| XAU/USD |
Spot Gold |
200,000 yen |
| XAG/USD |
Spot Silver |
350,000 yen |
| CL |
Crude Oil |
400,000 yen |
| W |
Wheat |
200,000 yen |
| S |
Soybean |
250,000 yen |
| C |
Corn |
200,000 yen |
| HG |
Copper |
500,000 yen |
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| Commission |
One way 6000 yen（sales tax incl.），Round trip 12,000 yen. Trading fees are levied separately on ‘New Orders’ and ‘Settlement. |
| Forced Settlement |
When effective margin is less than 50% of the necessary margin, open positions will be liquidated on a last come first go basis until effective margin returns to 50% or above of the necessary margin. |
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