The Japan Crude Cocktail (JCC) reference serves as price indexation of Liquified Natural Gas (LNG) contracts in Asia-Pacific.
NYMEX JCC futures are cash-settled contracts based on the average price of nine custom-cleared crude oils reported by the Japan Ministry of Finance and Customs. The floating price definition of NYMEX JCC futures contracts replicate their use in physical contracts and in the OTC-bilateral JCC swap market.
The contracts enhance price discovery and market transparency while providing an efficient hedging instrument for producers, utilities, and LNG traders.
| Contract Title | Japan Crude Cocktail (Detailed) Futures | Japan Crude Cocktail (Detailed) JPY Futures |
| Product Code | JCC | JCY |
| Price Quotation | U.S. dollars and cents per barrel | Japanese Yen per kilolitre |
| Contract Size | 1,000 barrels | 100 kilolitre |
| Listing Schedule | Monthly contracts listed for the current year and the next four calendar years. | Monthly contracts listed for the current year and the next four calendar years. |
| Minimum Price Fluctuation | 0.01 USD per barrel | 1 ¥ Japanese Yen per kilolitre |
| Block Trade Minimum Threshold | Five contracts | 10 contracts |
| Floating Price | Based on the Trade Statistics of the imported commodities with the following custom Statistical Codes: 2709.00 100, 2709.00 900, 2710.19 162, 2710.19 164, 2710.19 166, 2710.19 169, 2710.19 172, 2710.19 174, 2710.19.179. as published by Ministry of Finance, Japan. For contract months January to November Trade Statistics to be used are “Detailed” version. For December “Provisional” version shall be used. Full Definition in NYMEX 1303 Rulebook |
Based on the Trade Statistics of the imported commodities with the following custom Statistical Codes: 2709.00 100, 2709.00 900, 2710.19 162, 2710.19 164, 2710.19 166, 2710.19 169, 2710.19 172, 2710.19 174, 2710.19.179. as published by Ministry of Finance, Japan. For contract months January to November Trade Statistics to be used are “Detailed” version. For December “Provisional” version shall be used. Full Definition in NYMEX 1304 Rulebook |
| Termination of Trading | Jan - Nov contracts: at 9:30 a.m. Japan Time on the second last Japan business day of the second month after the contract month. Dec contracts: at 9:30 a.m. Japan Time on the second last Japan business day of the month after the contract month. |
Jan - Nov contracts: at 9:30 a.m. Japan Time on the second last Japan business day of the second month after the contract month. Dec contracts: at 9:30 a.m. Japan Time on the second last Japan business day of the month after the contract month. |
| Settlement Method | Financial Settlement |
Financial Settlement |
| Clearing | Globex | Floor | ClearPort | Product Name | Exchange | Product Group | Subgroup | Category | Subcategory | Cleared As | Volume | Open Interest |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| JCC | JCC | - | JCC | Japan Crude Cocktail (Detailed) Futures | NYMEX | Energy | Natural Gas | Asian | Outrights | Futures | 0 | 1,609 |
| JCY | JCY | - | JCY | Japan Crude Cocktail (Detailed) JPY Futures | NYMEX | Energy | Natural Gas | - | - | Futures | 0 | 0 |
| Broker | Contact | |
|---|---|---|
| BGC Radix | Benoit Saffray | bsaffray@bgc-radix.com |
| Enechain | Yuri Arikawa | arikawa.yuri@enechain.co.jp |
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