What Is Tocom?

The Tokyo Commodity Exchange that is generally abbreviated as TOCOM

, and is basically a non-profit organization and generates trading of future contracts and optional products that are metals of all commodities in Japan.

This body was originally established in 1984. It was not a newly established company but it was an amalgamation of three companies: The Tokyo Textile Exchange, The Tokyo Rubber Exchange and The Tokyo Gold Exchange. It is Japan's leading commodity souk with an operating volume of 30 million contracts and contributes to 80% of Japan's market, making it as one of the most top-listed exchange Asian markets.

Tokyo Commodity Exchange, Inc. has become the largest commodity futures exchange in Japan with a trading volume of 29 million contracts, representing an 81% market share, in 2009, and one of the most prominent exchanges in Asia. Futures and Options contracts on a variety of industrial products are traded through this body.

Tokyo Commodity Exchange, Inc. This body strives to become a prominent plagiaristic exchange in Asia. This body introduced its new system, which meets international standards on functionality, and has the highest level of performance in the world. This body introduced the new system, resulting from the combination of the internationally recognised NASDAQ OMX technology and the exceptional skills of NTT Data in operating systems. This body aims to offer a wider range of services to all market participants in a faster and more efficient way, in order for the Japanese Exchange to grow and better position itself among global derivatives markets.

TOCOM's popularity is so wide-spread that as soon as it closes, its market prices start to fluctuate. This is the reason why this body has even extended its working hours till 11 p.m. The pressure was so much, that they even decided to work in the break time but somehow they did not initiate that plan. These late working hours have gained traders a huge amount of benefit and trust in this company. This is because the organization was already in too much competition with trade markets of Singapore, New York and London.

Trading of precious metals, aluminium, and oil are held in two sessions, first from 9 a.m. to 11 a.m. and then from 12:30 p.m.- 5:30p.m. All orders for these products, are first entered, modified, or removed, and then matched at a single price at which, they can be executed. After that, orders are constantly executed based on price, and time priority.

Therefore, taking into account all the issues that were faced by TOCOM, it can be regarded as confronting multiple unique issues. One of the most significant includes the exchange's inability to provide with easy access for market participants and investors. Moreover, the system that was introduced in 2003 was outdated and therefore, competition grew all the more severe to battle with.

Mizuho Asset Management Co. Ltd manages and sets up ETF investment in the gold futures contract, and records the gold futures settlement price. The other Exchange Traded Funds or ETF investing in the platinum futures contract is set up and managed by Nomura Asset Management Co. Ltd., which records the workings of the Nikkei Platinum Index.

by: Jack Wagon.

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