Tokyo Commodity Exchange (TOCOM) Goes Live on Nasdaq Trading Technology
The new system is now integrated with Japan Exchange Group’s derivative trading (J-GATE)
NEW YORK and TOKYO, Sept. 22, 2016 (GLOBE NEWSWIRE) — Nasdaq, Inc. (Nasdaq:NDAQ) and the Tokyo Commodity Exchange (TOCOM) today announced the successful go-live of TOCOM’s new trading system, which is powered by Nasdaq’s Genium INET technology, as well as Nasdaq Pre-Trade Risk and SMARTS Market Surveillance solutions. The new system is now fully integrated with the Osaka Exchange’s derivatives trading system (J-GATE), which also runs on the same Nasdaq trading technology. This approach of a mutually-shared trading system between two separate exchanges is one of first of its kind in the world. Nasdaq and TOCOM have been technology partners since 2009.
“We would like to express our gratitude and appreciation to our partner Nasdaq who has contributed to the successful integration of
With this new trading engine, TOCOM will provide ultra-fast trading and market information dissemination to its trading members, while also being a one-stop trading environment for domestic and foreign exchanges via a new connectivity service. Further, the trading technology now enables TOCOM to extend across boundaries between commodities and financial products, creating significant efficiency for TOCOM investors, and also those trading derivative products on the Osaka Exchange (i.e. J-GATE), who now have access to the TOCOM marketplace.
“We are proud of this successful go-live of TOCOM’s new trading system, which brings new efficiencies and access to Japan’s markets, while also lowering costs across the board for the exchange’s investor and trading community,” said Ulf Carlsson, Vice President and Head of North Asia and Japan, Nasdaq. “With this launch, TOCOM and JPX have achieved an incredibly important milestone, where two independent exchange operators are sharing the same trading platform, providing a common access point into Japan’s markets for traders across Japan, APAC and around the world.”
Nasdaq’s exchange technology, including trading, clearing, CSD and market surveillance systems, is in operation in over 100 marketplaces across the Americas, Europe, Asia, Australia, Africa, the Middle East and the Caribbean.
The Tokyo Commodity Exchange, Inc. (TOCOM) is Japan’s largest commodity futures exchange and one of the most prominent in Asia. Products include futures and options on precious metals (gold, silver, platinum and palladium); energy (Dubai crude oil, gasoline, kerosene and gas oil); and natural rubber and agricultural products (soybeans, corn and azuki). TOCOM’s gold market is the most liquid in East Asia and the platinum market is most liquid in the world. TOCOM Rubber is the established global benchmark.
All of TOCOM’s products trade electronically, and with over 24 million contracts trading hands in 2015, TOCOM trades 98.5% of Japan’s commodity futures. Recent market upgrades are meeting the needs of the global trading community and now half of trading originates outside of Japan.
TOCOM originates with the Tokyo Textile Exchange, which was founded in 1951. TOCOM itself was established in 1984 with the merger of the Tokyo Rubber Exchange and the Tokyo Gold Exchange. In 2013, TOCOM launched the Agricultural Products & Sugar market having taken over soft commodity contracts from the Tokyo Grain Exchange.
Nasdaq (Nasdaq:NDAQ) is a leading provider of trading, clearing, exchange technology, listing, information and public company services across six continents. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today’s global capital markets. As the creator of the world’s first electronic stock market, its technology powers more than 70 marketplaces in 50 countries, and 1 in 10 of the world’s securities transactions. Nasdaq is home to more than 3,700 listed companies with a market value of approximately $9.3 trillion and more than 17,000 corporate clients. To learn more, visit: nasdaq.com/ambition or
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