INTERVIEW: Osaka Exchange Hopes to Double Commodity Futures Trading in 3 Yrs


Tokyo, July 15 (Jiji Press)--The Osaka Exchange aims to double the long stagnant trading volume of commodity futures in three years with its switch to a comprehensive exchange, Hiromi Yamaji, president of the operator of the exchange, said.

Yamaji met Jiji Press in Tokyo before the Osaka, western Japan-based derivatives unit of Japan Exchange Group Inc. <8697>, or JPX, takes over some listed products from the Tokyo Commodity Exchange, or TOCOM, a new JPX arm, on July 27.

To be transferred are precious metals, rubber and farm goods futures.

Forecasting that nearly 10 securities houses including foreign firms will join commodity futures trading on the Osaka Exchange thereafter, Yamaji said those foreign firms "may bring customers who have not already traded in Japan with them."

He also said his exchange is considering listing crude oil-linked futures that will be "distinctive" from energy-related products TOCOM will continue to handle so as to attract more investors, expressing hope that the listing will be timed to coincide with the planned trading system overhaul in autumn next year.

[Copyright The Jiji Press, Ltd.]

Jiji Press