Gold Futures Final Trading Ends on Tokyo Commodity Exchange
Tokyo, July 22 (Jiji Press)--Gold and many other commodity futures ended their final trading on the Tokyo Commodity Exchange, or TOCOM, on Wednesday before their transfer to the Osaka Exchange.
Futures trading in commodities including gold, other precious metals, rubber and farm goods on TOCOM, a unit of Japan Exchange Group Inc. <8697>, or JPX, will be transferred to the Osaka Exchange, known as the OSE, another JPX arm, on Monday.
The move to make the OSE a comprehensive exchange handling stock, bond and commodity futures is expected to help revitalize Japan’s commodity market, which has been suffering a long slump.
TOCOM will continue futures trading in crude oil and electricity while aiming to list liquefied natural gas futures. It hopes to forge its path forward by becoming a comprehensive energy market handling a wide range of energy-related products.
But the transfer will divide Japan’s commodity futures market into two, supervised by different government agencies under different laws depending on the commodities.
[Copyright The Jiji Press, Ltd.]