TOCOM, the Tokyo Commodity Exchange, announced on Friday that four Japanese commodity brokers are preparing to introduce Tradency’s RoboX for commodity futures this Autumn.
RoboX is a robo-advisor equipped with artificial intelligence (AI) and automatic trading functions. Using an algorithm, the AI creates bespoke packages of trading strategies and ensures it is constantly updated.
RoboX will provide investors with multiple investment strategies tailored to different levels of risk tolerance. According to the statement from TOCOM, it will allow less experienced investors to participate in the commodities market.
RoboX can also attract existing commodity investors, plus FX and stocks investors trading online. As a result, RoboX is expected to contribute to the improvement of market liquidity and increase transactions on TOCOM.
According to the statement, TOCOM believes that: “This service will lead to the revitalization of the commodity futures market. From the perspective of promotion, we will actively support sales activities etc. of product futures traders..”
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Tradency is cooperating with Japanese system integration company NTT DATA to introduce RoboX to TOCOM.
TOCOM is Japan’s largest, and one of Asia’s most prominent, commodity futures exchanges. The exchange operates electronic markets for precious metals, oil, rubber, and soft commodities.
Tradency provides advisory services to retail traders and financial institutions. Since 2015, the company’s focus has been on technology, and it has developed systems for financial institutions’ infrastructures for the robo-advisory market. The company has integrated its technology with numerous financial infrastructures.
Japan’s focus has shifted to AI in recent years, with a variety of AI technology being incorporated in all types of products and services.
In the financial industry, forex automated trading systems have been introduced by FX brokers and securities companies, and this trend is rapidly expanding.
However, the rise of the importance of AI is not just limited to Japan, with major FX dealers preparing to replace traders with robots. Large investment banks are also seeing the worthiness of AI, such as JP Morgan, who hired a machine learning expert to advance its use of AI in regards to investments last year.