The Tokyo Commodity Exchange, Inc. (TOCOM) has implemented a new trading and clearing system, culminating in the launch of a new platform accessible via the J-GATE and the JPX Clearing System, which helps address network connectivity and data speed, according to a TOCOM statement.
The Japan Exchange Group (JPX) collectively operates both J-GATE and the JPX Clearing System, both of which deal with wide swaths of derivatives trading in Japan. The launch of the new system however will help provide TOCOM with a number of advantageous yields across its commodities and financial markets. This includes boosts to market data dissemination speeds, network connectivity gains with JPX, and other benefits.
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Moreover, per the new upgrade, TOCOM also is eying additional financial derivatives traders who participate on the Osaka Exchange, a derivatives arm of JPX. As such, TOCOM will look to roll out a number of marketing and promotional activities that actively support both markets.
The new upgrade is important for TOCOM and JPX market participants as the newly launched platform streamlines trading and research capabilities for both entities. TOCOM’s changes have also resulted in the re-introduction of Gold Options – these options will now operate in a more European mold, also being cash-settled with a six-month-contract system in place.
Last week, TOCOM also made headlines after it enlisted Colt Technology Services to become a market data provider for its exchange. The service will be released alongside the scheduled migration of TOCOM’s derivatives trading to the J-GATE trading system.