The Tokyo Commodity Exchange, Inc. (TOCOM) today announced the launch of Gold Physical Transaction, a new physical market for gold. The exchange has at the same time reported that the number of executed transactions for the first trading day was 14.
TOCOM is the only regulated exchange which operates a gold market in Japan and is the most actively traded commodity at the exchange. With the launch of Gold Physical, TOCOM provides a single platform where market participants can trade gold in futures and physical at transparently formed prices.
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With a stock capitalisation of ¥1.989 billion, TOCOM’s principal business is in the operation of commodity markets for dealing in futures of commodities including precious metals, rubber, aluminium, oil and agricultural products.
In addition to futures and options, TOCOM plans to expand into OTC and physical commodity markets to create a reliable, comprehensive commodity market which will better cater to the diverse needs of market participants.
Finance Magnates last reported on the exchange’s expanding activities in June this year after it announced the signing of a Memorandum of Understanding (MOU) with Huatai Futures to establish a cooperative relationship between the two entities. Both parties agreed to develop mutually beneficial business opportunities and pursue projects that could increase market liquidity, reliability and operating efficiency.