TOCOM is the center for the Japanese Metals and Energy markets, as well as the Nikkei-TOCOM Commodity Index. Futures and Options contracts are available for Gold, Silver, Platinum, Gasoline, Kerosene, Gas Oil, Crude Oil, Chukyu Gasoline, Chukyu Kerosene, and Rubber. Trading in these markets is available 17.5 hours a day. Started in 1984, the Tokyo Commodity Exchange's roots go back to 1951.
The Tokyo Textile Exchange was founded in 1951. A year later the Tokyo Rubber Exchange was founded. These exchanges remained separate, and later there would be yet another commodity exchange. In 1982 the Tokyo Gold Exchange came into existence. In typical 1980's fashion, the world of financial markets were growing at an accelerated pace. During this time, in 1984, the TOCOM was born. The Tokyo Textile Exchange merged with the Tokyo Rubber Exchange and the Tokyo Gold Exchange. The result was The Tokyo Commodity Exchange (TOCOM).
Keeping even further pace with the times, continuous electronic trading began at the TOCOM in 1991. By 2001, Crude Oil, Gasoline, and Kerosene were added to the list of products traded. And in 2003 the 2nd generation electronic trading platform was introduced. By 2008 the Tokyo Commodity Exchange joined many of the worlds other leading exchanges by going public.
Demutualized, the TOCOM did not slow down. The third generation of electronic trading platforms was introduced a few months later in 2009. The trading hours were also extended to 11 p.m. allowing for night trading. More contracts have been added since becoming a for-profit stock company, and hours have even been extended until 4 a.m. And keeping with tradition, the TOCOM continues to forge ahead expanding its commodity roots. (The listing for the Nekkei-TOCOM Commodity Index was discontinued in October,2012)
Fostering highly reliable and convenient markets, serving the public utility by offering hedging tools against price fluctuations of energies and metals, and to provide benchmark prices. The exchange also aims to provide a forum for investment management, and to facilitate the further development of the economy of Japan and the world.
The Tokyo Commodity Exchange aspires to firmly position itself as the primary commodity exchange in Asia, and as a preeminent exchange in the world too.
The people of TOCOM work towards fostering a truly vibrant market through proactively understanding the needs of the shareholders and increasing operational efficiency based on appropriate corporate governance. The Tokyo Commodity Exchange shall always strive to introduce innovative ideas in order to prevail in the competition among markets, and to increase the corporate value.
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