What Is the Tokyo Commodity Exchange?

The Tokyo Commodity Exchange (TOCOM), also known as the Tokyo Commodity Exchange, was established in Tokyo on November 1, 1984. Its predecessors were the Tokyo Textile Exchange established in 1951, the Tokyo Rubber Exchange established in 1952, and the Tokyo Gold Exchange established in 1982. The three exchanges were merged into their current names on November 1, 1984. . It is the world's largest platinum and rubber exchange and Japan's only comprehensive commodity exchange. The firm is the only comprehensive commodity exchange in Japan that deals in futures trading and is responsible for managing futures and options trading for all commodities in Japan. The range of futures contracts operated by the firm is very wide and it is one of the few futures exchanges in the world that trades a variety of precious metals. The exchange uses the collective clapper pricing system for cotton, wool and rubber products, while precious metals are traded using a computer system. This is why precious metals trading is centered. At the same time, in recent years, energy products such as petroleum, gasoline and gas have been vigorously developed. After 1985, the second year after its establishment, it became the largest commodity exchange in Japan. More than 45% of the total trading volume of commodity exchanges. The Tokyo Industrial Exchange is a non-profit membership organization, or financial institution, established in accordance with the Japan Commodity Exchange Act of 1950.

Tokyo Industrial Exchange

The Tokyo Commodity Exchange (TOCOM), also known as the Tokyo Commodity Exchange, was established in Tokyo on November 1, 1984. Its predecessors were the Tokyo Textile Exchange established in 1951, the Tokyo Rubber Exchange established in 1952, and the Tokyo Gold Exchange established in 1982. The three exchanges were merged into their current names on November 1, 1984. . It is the world's largest platinum and rubber exchange and Japan's only comprehensive commodity exchange. This is the only general complex in Japan

The general meeting is responsible for electing the chairman and directors to form the board of directors of the exchange.

The reason why the Tokyo Industrial Products Exchange has been so successful in such a short period of time is mainly due to its unremitting efforts in providing its market participants with the trading varieties required by the market. At the beginning of the opening, the exchange opened only six commodity trading businesses: gold, silver, platinum, rubber, cotton and wool. On August 3, 1992, April 7, 1997, July 5, 1999 and September 10, 2001, the exchange successively opened the futures trading business of palladium, aluminum, gasoline, kerosene and crude oil. At the same time, cotton and wool have gradually lost their previous importance relative to energy commodities that Japan is more dependent on, and both exited the trading arena of the exchange in April 1999 and September 2000.

Exchanges can cater to the market

The success of the Tokyo Industrial Exchange lies not only in its appropriateness to meet the needs of the market, but also in its management's spirit of daring to open up and innovate. Recognizing that only by using high technology and developing a more advanced trading system can the trading market become more stable, efficient and fair during the transformation. The exchange introduced an electronic screen trading system on April 1, 1991 for precious metal trading. Market, the system fully realized electronic operation and remote control. At the time, it was the most advanced set of trading systems in the world.

Due to the continuous expansion of its influence, the original

Tokyo Industrial Exchange before 1999

Tokyo Industrial Exchange uses two different trading systems: Itayose Trading System and System Trading System.

Itayose system is also known as

The aftermath of the Japanese earthquake quickly spread to the futures market. As a number of recent contracts for Japanese rubber futures plummeted after the opening and hit the daily limit, Japanese rubber futures trading even temporarily closed. ^[2]

The Tokyo Industrial Products Exchange announced in the morning yesterday that due to the disturbance of the earthquake, the exchange decided to start a fusing mechanism in rubber trading, stipulating that the price change of rubber varieties should not exceed 30 yen on the previous trading day. Yesterday afternoon, the Tokyo Industrial Products Exchange issued another announcement saying that it would expand the limit of rubber futures trading. As of yesterday, at 19:30, the main contract of Japanese rubber futures plunged 58.4 yen to 343 yen.

Analyst Ren Wei said that because many Japanese car manufacturers are located on the east coast of Japan, the earthquake caused serious losses to Toyota, Honda and Nissan. No matter from the perspective of Japan and the global economy, or from the downstream demand of rubber, the Japanese earthquake has a negative impact on the trend of rubber. Although the actual impact of the earthquake on the Japanese economy and natural rubber demand is still difficult to determine, psychological factors are sufficient to guide speculative funds to short rubber.