FY2010 Business Plan

2010.4.14

(This is the English translation of the press release issued on March 16, 2010)

Tokyo Commodity Exchange, Inc. has formulated its FY2010 Business Plan based on the newly formulated Midterm Management Plan (April 2010–March 2013), and provides an overview as follows.

I. Management Policy

Despite the extremely challenging environment last year, we have managed to bring to a halt the downward trend in our trading volume, which had continued since fiscal 2004, by steadily implementing the initiatives set forth in our Business Plan, and an upward trend started to emerge.

In fiscal 2010, our objective is to consolidate the upward trend in our trading volume and to return to profitability in the next fiscal year by boosting market liquidity through initiatives such as increasing our marketing activities and improving our trading infrastructure..

II. Business Strategy

1. Trading Infrastructure

(1) Extend trading hours

(2) Adopt trading rules in line with global standards

(3) Improve trading environment to encourage entry by new liquidity providers


(4) Enhance trading platform


(5 ) Enhance the reliability of clearing services

2. Marketing

(1) Strengthen sales and marketing activities


(2) Undertake public relations and educational activities


(3) Provide information and take into account the needs of Members

3. Listed Commodities

(1) Re-open gas oil futures trading

(2) Re-design markets in accordance with the needs of Members

(3) Study emissions trading

(4) Link with the OTC market


(5) Survey and study the market rules

4. Self-Regulation

(1) Audit Members

(2) Examine the details of transactions made by Members  

5. Other Measures

(1) Revise the Exchange’s rules and regulations and provide the English versions

(2) Boost expertise of the human resources of the industry

6. Quantitative Targets 

(1) Trading volume targets
In expectation of good results from initiatives such as the listing of the Nikkei-TOCOM Commodity Index, the re-opening of gas oil futures trading, and the extension of trading hours, our goal is to achieve an average daily trading volume of 170,000 contracts in the second half of fiscal 2010 (150,000 contracts on a full-year basis).

(2) Profit target
Our goal is to reduce the operating loss to roughly 500 million yen and to sustain that momentum for a return to profitability in fiscal 2011.   

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