CFTC Granted Part 30 Exemption effective on February 9, 2006

2006.02.15

The Tokyo Commodity Exchange (TOCOM) is granted an exemption regarding application of CFTC regulations Part 30 to its member firms by the Commodity Futures Trading Commission (71 FR 6759, February 9, 2006).

TOCOM is pleased with the fact that CFTC, by granting this exemption, has acknowledged that the standards for relief have been met and that compliance with applicable Japanese law and TOCOM regulations may be substituted for compliance with those sections of Commodity Exchange Act and regulations.

With the opportunities being granted by the relief, TOCOM is poised to make further efforts to provide sound and transparent market place for all our participants.

 

About the Tokyo Commodity Exchange (TOCOM)

Established in 1984, TOCOM is the largest commodity futures exchange in Japan, and also the world's third largest in the area of commodity futures. TOCOM lists 10 commodities: crude oil, gasoline, kerosene, gas oil, gold, silver, platinum, palladium, aluminum and rubber futures contracts. TOCOM plays an important role in the formation of transparent and fair prices and the implementation of hedge against price fluctuation risks as an industrial infrastructure, and also, provides domestic and overseas investors with an asset management tool. The revised Commodity Exchange Law, whose aim is to strengthen the customer asset protection system and to improve market integrity and convenience came into effect on May 1st, 2005. Against this background, the number of trading by overseas financial institutions and institutional investors has been increasing in the TOCOM market. In 2005, total trading volume was 62 million lots and nominal trading volume was 164 trillion yen (approx. 1.4 trillion USD).  For details, please visit our website at www.tocom.or.jp.

For further information contact:

International Affairs Section

Tel: +813 3661 9215

 

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