TOCOM to Acquire TGE Shares of JCCH Stock

2010.9.9

[This is an English translation of the announcement made in Japanese on September 3]

 

Tokyo Commodity Exchange, Inc. (“TOCOM”) today announced that the Exchange will acquire the shares of the Japan Commodity Clearing House (“JCCH”) held by Tokyo Grain Exchange Inc. (“TGE”) after October 1, 2010.

JCCH has restrictions on the transfer of its shares, but at the September 3 meeting, its board of directors approved the divestment of TGE’s holdings to TOCOM. TOCOM will apply to the clearing house for a transfer of ownership on or after October 1, 2010.

As a result of this transfer, TOCOM will own 63.3 percent of JCCH stock, making the clearing house a subsidiary of TOCOM. The Exchange intends to develop closer cooperation with JCCH, which is responsible for clearing all commodity futures trades in Japan, in order to further enhance its function and credibility.  

[JCCH Shareholder Composition ]

Shareholders

Present

After the transfer

Number of shares

Voting rights

Number of shares

Voting rights

Tokyo Commodity Exchange, Inc.

5,250

42.00%

7,910

63.30%

Tokyo Grain Exchange Inc.

2,660

21.30%

0

0.00%

Central Japan Commodity Exchange

2,500

20.00%

2,500

20.00%

Kansai Commodities Exchange

1,260

10.10%

1,260

10.10%

National Futures Protection Fund

830

6.60%

830

6.60%

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