TOCOM Officially Approved to Launch Agricultural Product and Sugar Market on February 12, 2013

1.18.2013

 

The Tokyo Commodity Exchange, Inc, (TOCOM) announced today that the  launch of the Agricultural Product and Sugar Market has been approved by the Minister of Economy, Trade and Industry, as well as the Minister of Agriculture, Forestry and Fisheries. This approval has prompted the Exchange to set an official opening date of the new market for February 12, 2013. The products to be listed include: corn, soybeans, azuki (red beans) and raw sugar. The contract specifications will match those of the Tokyo Grain Exchange, except for a few amendments such as trading hours (9:00-15:30 and 17:00-4:00 JST).

Concurrent to the launch of the new market, the Exchange will change its Japanese corporate name to “Tokyo Shohin Torihikijo” to better reflect the addition of agricultural products to existing industrial commodities such as gold and rubber. The English corporate name will remain “Tokyo Commodity Exchange (TOCOM)”.

“We are excited about the expansion of our exchange into Japan’s comprehensive commodity marketplace with the launch the Agricultural Product and Sugar Market next month, as it shall mark a major milestone in our history, “ said Tadashi Ezaki, President and CEO of TOCOM. “Considering the importance of the agricultural industry in the Japanese economy, we realize that we assume a heavy responsibility in revitalizing the futures market. We are poised to make our best efforts to promote the healthy growth of the new Agricultural Product and Sugar Market.”

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