Japan Commodity Clearing House Made Citibank Japan General Clearing Participant


The Japan Commodity Clearing House Co., Ltd (JCCH), a wholly owned subsidiary of the Tokyo Commodity Exchange, Inc., announced today that Citibank Japan, Ltd. has become the first bank to receive General Clearing Participant designation.

As a General Clearing Participant of JCCH, Citibank Japan is eligible to clear trades on TOCOM’s markets for precious metals, oil and Chukyo-oil as well as rubber, agricultural products and sugar. They are able to clear on behalf of their customers as well as non-clearing participants.

Since JCCH’s establishment in 2004, Citibank Japan is the first institution to become a General clearing participant that is not a TOCOM member.

Takamichi Hamada, President and CEO of TOCOM commented, “It is an honor that Citibank Japan has joined our market as a JCCH General clearing participant. They are the Japanese arm of a major global financial institution that provides clearing services worldwide. Entering our markets signifies their recognition of our current development and future prospects. We expect the presence of Citibank Japan to encourage other global market participants to consider TOCOM, which would help increase market liquidity.

Takaaki Yoshida, CEO and Chairman of JCCH said, “We are pleased to designate Citibank Japan, a financial institution with global operations and outstanding integrity, a General clearing participant. Citibank Japan understands our commitment to maintaining international risk management standards and we hope that their presence encourages the entry of new market participants. Furthermore, we expect their presence to raise our profile and further improve TOCOM markets.

[Reference] JCCH Clearing Qualifications

JCCH designates "Individual clearing participant" and "General clearing participant", depending on the markets they intend to serve. Individual clearing participants can clear trades on their own behalf and on behalf of their customers, while General clearing participants may clear trades for themselves and on behalf of their customers and non-clearing participants.

About JCCH
The Japan Commodity Clearing House Co., Ltd. (JCCH) started operations in May 2005 after being granted approval by the Ministry of Agriculture, Forestry and Fisheries and the Ministry of Economy, Trade and Industry in April 2005. JCCH provides clearing and settlement services for transactions on all commodity exchanges in Japan. In December 2012, JCCH became a wholly owned subsidiary of the Tokyo Commodity Exchange, Inc.

At present, JCCH provides clearing and settlement services for the transactions on the Tokyo Commodity Exchange and the Osaka Dojima Commodity Exchange.