Tokyo, November 5, 2014 - The Tokyo Commodity Exchange, Inc., (TOCOM), Japan's largest commodity futures exchange and one of the most prominent in Asia, announced today that it will provide its market data through futures order execution and analytics provider CQG, Inc.'s Continuum enterprise API division at two Illinois locations. CQG already brings TOCOM data to its customers, and now a customer can connect to TOCOM in the US via Continuum's Quotes Direct product.
By leveraging Continuum's industry-leading market data processing technology, TOCOM will provide traders, especially those also trading CME Group's products, with its market data in ready-to-use format. Traders can connect to TOCOM at 350 E. Cermak in Chicago and at the CME Group's data center in Aurora, Illinois. This service will allow them to pull TOCOM market data, in the same format as CME provides its own data, to power their trading systems and terminals via the Quotes Direct API.
Tadashi Ezaki, President and CEO of TOCOM, commented: "I am very pleased to be able to offer this service, with the strong support from CQG and their highly professional team. This new service will make TOCOM's market data easily accessible by market participants in Chicago."
"TOCOM was looking for a way to make their data available outside of Tokyo, specifically, to create a connection point in Chicago and our responsive API solution was the ideal fit for their needs," said Mike Glista, Vice President of Continuum. "This new connection allows a customer trading CME to also trade TOCOM without the need to connect in two separate places."
Trading from overseas, in terms of market share, at TOCOM has been increasing in the last five years since its introduction of the current trading system provided by Nasdaq OMX. Since 2013, foreign participations have been accounted for around 40% of TOCOM's overall volume and hit record high at 44% in September 2014. The increase was mainly from brokers in Hong Kong and Singapore as well as the United States. Together with the recently introduced Global Network Service (ultra-low-latency connectivity between Chicago and Tokyo), TOCOM aims to capture traders trading in cross-market arbitrage strategies, especially in primary contracts such as gold, platinum, as well as oil.
About Tokyo Commodity Exchange (TOCOM)
The Tokyo Commodity Exchange, Inc. (TOCOM) is Japan's largest commodity futures exchange and one of the most prominent in Asia. TOCOM's 2013 trading volume of 27.2 million contracts represented 98.6% of Japanese market share in 2013. TOCOM offers Futures contracts on precious metals (gold, silver, platinum and palladium); energy (crude oil, gasoline, kerosene and gas oil); natural rubber: agricultural products (soybeans, corn, azuki and raw sugar) and options on futures on Gold. TOCOM's gold market is the most liquid in East Asia and the Platinum market is most liquid in the world. TOCOM Rubber is the established global benchmark. All products are traded electronically.
TOCOM was established in 1984 with the merger of the Tokyo Textile Exchange, the Tokyo Rubber Exchange and the Tokyo Gold Exchange. TOCOM became a for-profit shareholder-owned company in 2008. TOCOM has launched the current trading platform based on the Nasdaq OMX technology in 2009 along with introduction of night session. In September 2014, the Exchange signed with the Osaka Exchange (OSE) of the JPX agreeing in principle to use their OMX derivatives system. TOCOM continuously searches for and implements new technologies and new trading rules to serve the interest of the global trading community.
Media Contact
Hidefumi Moriyama
Global Business Development
Tokyo Commodity Exchange, Inc.
+81 3-3661-1660
moriyama@tocom.or.jp