NEW YORK and TOKYO, Sept. 22, 2016
(GLOBE NEWSWIRE) -- Nasdaq, Inc. (Nasdaq:NDAQ) and
the Tokyo Commodity Exchange (TOCOM) today announced the
successful go-live of TOCOM's new trading system, which is powered
by Nasdaq's Genium INET technology, as well as Nasdaq Pre-Trade
Risk and SMARTS Market Surveillance solutions. The new system is
now fully integrated with the Osaka
Exchange's derivatives trading system (J-GATE), which
also runs on the same Nasdaq trading technology. This approach
of a mutually-shared trading system between two separate exchanges
is one of first of its kind in the world. Nasdaq and TOCOM have
been technology partners since 2009.
"We would like to express our gratitude and
appreciation to our partner Nasdaq who has contributed to the
successful integration of TOCOM's new trading system
on OSE's J-GATE," said Takamichi Hamada, President and
CEO of TOCOM. "Through the utilization of the world's most
advanced functionality and the capacity of J-GATE, also
powered by Nasdaq, the TOCOM market will be able to expand
further and it will lead to strengthening the competitiveness
of the Japanese commodity market."
With this new trading engine, TOCOM will provide
ultra-fast trading and market information dissemination to its
trading members, while also being a one-stop trading environment
for domestic and foreign exchanges via a new connectivity service.
Further, the trading technology now enables TOCOM to extend across
boundaries between commodities and financial products, creating
significant efficiency for TOCOM investors, and also those trading
derivative products on the Osaka Exchange (i.e. J-GATE), who now
have access to the TOCOM marketplace.
"We are proud of this successful go-live of
TOCOM's new trading system, which brings new efficiencies and
access to Japan's markets, while also lowering costs across the
board for the exchange's investor and trading community," said Ulf
Carlsson, Vice President and Head of North Asia and Japan, Nasdaq.
"With this launch, TOCOM and JPX have achieved an incredibly
important milestone, where two independent exchange operators are
sharing the same trading platform, providing a common access point
into Japan's markets for traders across Japan, APAC and around the
world."
Nasdaq's exchange technology, including trading,
clearing, CSD and market surveillance systems, is in operation in
over 100 marketplaces across the Americas, Europe, Asia, Australia,
Africa, the Middle East and the Caribbean.
About TOCOM
The Tokyo Commodity Exchange, Inc. (TOCOM) is
Japan's largest commodity futures exchange and one of the most
prominent in Asia. Products include futures and options on precious
metals (gold, silver, platinum and palladium); energy (Dubai crude
oil, gasoline, kerosene and gas oil); and natural rubber and
agricultural products (soybeans, corn and azuki). 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 of TOCOM's products trade electronically, and
with over 24 million contracts trading hands in 2015, TOCOM trades
98.5% of Japan's commodity futures. Recent market upgrades are
meeting the needs of the global trading community and now half of
trading originates outside of Japan.
TOCOM originates with the Tokyo Textile Exchange,
which was founded in 1951. TOCOM itself was established in 1984
with the merger of the Tokyo Rubber Exchange and the Tokyo Gold
Exchange. In 2013, TOCOM launched the Agricultural Products &
Sugar market having taken over soft commodity contracts from the
Tokyo Grain Exchange.
http://www.tocom.or.jp
About Nasdaq
Nasdaq (Nasdaq:NDAQ) is a leading provider of
trading, clearing, exchange technology, listing, information and
public company services across six continents. Through its diverse
portfolio of solutions, Nasdaq enables customers to plan, optimize
and execute their business vision with confidence, using proven
technologies that provide transparency and insight for navigating
today's global capital markets. As the creator of the world's first
electronic stock market, its technology powers more than 70
marketplaces in 50 countries, and 1 in 10 of the world's securities
transactions. Nasdaq is home to more than 3,700 listed companies
with a market value of approximately $9.3 trillion and more than
17,000 corporate clients. To learn more,
visit: nasdaq.com/ambition or business.nasdaq.com
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