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Definition: Tokyo Commodity Exchange – TOCOM
TOCOM is the largest derivative platform in Japan which regulates trading of futures contract and options on metals, oil, rubber and other natural resources. It was established in 1984 as a result of the merger of Tokyo Textile Exchange, Tokyo Gold Exchange and Tokyo Rubber Exchange. In 1991 electronic trading was launched and the clearing process was moved to Japan Commodity Clearing House. In 2009 it introduced a new trading system to promote 24 hour trading. It has signed memorandum of understanding with Singapore Mercantile Exchange and Dubai Mercantile Exchange to develop and strengthen new business opportunities in the commodity market.