Monday December 2 2013

News Source: Global Exchanges

Focus: Derivative Market Segment

Type: General




Tokyo Commodity Exchange has announced the establishment of the Japan OTC Exchange (JOE). This joint venture with Ginga, a Japanese subsidiary of Singapore-based energy broker Ginga Petroleum, will focus on OTC markets for petroleum and products. The new company is capitalised at 10 million yen with the authorized capital at 25 million yen. (Ginga Energy Japan: 60%, TOCOM: 40%).

The JOE will utilize its two parent companies to provide a platform for OTC markets for petroleum commodities and related products such as freight derivatives. The market will begin with swaps on gasoline, kerosene, gas oil and crude oil for fiscal 2014 (starting in April 2014 and closing at the end of March 2015).

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