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The Tokyo Commodity Exchange, Inc. (TOCOM) announced today the signing of a Memorandum of Understanding (MOU) with Holly Su Futures (Hong Kong) Co., Ltd. in Nanjing. The MOU establishes a cooperative relationship for collaborating on mutually beneficial business opportunities. They will also pursue projects to increase market liquidity and reliability.
Holly Su Futures is a Hong Kong subsidiary of a Nanjing-based Chinese futures commission merchant, Holly Futures. Established in 1995, Holly Futures operates 44 branches across the country and is a subsidiary of JiangSu SOHO Holding Group, a state-owned enterprise that ranks among the top-ten leading companies in China. JiangSu SOHO’s activities are wide-ranging in the area of commerce and financial investment. Holly Futures was one of the first mainland Chinese FCMs to expand its business into Hong Kong and Holly Su is a member of the Hong Kong Exchange.
TOCOM and Holly Futures have developed a relationship over the past three years and Holly Su now trades on TOCOM’s Rubber market. The two will host a seminar and jointly market TOCOM’s Crude Oil futures among Chinese investors this August. The seminar will also promote arbitrage between TOCOM’s Dubai Crude Oil contract and a new Crude Oil contract planned to be listed on the Shanghai International Energy Exchange in near future.
At the signing ceremony, Takamichi Hamada, President and CEO of TOCOM commented, “I am pleased that our companies have reached a trusting relationship, developed over time, that has led to the conclusion of this MOU. We will work with Holly Futures to familiarize their customers with our Crude Oil and Gold futures, which are leading TOCOM products, for hedging and investment. We are thankful that Holly Su Futures are preparing to apply for a TOCOM remote broker membership. Their participation as a Member shall be a strong exhibition of our collaborative relationship and I expect it help raise TOCOM’s presence in China.
