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The Tokyo Commodity Exchange (TOCOM) announced today the celebration of the 30th anniversary of its gold futures contract. On March 23, 1982, the Tokyo Gold Exchange, the market operator at the time, launched the first gold futures contract in Japan. Two years later, the Tokyo Commodity Exchange was formed by merging the Tokyo Gold Exchange, Tokyo Textile Exchange and Tokyo Rubber Exchange.
Significant records for the TOCOM Gold contract (active month) include a high price of 4,754 yen per gram on September 7, 2011 and a low of 836 yen per gram on September 16, 1999. The highest daily volume is 524,674 contracts established on February 5, 2003 and the highest open interest is 617,882 contracts on February 21, 1996.
Tadashi Ezaki, President & CEO of TOCOM, commented at the reception commemorating the anniversary, “It is with deep thanks to our market participants, industry players and related parties for their ongoing support. They have not only put the gold market on a path to be the leading product of TOCOM, but also a globally recognized benchmark. Having led the effort to launch the gold market when I was an official at MITI (the Ministry of International Trade and Industry, later renamed to METI, the Ministry of Economy, Trade and Industry), it is my profound pleasure to celebrate this milestone with you today. I appreciate your continued cooperation in support of the gold market and all of TOCOM’s products.”
