TOCOM September Average Daily Volume Down 8.4% From August, Despite 75% Year-Over-Year Growth And 3-Year Record Daily Volume On September 26

Tokyo Commodity Exchange (TOCOM) announced today that September2011 trading volume averaged 160,372 contracts per day, down 8.4% from August 2011. On year­to­year basis, it increased 75.2%. There were increases in average daily volume for Platinum (up 7.2% to 13,847 contracts) and Gold Mini (up 8.3% to 22,352 contracts), among others. Conversely, Gold Standard, which is TOCOM’s most traded product,  decreased  14%  to an average  of 96,560 contracts  per day. Energy products also saw declines: Crude Oil was down 6.9% to 5,019 contracts; Gasoline was down 16.6% to8,168 contracts.

Labor Day in the United States and mid­month national holidays in Japan discouraged trading, but volume recovered significantly in light of increased volatility later in the month. This can be attributed to the strong need for risk mitigation, triggered by the perception of a worsening global financial crisis among market participants,  and the  consequent  drop  in commodity prices.  On September  26, daily trading  volume reached 319,512 contracts, the second highest after July 27, 2007 (326,972 contracts).

End of September open interest in all listed commodities totaled 332,670 contracts, an increase of 4,061contracts from the end of August 2011.

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