Tokyo Commodity Exchange To Launch Cash-settled Oil Futures Contracts On May 8

The Tokyo Commodity Exchange Inc., announced today the receipt of regulatory approval from the Minister of Agriculture, Forestry and Fisheries as well as the Minister of Economy, Trade and Industry to launch the Cash-settled Oil Futures contracts. The new market will start trading on May 8.

Takamichi Hamada, President & CEO of TOCOM commented, “With the launch of this new market, we expect to provide transparent and fair benchmark prices that closely reflect supply and demand in physical oil market. We primarily hope to see participation from across the industry. The new market is designed to attract a wide range of market participants, too. We expect that the cash-settlement and reduced size of the Lorry-based contracts will attract retail investors. TOCOM will make all efforts to develop this Cash-settled Oil Futures market so that its prices will be widely accepted in the industry leading to the improved convenience of the Japanese society.”

For the specifications of the Cash-settled Oil Futures contracts, please click here …(PDF) Cash-settled oil futures contract specifications