Tokyo Grain Exchange Signs Contract With Patsystems To Create Continuous Market For Rice Futures Contracts

The Tokyo Grain Exchange announced that TGE entered into a contract with Patsystems to develop a next generation of continuous trading platform for rice futures contract which is under consideration. This is TGE’s first attempt to design a continuous market for futures trading.

The Rice Market Development Committee suggested that the Exchanges employed a continuous trading market for rice futures in the light of characteristic of the commodity and current situation of the cash rice market.

Takao Morisane, Chairman of the Tokyo Grain Exchange said: “We are looking to develop a state of the art system that will have an open architecture to provide access to overseas participants through volume contributors such as ISVs (Independent Software Vendors). We are thinking of launching the rice contract (currently under consideration) within a continuous market environment, and as a result we decided to select the proposal submitted by Patsystems. I firmly believe that Patsystems will meet our expectations in fulfilling its role. Through this new initiative we are expecting to be able to offer our members a more diverse environment and a wider range of products.”

Kevin Ashby, CEO of Patsystems said: “We are truly honored to have the opportunity to enhance our long-standing relationship with the exchange. I am confident that the exchange and its members will greatly benefit from the introduction of continuous trading in rice futures contracts, and from the option to integrate session trading and continuous trading on the same platform at a later date.”