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The Central Japan Commodity Exchange (C-Com) and the Osaka Mercantile Exchange (OME) jointly announced that the Agreement on a merger between the two exchanges was signed today in Osaka. The merger becomes effective on January 1, 2007 and the surviving exchange will be the C-Com. The new Exchange will list wide range of contracts from industrial products, including energy and metals, to an agricultural product. In addition to the main office in Nagoya, the new Exchange will also hold a sub-office in Osaka as a trading center.
(Photos of the ceremony)
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Mr. Masayoshi Amano, Chairman of the OME, said: "I am delighted that through this merger, the trading in Osaka, the birthplace of the futures trading, will be continued and contributions to the Osaka?fs economy will be made. I would like to express my deepest appreciation for the valuable support and understanding rendered by our associates with regard to the management of the OME and I would like to ask for further support for the new Exchange in the years to come."
Mr. Fumihiko Kimura, Chairman and CEO of the C-Com, said: "I am very pleased with the merger. Amid the trend of concentration of business in Tokyo, the new exchange shall serve the function of mutual complementation to the Tokyo market as one of the 2 domestic poles. I am confident that the merger will give us the stronger foundation to survive the intense international competition."
