Tokyo Commodity Exchange Volumes Down in August

Friday, 06/09/2013 | 12:21 GMT by Adil Siddiqui

Trading volumes at Japan’s most liquid commodities exchange suffered from figures reported a month earlier. In August the firm announced that the overall number of daily contracts traded dropped by 4.7%.

Tokyo Commodity Exchange Volumes Down in August

Japan's main commodities bourse, the Tokyo Commodity Exchange (TOCOM) has posted a 4.7% drop in month on month volumes for August 2013. Its key gold contract dropped over 9%.

TOCOM, one of the world’s most liquid exchanges after the CME for commodities trading announced disappointing results for August. Although the metal had a volatile month of price movements, the Exchange failed to convert this into strong operating numbers.

Overall the exchange reported average daily trading volume at 95,792 contracts per day, a decrease of 4.7% from July 2013. Gold dropped 9.2% to 43,341 contracts; Platinum was down 4.7% to 14,390.

The Tokyo Commodities Exchange may get a surprise competitor, the Japan Exchange, a by-product of the recent merger between the Tokyo Stock Exchange and the Osaka Securities Exchange, is planning to develop its derivatives offering and potentially enter the commodities space.

Japan's main commodities bourse, the Tokyo Commodity Exchange (TOCOM) has posted a 4.7% drop in month on month volumes for August 2013. Its key gold contract dropped over 9%.

Overall the exchange reported average daily trading volume at 95,792 contracts per day, a decrease of 4.7% from July 2013. Gold dropped 9.2% to 43,341 contracts; Platinum was down 4.7% to 14,390.