Tokyo Commodity Exchange has unveiled a series of
initiatives to attract new users and raise its trading volumes,
which have been declining since 2006. The Ministry of Economy,
Trade and Industry will have to approve the changes.
Tocom hopes to roll out on October 8 an initiative to
recruit proprietary traders and a remote membership scheme,
enabling overseas entities to engage in proprietary trading
themselves, without having to open an office in Japan or go
through a broker member.
"Tocom’s membership has been limited mainly to
the entities involved in the production, processing, or
merchandising of a commodity, and also futures commission
merchants, but now it will be open to the proprietary trading
firms," the exchange said in a statement.
Tocom will also create a new category for investment trusts
and raise their position limits, which had previously been set
at the same level as those of individual investors. It hopes
the new position limits will encourage trusts to set up mutual
funds, such as exchange-traded funds.
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