TOCOM to launch Chukyo Oil Market

Tokyo Commodity Exchange Inc. (TOCOM) said it plans to launch a new oil market called Chukyo Oil Market, on October 12, subject to government approval. Chukyo Oil Market will take over the market currently operated by Central Japan Commodity Exchange (C-COM), in response to a request from C-COM. The new oil market will list gasoline and kerosene and their contract specifications will be identical to the current C-COM product, except for the trading method and trading hours. TOCOM said that it intends to improve trading opportunities through the introduction of a new trading method and extended trading hours. (June 23, 2010)