GL TRADE became the first independent software vendor to offer connectivity to the Tokyo Commodities Exchange (TOCOM) after the exchange decided last November to allow it. It now has seven brokerage firms trading commodities on the Japanese market through its solution.
Tokyo Commodity Exchange is Japan’s largest futures market, and has become more and more attractive to foreign institutional investors since new regulations were implemented, and the arbitrage possibilities between Japanese, European and US commodities markets have become more obvious. The exchange has also adopted a single central counterparty clearing structure, which reassures foreign investors.
TOCOM is also preparing to widen its range of products by introducing options on futures, starting in May with its most popular product, Gold Futures. GL TRADE anticipates the development of its software in order to be able to offer options on futures trading to its clients in due time.
“The TOCOM gateway means new business for GL NET, GL TRADE’s dedicated order routing network which connects 500 financial institutions worldwide”, says Anne Jeanmart, GL NET Business Development Manager. “Through GL NET remote members can easily and quickly connect to the market”.
GL TRADE has also developed market access to the other main Japanese cash and derivatives markets such as OSE, TSE, TIFFE and JASDAQ. The GL TRADE Tokyo office opened in 2001 and today counts 70 people, including a local development team of 20 engineers.