TOKYO--(BUSINESS WIRE)--The Tokyo Commodity Exchange (TOCOM), Japan's largest commodity futures exchange, announced that Phillip Securities Japan, a Japanese subsidiary of Phillip Capital, a major Singapore based financial institution, acquired Broker Membership on May 24, 2012. Phillip Securities Japan is entitled to trade and clear for its global customers in the precious metals, oil and rubber markets. The total number of TOCOM members is now 84 (including 21 Broker Members).
Mr. Tadashi Ezaki, President and CEO of TOCOM said, "We are delighted to welcome Phillip Securities Japan as a Broker Member. With the strong customer base their parent company, Philip Capital, has built in expanding its global network to 13 countries, we expect to reach out to a wider community of global trade participants, particularly in the fast-growing Asian marketplace. Our partnership shall boost our pursuance of raising our presence as the primary commodity exchange in Asia."
"It is our great pleasure to join TOCOM as a member and we see tremendous potential in this new partnership," said Mr. Teyu Che Chern, CEO of Phillip Futures Pte Ltd in Singapore. "PhillipCapital has been present in Japan for over 7 years and our clients have shown increasing interest in the commodity future products offered by TOCOM. Obtaining clearing membership with TOCOM is a further testament of our commitment to strengthen our business of facilitating and clearing derivatives in this key marketplace. At the same time, derivative products offered by TOCOM can now be made more accessible through Phillip Capital as a gateway."
In recent years, TOCOM has successfully executed various market reforms such as launching a NASDAQ OMX platform offering world-class trading functionality and extending trading hours. As a result, market participation by overseas investors has increased to over 30 percent of exchange-wide trading volume in March 2012.
About Tokyo Commodity Exchange (TOCOM)
The Tokyo Commodity Exchange, Inc. (TOCOM) is Japan's largest commodity futures exchange. With a trading volume of 31.6 million contracts, the exchange represented nearly 90% of the market in 2011 and is one of the most prominent in Asia. Futures and Options contracts are traded electronically on a variety of industrial products such as gold, platinum, crude oil, gasoline, kerosene gas oil and natural rubber (RSS3). TOCOM was established in 1984 as a result of a merger between Tokyo Textile Exchange, Tokyo Rubber Exchange and Tokyo Gold Exchange.
TOCOM's recent achievements include launching a new trading platform based on Nasdaq OMX technology and extending the night session until 4:00 JST. www.tocom.or.jp/
About PhillipCapital
Established in 1975, PhillipCapital is an integrated financial institution which offers a full range of quality and innovative financial services to retail, corporate and institutional customers. Our comprehensive suite of financial services include fund management, unit trusts, insurance planning, investment research and broking in bonds, securities, futures, foreign exchange, precious metals and commodities. Institutions can also benefit from our corporate finance and advisory services as well as information technology solutions. With more than 3500 employees globally, our assets under management worldwide totals more than USD 18 Billion with shareholders' funds in excess of USD 1 Billion.
Today, PhillipCapital operates in the financial hubs of 13 countries, with offices in Singapore, Japan, Malaysia, Indonesia, Thailand, Hong Kong, China, Sri Lanka, United Kingdom, France, Turkey, Australia and USA. www.phillip.com.sg/
About Phillip Securities Japan, Ltd
Established in 1920 as Jyoko Nobuhiro Inc, Phillip Securities Japan is Phillip Capital's securities arm in Japan. The firm is a member of TOCOM, TSE, OSE (Jasdaq & Futures) and Tokyo AIM. With more than 120 employees, Philip Securities Japan provide Japanese Equities, Asian Equities, US Equities, Bonds, FX, Funds and Futures to B2C and B2B clients, via face to face phone, call centre and internet. We are among only a few securities companies to have both TOCOM and OSE membership.