Yokohama Commodity Exchange

From Wikipedia, the free encyclopedia
Jump to: navigation, search

Yokohama Commodity Exchange (Y-COM) was a futures exchange based in Yokohama, Japan which operated from 1998 to 2006.

History[edit]

The exchange was formed in 1998 from the merger of the Yokohama Raw Silk Exchange (横浜生絲取引所) and the Maebashi Dried Cocoon Exchange (前橋繭糸取引所).[1]

As of 1 April 2006 the exchange merged into the Tokyo Grain Exchange (東京穀物商品取引所),[2] with silk and vegetables contracts moved there. The exchange's closure was due to declining trading volumes.[3] Although 2005 and 2006 were boom times in commodity speculation in other areas like oil and metals, that action didn't extend to Yokohama.

Y-COM's end as a separate organisation was another in an ongoing consolidation of exchanges in Japan. In 1983 for instance there were 19 regional exchanges, with the closure of Y-COM there remained only 6.

Operations[edit]

Trading was conducted in an "Itayose" auction-like system.[1] There were four sessions each day, in which a single price was established for each contract month for each commodity.

Commodities traded were

In the past dried cocoons were traded.

References[edit]

  1. ^ a b Yokohama Commodity Exchange web site Archived October 30, 2005, at the Wayback Machine., as at 2005 (site now gone)
  2. ^ Exchange History page Archived September 11, 2006, at the Wayback Machine. at the Tokyo Grain Exchange (as at May 2006)
  3. ^ Japan's Commodities Exchanges Falter as Internet Trades Surge by Hector Forster and Fumishige Asanogold, Bloomberg news, 27 April 2006

See also[edit]