OMX reports Tocom trading technology contract

OMX reports Tocom trading technology contract

Swedish technology group and exchange operator OMX has inked a deal to supply an integrated trading and clearing platform for commodity derivatives to the Tokyo Commodity Exchange (Tocom).

OMX says Japanese telco NTT Data will act as integrator and operator of the new system, which is scheduled to be operational in Q1 2009.

Tocom's investment in the new trading and clearing system is part of an ongoing project to develop a high-end exchange platform that meets the needs of both domestic and international investors.

The Japanese exchange says the new technology will enable it to provide customers with "faster, more efficient and broader trading services".

OMX says Tocom is its first customer in Japan.

"Tocom is a transaction-heavy commodity exchange that is certain to profit from our systems," adds Markus Gerdien, president, market technology, OMX.

Last month OMX reported deals to provide a clearing system for derivatives and securities trading to the Singapore Exchange (SGX) and an integrated trading and clearing system to The Singapore Commodity Exchange (Sicom).

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