23 August 2017
visit www.avoka.com

Tocom offers virtual trading in bid to establish confidence in new platform

28 July 2009  |  2351 views  |  0 Japanese flag

The Tokyo Commodity Exchange is set to launch a virtual trading environment, Tocom-V Trade, in a bid to help users get a feel for the bourse's new Nasdaq OMX technology-based platform.

The commodity exchange's new system, based on Nasdaq OMX package software, went live in May, offering new features such as a wider array of order types and a circuit breaker system.

The virtual trading environment, to launch in August, will be offered for free via a PC connected to the Internet and use the same Tocom order types and trading rules as in the physical system.

The exchange says the service will help existing and new members establish confidence in, and improve understanding of, the new system and trading rules. In addition, it can also be used by IT vendors as an advertising tool.

The bid to boost confidence in the new platform comes in the wake of a tough launch. Less than a month after it went live, the system was hit by an outage, which forced a halt in trading for three hours. The glitch, which was blamed on a defective router, led to president and CEO, Masaaki Nangaku, volunteering to take a 10% hit on his pay for the month. Shortly after this, Nangaku was replaced as CEO by Tadashi Ezaki.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Tokyo Commodity Exchange CEO takes pay hit over trading outage

Tokyo Commodity Exchange CEO takes pay hit over trading outage

27 May 2009  |  4173 views  |  0 comments
OMX reports Tocom trading technology contract

OMX reports Tocom trading technology contract

19 December 2007  |  4313 views  |  0 comments
Tocom signs for Smarts surveillance

Tocom signs for Smarts surveillance

22 February 2005  |  3532 views  |  0 comments
Patsystems signs Nihon Unicom as distributor; connects to TOCOM

Patsystems signs Nihon Unicom as distributor; connects to TOCOM

03 October 2003  |  3439 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.worldpaymentsreport.comdownload the paper nowvisit www.dorsum.eu

Top topics

Most viewed Most shared
Rabobank constructs physical model to understand IT architectureRabobank constructs physical model to unde...
19760 views comments | 43 tweets | 80 linkedin
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
13326 views comments | 28 tweets | 23 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
11944 views comments | 22 tweets | 34 linkedin
Australia regulates digital currenciesAustralia regulates digital currencies
11187 views comments | 21 tweets | 35 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
11057 views comments | 10 tweets | 8 linkedin