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GL TRADE, the first ISV to offer connectivity to TOCOM since last November 2003, following the exchange's new policy to admit ISV's, counts today not less than 7 brokerage firms trading commodities on the Japanese market.
Tokyo Commodity Exchange represents Japan's largest futures market and has become more and more attractive to foreign institutional investors since new regulations are being implemented.
Arbitrage possibilities between Japanese, European and US commodities markets are becoming very interesting and secured especially since the exchange adopted a single central counterparty clearing structure, which adds to the creditworthiness for 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," comments 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.