Phillip Securities acquires TOCOM broker membership
Phillip Securities Japan, a Japanese subsidiary of Phillip Capital, a major Singapore based financial institution, has acquired Broker Membership of The Tokyo Commodity Exchange (TOCOM), Japan’s largest commodity futures exchange
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).
“It is our great pleasure to join TOCOM as a member and we see tremendous potential in this new partnership”
Tadashi Ezaki, President and CEO of TOCOM, says: "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," says Teyu Che Chern, CEO of Phillip Futures Pte Ltd in Singapore. "PhillipCapital has been present in Japan for over seven 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.
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