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CFTC issues Order of Registration for Tokyo Commodity Exchange

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The US Commodity Futures Trading Commission (Commission) has issued an Order of Registration to the Tokyo Commodity Exchange (TOCOM), a Foreign Board of Trade located in Tokyo, Japan.  

Under the Order, TOCOM is permitted to provide its identified members or other participants located in the US with direct access to its electronic order entry and trade matching system to trade futures contracts on metals, fuels, rubber and agricultural commodities and futures and option contracts on gold.

The Commission issued the Order in accordance with Part 48 of the Commission’s regulations, which provides that such an Order may be issued to a foreign board of trade that possesses, among other things, the attributes of an established, organised exchange and that is subject to continued oversight by a regulator that provides comprehensive supervision and regulation that is comparable to the supervision and regulation exercised by the Commission.

TOCOM submitted an application for registration that included, among other things, representations that its regulatory regime under its regulatory authorities (Japanese Ministry of Economy, Trade and Industry and Ministry of Agriculture, Forestry and Fisheries) satisfy the requirements for registration in Commission regulation 48.7.

Upon review of the application, the Commission has determined that TOCOM has demonstrated its ability to comply with the requirements of the applicable Commission regulations. Accordingly, the Commission granted TOCOM an Order of Registration to permit it to provide direct access to its identified members or other participants located in the US, subject to the terms and conditions specified in the Order. The terms and conditions applicable to the Order include, among others, that TOCOM shall comply with Commission regulation 48.8, Conditions of Registration, and any additional conditions that the Commission deems necessary and may impose, after appropriate notice and opportunity to respond.  TOCOM shall also continue to fulfil each of the representations it made in support of the application for registration.

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