Yokohama Commodity Exchange
Yokohama Commodity Exchange (横浜商品取引所) (Y-COM) was a futures exchange based in Yokohama, Japan which operated from 1998 to 2006.
History
[edit]The exchange was formed in 1998 from the merger of the Yokohama Raw Silk Exchange (横浜生絲取引所) and the Maebashi Dried Cocoon Exchange (前橋繭糸取引所).[1]
As of 1 April 2006 the exchange merged into the Tokyo Grain Exchange (東京穀物商品取引所),[2] with silk and vegetables contracts moved there. The exchange's closure was due to declining trading volumes.[3] Although 2005 and 2006 were boom times in commodity speculation in other areas like oil and metals, that action didn't extend to Yokohama.
Y-COM's end as a separate organisation was another in an ongoing consolidation of exchanges in Japan. In 1983 for instance there were 19 regional exchanges, with the closure of Y-COM there remained only 6.
Operations
[edit]Trading was conducted in an "Itayose" auction-like system.[1] There were four sessions each day, in which a single price was established for each contract month for each commodity.
Commodities traded were
- Potatoes — Japanese produced Dansyaku size "L"
- Japanese raw silk — 27 denier 3A produced in Japan
- Vegetables — cash settled average of several vegetable prices
In the past dried cocoons were traded.
References
[edit]- ^ a b Yokohama Commodity Exchange web site Archived October 30, 2005, at the Wayback Machine, as at 2005 (site now gone)
- ^ Exchange History page Archived September 11, 2006, at the Wayback Machine at the Tokyo Grain Exchange (as at May 2006)
- ^ Japan's Commodities Exchanges Falter as Internet Trades Surge by Hector Forster and Fumishige Asanogold, Bloomberg news, 27 April 2006
See also
[edit]
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