The Tokyo Commodity Exchange (Tocom) plans to launch by May 2009 a next-generation trading and clearing system from Nasdaq OMX Group. Yuichi Fukui, executive director of the systems division at Tocom, Japan's largest commodity market, said on April 16 that the platform will help it "grow and thrive in the global commodity marketplace."
The platform will allow Tocom to support larger transaction volumes and automate clearing, according to Nasdaq spokesperson Carl Norell. "The system will enable faster and more efficient settlement of transactions, less complex and expensive hardware infrastructure and a centralized administration," he said.
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