Yokohama Commodity Exchange
- Yokohama Commodity Exchange
Yokohama Commodity Exchange (Y-COM) was a futures exchange based in Yokohama, Japan which operated from 1998 to 2006.
History
The exchange was formed in 1998 from the merger of the Yokohama Raw Silk Exchange and the Maebashi Dried Cocoon Exchange.[ [http://www.y-com.or.jp Yokohama Commodity Exchange web site] , as at 2005 (site now gone)] ]As of 1 April 2006 the exchange merged into the Tokyo Grain Exchange, [ [http://www.tge.or.jp/english/about/about_02.shtml Exchange History page] at the Tokyo Grain Exchange (as at May 2006)] with silk and vegetables contracts moved there. The exchange's closure was due to declining trading volumes. [ [http://www.bloomberg.com/apps/news?pid=10000080&refer=asia&sid=aVvZpCczT0Uc Japan's Commodities Exchanges Falter as Internet Trades Surge] by Hector Forster and Fumishige Asanogold, Bloomberg news, 27 April 2006] 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
Trading was conducted in an "Itayose" auction-like system.
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
See also
* List of futures exchanges
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