TOCOM rejects report that it plans to ask CME for investment

03/8/2012 | Reuters · Financial Times (tiered subscription model)

The Tokyo Commodity Exchange has denied a report by a newspaper in Japan that it plans to ask CME Group to take a stake in it. "But we've been watching the industry trend towards tie-ups among exchanges both in Japan and overseas and we cannot completely deny that such a thing could happen to our exchange in the future if it would be beneficial to us and the commodities industry as a whole," said Tadashi Ezaki, chief executive at TOCOM. The two exchanges reportedly are, however, talking about a deal that would see TOCOM use CME's Globex trading system.

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