Tokyo-commodity-exchange meaning

A Japanese exchange on which a variety of commodity contracts are traded. Materials on which contracts are traded include aluminum, crude oil, gasoline, gold, kerosene, palladium, platinum, rubber, and silver. TOCOM is a non-profit membership organization, as defined under the Commodity Exchange Law that was passed in 1950, which regulates all commodities futures and options trading in Japan. TOCOM was established on Nov. 1, 1984 when the Tokyo Textile Exchange, the Tokyo Rubber Exchange, and the Tokyo Gold Exchange merged. TOCOM is regulated by the Ministry of Economy, Trade and Industry.
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