SMX to list contracts based on Tocom prices

The Singapore Mercantile Exchange (SMX) has signed a licensing agreement with Japan’s Tokyo Commodity Exchange (Tocom) to list “several” contracts based on Tocom prices. The SMX Tocom contracts will use the Tocom price as the last settlement price, delivery price, reference price, as well as daily settlement and/or final settlement price. The products will include crude oil, gasoline, kerosene and gasoil, the SMX said in a statement, adding that there is a possibility of cross-listing whereby Tocom might also list SMX products. SMX is a unit of India-based Financial Technologies (India) Ltd., which operates India’s Multi Commodity Exchange (MCX), the world’s sixth-largest futures exchange by volume. (October 15, 2010)