TOCOM to acquire Tokyo Grain Exchange shares of JCCH

Tokyo Commodity Exchange (TOCOM) has signed an agreement to acquire the shares of the Japan Commodity Clearing House (JCCH) held by Tokyo Grain Exchange (TGE).

JCCH has restrictions on the transfer of its shares, but recently its board of directors approved the divestment of TGE’s holdings to TOCOM.

TOCOM will apply to the clearing house for a transfer of ownership on or after 1 October 2010.

As a result of the transfer, TOCOM will own 63.3% of JCCH stock, making the clearing house a subsidiary of TOCOM.