Citibank Japan seeks membership in commodity futures clearing house
Citibank Japan is looking to join the clearing house that settles trades on the Tokyo Commodity Exchange, Tocom. This move comes at a time when many European and US banks are cutting back their exposure to the commodities market due to tighter financial regulations.
TOKYO -- Citibank Japan is seeking to join the clearing house that settles trades on the Tokyo Commodity Exchange.

The exchange, known as Tocom, plans to list electricity futures in the latter half of 2016. Since trading units are expected to be around five times those of ordinary futures -- between 10 million yen and 20 million yen ($82,000 to $164,000) -- Tocom has been looking for a clearing member that can provide credibility.