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About TGE
Exchange History

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Exchange History
The first commodity exchange in Japan was established in 1730 when the feudal government of Tokugawa responded to rice merchants' requests and authorized such transactions at the Dojima Rice Market in Osaka.

Tokyo, then called Edo in the Tokugawa era, followed Osaka in establishing rice markets in towns such as Koami-cho and Kobuna-cho, as well as at warehouses of feudal domains, trading futures on rice produced in eastern part of Japan.

The Tokyo Grain Exchange originates from the Kakigaracho Rice Trading Exchange, established in 1874 by a group of the Chugai Shoko Kaisha. The Exchange then changed its name to the Tokyo Rice Trading Exchange, the Tokyo Rice Exchange and, in 1908, to the Tokyo Rice and Commodities Exchange.

In July 1939, however, the economic control under the World War II forced the Exchange to close. It was not until September 1952, the Exchange was reestablished as the trading facility listing futures contracts on agricultural commodities, in response to the government lifting the policy of grain control the previous year.

Since the start of futures trading on October 10, 1952, the reestablished exchange was housed in the same building it occupied in the pre-war era until it was newly constructed in November 1987.

Though there were only 3 futures contracts (Domestic Soybeans, Azuki Beans, Potato Starch) at the reopening, the Exchange has widened the listings over the years to include Corn, Soybeans and Non-GMO Soybeans, Arabica Coffee and other products.

On November 2, 2009 TGE had a structural change from a non-profit membership organization to a for-profit corporation.


Chronological
History
 
1952 October 10 Opening of the Tokyo Grain Exchange with futures on Soybeans, Azuki Beans and Potato Starch.
1957 January 4 Launched futures on White Kidney Beans
1961 September 1 Launched futures on US Soybeans
1972 October 2 US Soybean futures was renamed to Imported Soybean futures
1973 May 7 Changed the trading style from single price method at the opening and closing with a continuous auction to a session based single price trading system.
1973 August 1 Computerized clearing procedures started
1984 March 1 Imported Soybean futures were renamed to Chinese Soybean futures. Separately, US Soybean futures were launched
1985 May 16 Became a member of Futures Industry Association in the US
1987 December 1 Opening of the new Exchange building
1988 April 1 Launched a fully computerized trading system, moved from floor hand trading
1991 June 3 Launched options on US Soybean futures
1991 November 5 Consolidated the trading platform with the Tokyo Sugar Exchange(TSE)
1991 December 12 The trading floor was renovated into TGE Hall, a multi-purpose exhibition space
1992 April 20 Pilot listing of Corn futures
1992 May 6 Options on Raw Sugar futures (TSE) began
1993 February 17 CFTC approval of Part 30 exemption
1993 September 30 Delisting Domestic Soybean, Potato Starch and White Kidney Bean futures
1993 October 1 Merged with the Tokyo Sugar Exchange
(Raw Sugar and Refined Sugar futures were transferred to TGE)
1994 April 5 Formal launch of Corn futures
1994 July 1 Introduced Market-Makers to the options market
1995 April 1 Merged with Hokkaido Grain Exchange
1996 January 4 Launched the first Exchange website in Japan
1996 April 15 Concluded a MOU on FIA International Information Sharing Agreement
1996 December 2 Upgraded to a new trading system for futures and physical products
1997 February 28 Completion of TGE Annex building, which was the former Tokyo Sugar Exchange building
1997 September 12 A new trading system for options started to trade
1997 September 16 Launched options on Corn futures
1998 June 16 Pilot listing of futures on Arabica and Robusta Coffee
2000 April 1 Formal launch of futures on Arabica and Robusta Coffee
2000 April 21 US Soybean futures were renamed to IOM Soybean futures
2000 May 18 Non-GMO Soybean futures began
2001 October 11 Pilot listing of Soybean Meal futures
2002 April 1 TGE e-Commerce, an electronic trading site for physical agricultural products started
2002 October 29 IOM regular Soybean futures were renamed to Soybean futures
2003 October 1 Became a member of Futures and Options Association in UK
2003 November 15 Concluded a Letter of Intent in mutual cooperation with Dalian Commodity Exchange in China
2004 March 18 Concluded the MOU with Chicago Board of Trade in building mutual cooperation
2004 July 24 Concluded a MOU with Agricultural Futures Exchange of Thailand
2004 September 9

Delisted futures on Chinese Soybeans
Concluded a MOU with New York Board of Trade
2004 September 14 Pilot period for Soybean Meal futures was extended from 3 years to 6 years
2005 March 15 Concluded a MOU with National Commodity & Derivatives Exchange, India
2005 May 2 Clearing operations shifted to Japan Commodity Clearing House
2005 November 30   Concluded a MOU with Dalian Commodity Exchange
2006 April 1   Merged with Yokohama Commodity Exchange
(Raw Silk and Vegetable Index futures were transferred to TGE)
2006 June 7 Concluded a MOU with Zhengzhou Commodity Exchange
2007 January 4   Suspension of trading for options on Soybeans and Raw Sugar futures
2007 March 1   Suspension of options on Corn futures
2007 June 27   Suspension of Vegetable Index futures
2007 October 12   Suspension of Soybean Meal futures
2007 December 21   Delisting of Vegetable Index futures
2008 January 4   Launched the continuous trading platform for Arabica Coffee, Robusta Coffee and Raw Sugar futures.
2008 June 16 TG Index was announced on our website
2008 September 12 Delisted Soybean Meal futures
2009 January 5 Migration of trading for Non-GMO Soybean Futures to continuous trading system
2009 March 2 Trading of Raw Sugar futures were moved to session trading market (call market)
2009 April 27 TG Sub-Indexes was announced on our website
2009 September 30   Suspension of Silk futures
2009 October 1   Trading of Non-GMO Soybean, Arabica Coffee and Robusta Coffee futures were moved to session trading market (call market)
2009 November 2   The Exchange demutualizes and becomes Tokyo Grain Exchange Inc.
     

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