Kansai Commodities Exchange
|Kansai Commodities Exchange|
The Kansai Commodities Exchange (KEX) is a commodity futures exchange based in Osaka, the birthplace of Japan’s first commodity exchange. KEX was ranked as the world's 53rd-largest derivatives exchange by volume in 2010 according to the annual volume survey published by the Futures Industry Association (FIA). The FIA report, published in March of 2011, notes that KEX's total volume for 2010 declined by 9.7% from the previous year, falling to 63,092 contracts.
The exchange was created with a slightly different name, Kansai Agricultural Commodities Exchange, in October 1993 with the merger of three regional exchanges: the Osaka Grain Exchange, Osaka Sugar Exchange and the Kobe Grain Exchange. In April 1997, the Kobe Raw Silk Exchange joined and the name was changed to the Kansai Commodities Exchange. The most recent merger to date was in December 2006 with the addition of the Fukuoka Futures Exchange.
Products and Services
The exchange currently lists eight agricultural products and indexes for trading:
- KEX Frozen Black Tiger Shrimp
- KEX Coffee Index, based on the robusta and arabica contract prices at the Tokyo Grain Exchange
- KEX Corn75 Index, an index combining CBOT Corn and Soybean Oil prices
- KEX Corn
- KEX US Soybeans
- KEX Azuki Beans
- KEX Raw Sugar
- KEX Broiler Chickens
The KEX ranked number 53 in 2009 in the Futures Industry Association's global list of top 53 derivatives exchanges measured by volume, down 62% on 2008's volume figure. The FIA list, published in early April 2010, reports that total volume for 2009 fell to 69,900 from 2008's figure of 180,884.