Japan OTC Exchange, a unit of Tokyo Commodity Exchange, has launched the new liquefied natural gas (LNG) contracts on its new OTC trading platform.
“The newly launched contracts include physical and cash settled swap contracts to be settled against the DES Japan/Korea Marker (JKM), assessed and published by S&P Global Platts, the benchmark price for LNG in Asia,” Tocom said in a statement on Monday.
In addition, and as agreed in the memorandum of understanding between Platts and Tocom signed in November last year, the transactions of the new contracts could be used as part of Platts’ JKM assessment process where data is in line with Platts existing methodology and prioritization processes, the statement said.
“Tocom is committed to developing these markets to enhance the convenience of Asian LNG market and to facilitate price discovery,” it added.