Nagoya Commodity Exchange (ngcx.rg) Signs a Memorandum of Understanding with the Natural Gas Manufacturers’ Federation
Nagoya, Japan -- (SBWIRE) -- 10/30/2014 -- The memorandum of understanding aims to provide fundamental and technical training to the market participants, spread knowledge and awareness about the commodity futures trading and develop and provide services and facilities for the overall improvement of the commodity futures market and market practices, particularly in the energy segment.
The Natural Gas Manufacturers’ Federation use by?products of crude oil as an energy source in their glass melting furnaces. Thus, crude oil price volatility impacts the bottom line of the glass manufacturers. Nagoya Commodity Exchange (ngcx) will educate the market participants and enable Natural Gas manufacturers to take advantage of the commodity futures market to hedge their crude oil price exposures.
Speaking on this development Mr. Genichi Nakatoni, Chairman and CEO of Nagoya Commodity Exchange said: “We are delighted to be associated with The Natural Gas Manufacturers’ Federation. By virtue of this memorandum of understanding, market participants would be imparted knowledge about derivatives market through series of staff training and commodity awareness programs, which will engender confidence in them to hedge their price exposures”
Globally, Nagoya Commodity Exchange (ngcx) is one of largest exchange in crude oil with respect to the number of futures contract traded. Nagoya Commodity Exchange offers futures contracts in crude oil. Each contract represents 100 barrels of crude oil. These contracts can be fixed for each month up to six months ahead.
About Nagoya Commodity Exchange (ngcx)
Nagoya Commodity Exchange (ngcx.org) is a state-of-the-art, fully electronic commodities market offering a full range of listing and trading opportunities for international and domestic commodities, debt, depository receipts, insurance securitization and derivative warrants. Nagoya Commodity Exchange facilitates commodities trading and clearing and settlement of commodity futures transactions, thereby providing a platform for risk management. Nagoya Commodity Exchange significant growth over the last several years is due in large part to the company's innovative and flexible approach. In addition to taking a leading role in what has become a world trend towards profitability and demutualization, the Exchange has sought to create unique products and services for its markets.
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