The Tokyo Commodity Exchange announced today the execution of its first off-floor transactions* with its newly launched Electricity Futures contracts. Off-floor volume for the first day is as follows:
East Area Baseload Electricity 20 contracts
*Off-floor transactions” (called “block transactions” outside of Japan), match buyers and sellers with futures that are executed at a price agreed to by the parties directly and not matched at the exchange. The parties are required to register the transaction with the Exchange for approval. Off-floor transactions can be used for clearing OTC transactions.
Off-floor transactions may be executed by both single Exchange Member or multiple Members.