August 9, 2019 / 3:21 AM / 17 days ago

TOCOM to launch electricity futures on Sept. 17

TOKYO, Aug 9 (Reuters) -

* The Tokyo Commodity Exchange (TOCOM) on Friday said it would launch electricity futures on Sept. 17, a move that comes after a series of delays.

* TOCOM received approvals for the new product from the Ministry of Economy, Trade and Industry and the Ministry of Agriculture, Forestry and Fisheries on Friday.

* The exchange intends to offer transparent benchmark prices and opportunities for hedging for utilities through the new futures market, TOCOM Chief Executive Officer Takamichi Hamada said in a statement.

* Electricity futures will be traded during the day session between 0845-1515 JST (2345-0615 GMT) and the evening session between 1630-1900 JST (0730-1000 GMT).

Reporting by Yuka Obayashi; Editing by Joseph Radford

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