TOCOM, Net Energy Group signs MoU

The Tokyo Commodity Exchange (TOCOM) and Net Energy have announced the signing of an MoU. Net Energy provides an oil trading platform and brokerage services in North America. The MoU will strengthen the linkage of crude oil trading between the North American and Asian markets.

Production of shale oil in the U.S. and oil sands in Canada has increased and more crude is heading to Asian markets. Associated hedging is therefore increasing, and Net Energy and TOCOM are planning to support this growing market. Net Energy has an extensive network in the North American oil industry and, the Dubai crude oil futures contract, the benchmark for Asian crude, trades at TOCOM. The two companies plan to partner to provide flexible trading environment that meets the hedging needs in the North-American and Asian markets.

TOCOM crude oil will be added to Net Energy’s OTC trading platform, allowing traders to easily access Asian crude oil trading. Matched orders will flow to TOCOM through a Broker Member as an Off-Floor Transaction.

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