In 1950, the Commodity Exchange Law was introduced and commodity exchanges were established one after another. The Osaka Grain Exchange, precursor of the Kansai Commodities Exchange, was established in 1952.
Aiming to rebuild the Dojima Rice Market from the prewar days, the Osaka Grain Exchange listed cereals after the deregulation of starch and legumes in 1951, and hoped to also list rice someday.
During the remarkable changes in the domestic and foreign situation over the next 40 years, the Osaka Grain Exchange functioned to smoothly carry out commodity distribution, by implementing fair price formation and hedging risks for price fluctuation.
However, in order to strengthen its managerial base, improve social trust, and activate the Kansai economic bloc within a changing international economic environment, the Osaka Grain Exchange, Osaka Sugar Exchange and Kobe Grain Exchange merged into the Kansai Agricultural Commodities Exchange in October 1993. Furthermore this new Exchange merged with the Kobe Raw Silk Exchange in April 1997, and changed its name to the Kansai Commodities Exchange (KEX). KEX continued to be based in Osaka, the birthplace of Japan’s first commodity exchange. Thereafter we endeavored to list new commodities, and listed Corn 75 Index on Japan’s first agricultural products and feed index market in 1998. Subsequently, KEX listed NON-GMO soybean in 2000, Coffee Index in 2001 and Frozen Shrimp on Japan’s first marine product market in 2002. Finally KEX merged with the Fukuoka Futures Exchange on December 2006.
At last we started long-cherished of rice future as test listing on August 8, 2011. Furthermore, we took over the rice future from Tokyo Grain Exchange in February, 2013 and changed the name to Osaka Dojima Commodity Exchange(ODE) at the same time. Thereafter, we performed the review of the commodity design positively, while we aimed at official listing of the rice futures. In October, 2016, we fix three standards of "Tokyo Rice" (duties stored rice parameter), "Osaka Rice" (general Koshihikari parameter) and "Niigata Koshihikari" (single brand representative parameter). As the commodity exchange descending from "Dojima" and the only rice futures market in Japan, we aim at contributing to development and the activation of the domestic commodity futures market.
Organization and Operation
This is the member Commodity Exchange which receives the permission of the Minister of Agriculture, Forestry and Fisheries, based on the futures transaction method, and it establishes a commodity futures market.
The Board of Directors comprised of the Chairman and Directors picked by the General Meeting of the Members that is the decision-making best organization runs the normal business routine.
In addition, as a consultative body about duties, we have various committee meetings.