OFOX Rapeseed Futures Added to International Commodity Index
OSAKA, JAPAN, July 31, 2010 /24-7PressRelease/ -- The index was designed to meet the need for consistent investing in a broad-based international vehicle; it represents the value of a basket of commodities consumed in the global economy, ranging from agricultural to energy and metals products. The value of this basket is tracked via futures contracts on 36 different exchanges traded physical commodities, quoted in five different currencies, and listed on twelve exchanges in five countries.
Alan Beck, President of an important Osaka think tank and founder of the International Commodity Index, said: `We`re pleased to include the OFOX Rapeseed Futures in the International Commodity Index. We continue to review and maintain the Index to reflect the underlying market, which is a key reason why the International Commodity Index is one of the most diverse, stable, and benchmark for commodity indices in the market.`
John Yak Nagamura, Director Commodity Derivatives, said: `We originally launched the Asian rapeseed contract to enable customers to hedge movements in the price of this increasingly important agricultural commodity, which is used for feed, oil, and also as a fuel. The International Commodity Index Committee`s decision to include OFOX Rapeseed Futures Contract reflects the contract`s growing global significance, and we expect that it will further increase interest in this market.`
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