Africa's largest bank by assets has been admitted to the Tokyo Commodity Exchange (TOCOM), it has been revealed.

Standard Bank will become a market member, meaning it will be allowed to trade on its own account in precious metals futures, TOCOM Chairman Masaaki Nangaku announced.

The move makes the bank the ninth non-Japanese member to join the exchange and demonstrates the increasing importance of Asian demand for precious metals, including platinum group metals (pgms).

Traders explained to Reuters that the increased interest in TOCOM is down to the fact that it is the most liquid commodity futures marketplace in the Asian time zone.

I welcome this kind of change in market structure as they can contribute to raise liquidity," Mr Nangaku said.

Ÿ Adfero Ltd