Market News

Nov. 09, 2026 TOCOM Trading Volume of TOCOM’s Electricity Futures Hits a Record High in October 2026

The trading volume of electricity futures on Tokyo Commodity Exchange (TOCOM) reached 916.8 GWh in October 2026, surpassing the previous monthly record of 901.8 GWh set in March 2025 and establishing a new all-time high in monthly trading volume.
In October 2026, trading of fiscal year contracts, in addition to the benchmark monthly contracts, contributed significantly to market growth against the backdrop of rising fuel prices.

JJ-Link (Forward Transaction Service Based on the Futures Market)

Since October 2024, TOCOM has been providing JJ-Link, a service linking physical electricity transactions and electricity futures transactions, in collaboration with Japan Electric Power Exchange (JEPX).

On August 31, 2026, JJ-Link entered Phase 2 and commenced operation as a forward transaction service based on the futures market.
After executing an electricity futures transaction, a participant may submit an application to use JJ-Link. By doing so, an equivalent volume is then submitted to the JEPX day-ahead market. The service is expected to simplify operational processes for electricity utilities, strengthen linkage between physical and futures transactions, and facilitate applying hedge accounting to electricity futures transactions.

Fee Discount Campaign in Progress (Until March 31, 2027)

To further promote trading in electricity futures, TOCOM is conducting a fee discount campaign through the end of March 2027, under which transaction fees (the sum of the trading participant fee and the clearing fee) are reduced by approximately 50 percent.

TOCOM will continue to promote the further development of the electricity futures market by improving trading rules and enhancing the trading environment to make it more user friendly.

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