Tokyo Commodity Exchange Tokyo Commodity Exchange Tokyo Commodity Exchange, also known as TOCOM, is Japan’s largest and one of Asia’s most prominent commodity futures exchanges. TOCOM operates electronic markets for precious metals, oil, rubber and soft commodities. It offers futures and options contracts for precious metals (gold, silver, platinum and palladium); energy (crude oil, gasoline, kerosene and gas oil); natural rubber and agricultural products (soybeans, corn and azuki). TOCOM was established in 1984 with the merger of the Tokyo Textile Exchange, founded in 1951, the Tokyo Rubber Exchange and the Tokyo Gold Exchange. The exchange became a for-profit shareholder-owned company in 2008. It
Commodity rent, profit, labour and the costs of wear and tear on the instruments of husbandry. David Ricardo, a follower of Adam Smith, modified Smith's approach on this point by alleging that labour alone is the content of the exchange value of any good or service. While maintaining that all exchange value in commodities was derived directly from the hands of the people that made the commodity, Ricardo noted that only part of the exchange value of the commodity was paid to the worker who made the commodity. The other part of the value of this particular commodity was labour that