The precious metal market of Osaka Dojima Exchange (ODEX) was set up and began on March 27. Although the market contains gold, silver and platinum listed on the same day, focus of attention will be gold futures. On March 20, the gold futures of Osaka Exchange, a subsidy of JPX, put 8,391 yen per gram as the closing price in day session of 2024 February delivery month(the main contract month), hitting a record high as closing price in day session and at 15:03 on the same day, the price reached 8,411 yen, the highest all the time. The gold standard futures has been passing for forty-one years since it was listed in Japan. After that, gold mini futures, gold rolling-spot futures and options on gold futures were added. It can be said that trend of the gold futures at ODEX depends on SBI Group, the largest shareholder of ODEX, so it will be paid attention that how many customers of the group can be attracted to the transaction and that how the group can get along with the commodity futures industry.

The gold futures which was listed at ODEX this time is cash-settlement style without physical delivery and its contract unit is 10 gram, one tenth of the unit of the gold rolling-spot futures at Osaka Exchange.
ODEX aims targeting the customers of SBI SECURITIES Co., Ltd. mainly　from now on, so it is unknown that how much they contribute to volume of the transaction. As there are over nine million customers who have accounts at the company, even if one percent of the customers take part in the trading, ninety thousand accounts come to be opened. The result leads to new costumers more than double of the present number of customers in the domestic commodity futures, however, there are many views that it is never easy to generate earnings.
At ODEX, there is no volume since April, 2022, so during this period, cost of trading system hasn’t occurred. By opening of the precious metal market, the cost comes to occur, so there is a high degree possibility that the assets will be eaten up at first and success or failure is whether the gold futures can make a profit as soon as possible or not.　

（Futures Tribune・issued March 21, 2023・no.3204）