Record #00437Economy archive
Osaka's Dojima Rice Exchange was officially authorized in 1730 and is regarded by Japan Exchange Group as the world's first institutional futures exchange.
Achievement date
1730
1730
Rice trading in Edo-period Osaka developed around rice taxes shipped by feudal domains. Rice bills became tradable instruments.
Dojima developed membership, book settlement and clearing mechanisms. The record concerns an institutional exchange, not the earliest individual forward contract.
The record conclusion has sufficient verification support.
Basis: direct confirmation by an authority
Earlier forward agreements existed; the scope is officially institutionalized futures exchanges.
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