The Financial Futures Association of Japan (FFAJ) on Friday has published November month over-the-counter (OTC) retail fx margin trading figures. The FFAJ is a self-regulatory body established in 1989 to govern the Japanese futures market.
After reporting a surprise uptick in trading activity in October 2018 by all its FFAJ members, the overall downside trend this month seems to be restored back on the back of the sluggish market. In November month, FFAJ members wiped out most of the gains it achieved in the October month.
Prior to October, the last four months had seen a consecutive decline in trading activity by its 53 members, which has been constant since April 2018. In the month of November, the total OTC retail FX margin trading volumes were reported at ¥314 trillion ($2.8 trillion), registering a drop of 11.2 per cent month-on-month from ¥354 trillion.
Since May 2018, which recorded monthly trading volume of ¥371 trillion, the OTC trading activity for FFAJ members has been on a constant downward trend with October showing the surprise change in momentum. The trading volume for USDJPY has recorded 14.53 per cent month on month fall to reach ¥314 trillion. On exchange contracts are also down by 10.71 per cent or 2,672 contracts, coming in at 22,284 contracts in November.
In the OTC binary options segment, the trading volume of its members was similar to the retail FX figures, registering a down from October 2018. In November month, the total trading volumes came in at ¥30.5 billion, which is 5.3 per cent less than what it had in October at ¥32.2 billion. The total number of trading payments during the month was 15.6 billion, which is 5 per cent less month-on-month from 16.5 billion.