The Financial Futures Association of Japan (FFAJ) on Friday released its second-quarter member activity report. The self-regulatory body was established in 1989 to govern the Japanese futures market. During the quarter, the members reported a strong uptick in foreign exchange contract traded.
At the end of the second quarter (July-September), FFAJ has reported 142 members, one more than the previous quarter. While the FX trading contracts were up, the overall trading activity of members of FFAJ was mixed with the total amount of on-exchange contracts traded was almost 16.1 million contracts. This is 3.38 per cent less than the previous quarter, as it recorded more than 16.6 million contracts were traded.
The number of domestic contracts also recorded a slight uptick, with the Q2 number coming just under 10.2 million contracts, representing an increase on 8.88 per cent than what was traded in Q1 at 9.3 million. Total domestic OTC trading volume during the second quarter came in at ¥8.86 trillion, which 12.2 per cent lower at ¥10.1 trillion in the first quarter.
In respect to total forex contracts, the on-exchange domestic futures contracts traded were 9.3 million contracts, a growth of more than 8 per cent from the first quarter. The number of forex contracts traded for overseas futures came in at 128,019 contracts, registering a growth of 21.14 per cent from the first quarter, with 105,751 contracts traded during the time-frame.