The Financial Futures Association of Japan (FFAJ) published its over-the-counter (OTC) forex margin trading figures for August, registering a third consecutive month of decline in trading activity. In August, the total numbers of members registered with the self-regulatory body remain unchanged from July, coming in at 53.
During the month, the firm reported total OTC FX trading volumes of ¥298 trillion ($2.7 trillion) amongst its member, which is down by 1.07 per cent from July’s volume figure, which was reported at ¥301 trillion. The monthly OTC figures are declining since May this year, and July’s figure is also 7.61 per cent lower compared to June and June figure dropped more than 12 per cent.
Out of total trading volumes of ¥298 trillion, USD/JPY pair reported total volume of ¥258 trillion, which is 2.8 per cent lower compared to July’s trading volume at ¥265 trillion. On the other hand, On-exchange contracts reported the higher trading volume of ¥2.5 trillion, a growth of 4.32 per cent.
August’s open positions data showed 3 per cent month-on-month decline in total open positions at ¥6.72 trillion. Total trading volume for short positions also witnessed decline from July’s volume of ¥2.85 trillion to ¥2.53 trillion in August. Trading volume for long positions showed the opposite trend with an increase of more than 6 per cent to reach ¥4.36 trillion.
Karthik Subramanian
Karthik Subramanian has been a professional trader and fund manager over the last 18 years. He is basically a software developer who made the transition to financial domain around 18 years back as the attractiveness of the financial markets proved too much for him. He lives in Chennai in India along with his wife and son. He began his career as a software developer in 1999 and then gradually moved into the financial industry as he began trading stocks in his pastime. He then moved into the financial markets full time and then shifted his focus to the FX markets due to the liquid nature of these markets. Since then, he has been trading FX diligently and his favourite pair are the EURUSD and EURJPY. Over the last couple of years, he has found blockchain to be of high interest and considering his background in software and finance, he has since assembled a team of highly talented developers who have since worked on a variety of projects like crypto exchanges and blockchain architecturing. Now, he balances his time between trading and commenting on both the FX and crypto markets. He has worked with many publications including FX Street and Finance Magnates, which has helped him gain experience and also recognition across the industry. He loves to write and this passion has helped him to reach out across the FX and crypto industry. Right now, he works on his pet projects in the FX and crypto industry and spends his time writing and managing his blockchain team and helping it to reach higher.
