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.