FFAJ Reports Second Consecutive Fall in Monthly OTC Forex Trading Volumes in July 2018

The Financial Futures Association of Japan (FFAJ) on Tuesday published the monthly statistics report for Over-the-Counter (OTC) retail forex margin for the month of July. Going with the trend of falling volumes across exchanges across the globe, the FFAJ also reported a decline in volume in July 2018, following a weak June this year.

The self-regulatory body established in 1989 which governs the Japanese futures market witnessed total OTC FX trading volume of $2.7 trillion (JPY 301 trillion) amongst its member which is down by 7.61 per cent from June’s volume at  $2.93 trillion (JPY 326 trillion).

In the month June also, the volumes were 12 per cent lower compared to $3.34 trillion (JPY 371 trillion) volume in May. The total trading volume for the month of July for USDJPY, cross yen, was $2.38 trillion (JPY 265 trillion) which is also dropped by 5.8 per cent compared to the previous month. However, the volume for on-exchange contracts increased month-on-month in July and total trading volume coming in at $21.8 billion (JPY 2.42 trillion), up 1.77 per cent from June’s volumes of $21.3 billion (JPY 2.37 trillion).

The open positions in the month of July were $62.3 billion (JPY 6.93 trillion) which is slightly lower compared to June 2018 volumes. The total short position in the month of July was $25.6 billion (JPY 2.85 trillion), up by $886.6 million (JPY 98.5 billion). The total long positions in July fell month-on-month, coming in at $36.7 billion (JPY 4.08 trillion).