FFAJ’s Binary Trading Volumes Rebound Sharply in June on Brexit Volatility

The FFAJ saw its total monthly retail trading volume in June snap 4 straight months of falling figures.

The Financial Futures Association of Japan (FFAJ) has released its over-the-counter (OTC) binary options figures for the month ending June 2016, which saw a strong growth MoM in trading volume after four straight months of diminishing figures, according to an FFAJ report.

The latest batch of monthly metrics help allay a downtrodden H1 2016, which was largely similar to that of other exchanges. June 2016 did experience one notable exception to other months, which featured the Brexit vote and subsequent unexpected result, helping fuel volumes in ways not seen since the Swiss National Bank (SNB) decision of January 2015.

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Looking at the figures, the FFAJ saw its total monthly retail trading volume come in at $392.08 million (¥41.05 billion), which correlated to a strong rise of 26.3% from just $290.48 million (¥30.41 billion) in May 2016. June’s figures are also the highest since February 2016, when the group reported a yearly peak. Despite the strong growth over a monthly interval, FFAJ’s YoY snapshot is in the red, falling -7.0% YoY from $421.6 million (¥44.13 billion) in June 2015.

In terms of existing accounts, the FFAJ yielded a figure of 346,292 for the month of June 2016, compared with 344,396 accounts in May 2016, corresponding to a marginal gain of less than 1.0% MoM, despite striking an all-time high. By extension, the group’s active accounts also grew to 12,676 in June 2016 from 11,880 in May 2016, or 6.7% MoM, paring losses in this space over the past two months.

Currency Breakdown

During June 2016 with Brexit in full focus, the FFAJ’s volumes were largely reflective of this event, given the surge in GBP trading for the month. The largest gain of any currency pair in June 2016 was the GBP/JPY, which swelled to a volume of $110.52 million (¥11.57 billion) from just $43.18 million (¥4.52 billion) in May 2016, relating to a jump of 156.0% MoM.

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