Kabu’s FX Volumes Retreat in May as JPY Stagnates

Volumes retreated in May as a lack of JPY movement influenced overall trading activity.

Kabu.com, a subsidiary of Mitsubishi UFJ (MUFJ), has reported its preliminary results for its trading volumes and metrics for May 2017. The latest results encompass both futures and options, which saw a retreat that threatened 2017 lows – the primary culprit of this move was the stagnation of the Japanese yen, which was held to a narrow trading range during the month.

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During May 2017, Kabu’s futures and options volumes resumed a downtrend that has been intact since March this year – on the whole, H1 2017 has been devoid of any major jumps in volumes however. The Japanese yen was unable to register much change against most majors during May, namely the USD, which impacted and ultimately constrained the level of trading volumes at the Japanese exchange this month – trading days in May 2017 were unchanged at 20 relative to the month prior.

Looking specifically at trading volumes for May 2017, the latest figures came in at ¥36.2 billion ($327.5 million), a fall of -2.9 percent month-over-month from ¥37.3 billion ($337.4 million) in April 2017. Moreover, over-the-counter (OTC) FX trading accounts also notched a marginal climb in May 2017, inching higher to 88,669 accounts, virtually unchanged month-over-month from 88,344 accounts in April 2017 – accounts have been held to a tight consolidation in H1 2017, though have risen 2.4 percent year-to date.

The performance of Kabu’s volumes on a month-over-month basis in each of these segments will largely be driven by the direction and movement of the yen moving forward in June.

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