The Japanese FX industry is a veritable leviathan. The nation’s traders account for between 35% and 40% of the trading volume worldwide, and two Japanese firms just last month posted monthly volumes amounting to an astonishing $1 trillion each.
Following a networking event and drinks at the summit’s venue, Tokyo’s Mandarin Oriental Hotel last night, the event began this morning at 8.30 when attendees, delegates and sponsors alike, attended registration and entered the exhibition.
Forex Magnates Summits, as well as the iFXEXPO events are well recognized for bringing the industry’s senior executives together in dialog which contributes to moving the industry forward as a whole, and the Tokyo Summit – the first of its kind – maintains that methodology by commencing the first panel discussion at 10.00 am.
This particular panel comprised Japanese industry experts, including Shinji Tashiro, Alpari Japan’s CEO, Tsuru Yashuhara, FXTF’s President and CEO, Yasuji Yamanaka, CEO of Ascendant Incorporated, Takuya Suzuki, Director of CyberAgentFX, Yoichi Miura, Cross Bridge Ltd’s CEO and Kazunori Hatakeyama, CEO of Travis Consulting Ltd.
Room For More?
Japan certainly has its share of domestic firms, with FX being such a prominent industry in the nation, however during the panel at 10.00 am, the subject of debate centered on whether overseas platform providers view Japan as a potentially viable market, and if they are able to gain share.
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A 45 minute discussion, giving way to a break and chance to view the exhibition for half an hour, this panel was followed by the second discussion of the day.
This time conducted in English, senior industry figures from overseas discussed methods of approaching the Chinese FX market, a topic which is on the minds of many firms worldwide, but is not a task for the feint-hearted.
This panel consists of some of the most influential professionals in the Western FX industry, including Forex Magnates CEO Michael Greenberg; K Duker, Chief Executive Officer at OANDA Corporation; Drew Niv, CEO and co-Founder of FXCM; Leon Yohai, CEO of Zulutrade; Daniel Skowronski, CEO at Alpari UK and Ilya Sorokin, President and CEO of ActForex.
After lunch, the afternoon’s events involved further discussions on whether Japanese brokers, intrinsically very much home-market orientated, can expand overseas and the methods by which it is possible to do so, followed by opinions from Japanese professionals on the challenges relating to provision of institutional liquidity.
Presentations were made during the late afternoon, including tradable and Monex CEOs addressing the Summit’s delegates, and also a half hour focus on the most exciting technology start-ups.
We’ll continue updating as the event will draw to conclusion later today, Tokyo time.