The Tokyo Financial Exchange (TFX), which operates multiple trading venues, published the monthly trading volume figures for July 2021, reporting a month-over-month decline in forex trading demand, but a significant surge of activities in the equities market.
Click 365, which is the FX venue of the TFX, has ended the month with a total trading volume of FX Daily Futures contracts at 1,988,246. This is a 6.2 percent decline from the previous month, but 6.1 percent strong when compared year-over-year. The average daily volume on the platform came in at 90,376 contracts.
Click 365 is one of Japan’s largest FX derivatives platforms. Though the latest figure dipped from the previous month, the gain from the last year is significant and shows the cyclical overall strengthening of the market.
Top Pairs Dip, but Others Out-Performed
Further, the TFX detailed that the US dollar-Japanese yen pair remained the most traded currency pairs on the platform as 430,514 contracts changed hands last month, followed by Mexican peso-Japanese yen and South African rand-Japanese yen. Though the trading volume with the top three currency pairs dipped compared to the previous month, trading with the British pound, Australian dollar and New Zealand dollar surged significantly.
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The British pound-Japanese yen and Australian dollar-Japanese yen witnessed a surge in trading activities by 34.1 percent and 21.3 percent, respectively, while the New Zealand dollar-Japanese yen volume gained by 26.9 percent and 101.8 percent month-over-month and year-over-year, respectively. Trading volume with ‘other currency pairs’ also had a monthly jump of 20.3 percent and a yearly gain of 44.6 percent.
In the equities market, the total trading volume of Equity Index Daily Futures contracts skyrocketed as it jumped by 48.1 percent when compared to June and 378 percent from July 2020. The TFX operates Click Kabu 365 as its equities futures exchange.
“Combined trading volume for all TFX products was 12,995,718 ( +46.0% MoM / +392.2% YoY ) and its average daily trading volume was 590,726,” the Japanese exchange stated.