FX Trading on TFX Falls in February, Reversing January Gains

All individual segments of TFX products reported a fall in trading on a monthly and annual comparison.

The Tokyo Financial Exchange (TFX) has published its trading volumes for February of 2019 this Friday. Despite strong foreign exchange (forex) trading volumes in January, February reported a drop both month-on-month and year-on-year.

During the month of February, the combined trading volume for all TFX products was 2,294,704 contracts, with an average daily volume of 114,894. When comparing this to the previous month, this is down by 30.8 percent and on an annual comparison, the drop is even steeper at 38.4 percent.

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In fact, all individual segments of TFX products, which includes FX Daily Futures, Three-month Euroyen futures and Equity Index Daily Futures reported a slump in trading, with all falling on a monthly and annual comparison.

FX Trading Falls MoM and YoY on TFX

Taking a look at FX Daily Futures contracts (Click 365), the results for February were disappointing, especially when factoring in the strong performance of this segment in January.

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Specifically, total trading volume was 1,921,264 contracts in February. This is 32.1 percent less than the 2,831,223 contracts traded in the previous month. February’s figure is also a decline of 38.2 percent year-on-year.

Moving on to Three-month Euroyen futures, the results don’t look much better. During the month of February, the trading volume for this segment was 59,472 with an average daily volume of 3,130. This represents a fall of 49.5 percent from January and 52.0 percent from February of 2018.

Also today, the Tokyo exchange announced that it would extend its current discount program in Three-month Euroyen Futures until the end of March this year. You can learn more about the exact discounts here.

The final segment of this analysis is Equity Index Daily Futures (Click kabu 365), which achieved a total trading volume of 313,968 contracts and an average daily volume of 15,699 contracts.

Just like all of the other segments, this represents a downturn of 15 percent when measured against the previous month. The decline, when compared with February of 2018 is even steeper at 36.5 percent.

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