This Thursday the Tokyo Financial Exchange (TFX) reported its latest trading volumes for October 2018. Following a disappointing August and mixed results for September, October did see a strong uptick in FX daily futures contracts.
The total Interest Rate Futures contracts (three-month Euroyen) traded in October was 114,555. This translates to a daily average volume (ADV) of 5,207 contracts. When compared to September of 2018, this is down 37.9 per cent. However, on a year-on-year comparison, October’s figure is up by 8.3% year-on-year.
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Taking a look at FX Daily Futures contracts (Click 365) traded on TFX the total trading volume was 2,658,139. The ADV for October was 115,571 contracts. Unlike September, this is up by 26.1 per cent month-on-month and 22.4 per cent year-on-year.
During October, Turkish Lira/Japanese Yen futures contracts traded on TFX saw the biggest uptick on a month-on-month basis, jumping by 58.3 per cent to reach 489,048 contracts. In terms of ADV, this was 21,263. On a year-on-year basis, the number of contracts traded also increased by 25.2 per cent.
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In September, this currency pair actually recorded the biggest month-on-month decline. This was most likely due to the instability of the Turkish Lira, which dipped considerably in August, remained low in September and began to strengthen in October.
In terms of the biggest month-on-month drop, British Pound/US Dollar takes the cake, falling by 22.7 per cent with 31,485 contracts traded during October. Contracts were also down by 5.4 per cent when compared to October 2017.
Conversely, in September, British Pound/US Dollar futures contracts saw the biggest monthly uptick with 40,718 (2,036 per day) contracts traded during the month. This was a significant 49.2 per cent increase from August, however, it was still down by 27.4 per cent from September 2017.
Equity Index Daily Futures contracts jump in October on TFX
In October, the total trading volume of Equity Index Daily Futures contracts traded on TFX (Click kabu 365) was 823,194, or an ADV of 35,815. In comparison with the previous month, this is up by 84.4 per cent. However, when compared to October 2017, the number of contracts traded was 12.1 per cent less.
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