Despite the rapid increase in volumes which began in September and put an end to almost a year of adversity, the upward surge was relatively short lived, stabilizing in November.
Whilst this may have been the case for OTC giants such as Hotspot FX, exchange-traded FX is bringing further hope with Click365 today having announced a 2.4% increase over its October trading volumes in margin FX contracts on the Tokyo Financial Exchange during November 2014.
In terms of monthly percentage increases, 2.4% may not at first appear much to write home about, however when considering that October represented a month in which Click365 experienced an astronomical 24.2% increase over September’s volumes.
To improve on this in November, therefore, is indeed no mean feat.
The total trading volume of exchange FX Margin contracts on Tokyo Financial Exchange in November was 4,145,938, with average daily trading volume standing at 207,298 contracts.
This also represents a 65.7% increase compared with November 2013, the second month which heralded the beginning of a prolonged period of industry wide low volumes.
By contrast to the buoyant trading activity in Click365 margin FX contracts, Euroyen futures contracts took a substantial dive by 55%, reducing down to a daily average of 7,293 contracts in November this year, thus negating the 30.2% increase in Euroyen futures contract trading activity which occurred in October over September’s results.
An interesting observation is that it is clear to see that Japanese traders have not entirely given the EUR/JPY a wide berth during November, instead favoring exchange-traded spot transactions over futures contracts, with EUR/JPY activity on Click365 having increased by a substantial 20.9% over October, pushing the daily average to over 101,308 contracts.
This is a stark contrast to the downturn in three month Euroyen futures contracts.
For the official announcement from Tokyo Financial Exchange, click here.