Japanese Forex broker Rakuten Securities, a subsidiary of Rakuten Inc (TYO:4755), today unveiled plans to launch trading in the Turkish lira vs Japanese yen (TRY/JPY) pair.
The new addition is poised to be available for OTC trading from late August this year. The pair will be on the menu of currency instruments on various platforms run by Rakuten, including Market Speed FX, RakutenFX Web, as well as the respective mobile applications like iSpeed FX.
Rakuten is not the first Japanese Forex broker to pay attention to this currency pair. In May this year, GMO Click made the currency pair available for trading via Click365.
Traders’ interest in TRY has been recognized by other Forex platforms too. In January 2015, Intercontinental Exchange Inc (NYSE:ICE) launched TRY/USD and TRY/EUR contracts on ICE Futures U.S. And in March this year, the Moscow Exchange introduced Forex futures for USD vs TRY.
TRY/JPY chart since start of 2015. Chart source: Barchart.
To learn more about Rakuten’s offer, click here.