Financial Futures Association of Japan (FFAJ) has released forex volume for March. The data suggested an increased activity in over the counter (OTC) binary options in the month. Significantly, the growth has come after a disappointing performance in the previous month.
Trading Volume Spikes
The FFAJ has released its monthly trading volumes for forex margin trading operators. This included the retail section and OTC dealers. The association’s data suggested that the Tokyo Financial Exchange’s OTC trading volume has hit $2.6 trillion or Yen 287.9 trillion. This represented a 17.38 percent increase in March over the preceding month. This removes the concerns of disappointing performance among forex brokers and traders in February.
There was no addition in no of trading operators of forex in OTC in March. Accordingly, the registered OTC forex margin trading operators are 54. This indicated that they had got a little impact on the overall performance in March.
USD/JPY sees demand
As far as the trading pair of USD/JPY, Cross Yen, the association report claimed a trading volume of Yen 249.4 trillion in March. This represented a growth of 17.22 percent from February and is more or less similar to the OTC trading volumes. There is also additional news to cheer the forex traders. The on-exchange contracts trading volume looked strong on a month-on-month basis. This is evident from the 12.89 percent increase seen in March to Yen 1.98 trillion from Yen 1.76 trillion in February.
Binary options integrated the trading volumes of eight members of the association. This included GMO Click Securities Co. The data suggest that these firms have witnessed increased activity in March.
Binary Options shows upmove
As far as binary options trading volume, the association reported a modest increase in trading in March relative to the weakness seen in February. However, it is still below the levels seen in January.
The trading volume of binary options has hit Yen 31.8 billion in March, while it was Yen 29.3 billion in February. This represented a month-on-month growth of 8.5 percent. Still, the trading volume is weaker than the Yen 35 billion seen in the first month of the current year.