GMO Click to offer trading with TRY/JPY contracts on Click365

GMO Click Securities, a subsidiary of GMO Click Holdings Inc (TYO:7177), has announced the pending addition of Turkish lira vs Japanese yen (TRY/JPY) contracts to the trading instruments lineup on Click365.

The launch is scheduled for May 11, 2015, and comes along with the Japanese Forex giant’s efforts to beef up the menu of instruments traded on exchange.

In the press release on the matter, GMO Click puts the stress on the recent volatility of the Turkish lira and on the interesting trading opportunities this currency may offer, especially when teamed up with the Japanese yen.

A recent analysis by LeapRate has shed some light on the fortunes of the Turkish currency. The TRY has lost ground with the weakening currency creating an uptick in inflation measures and economic growth falling below government forecasts. Despite the pickup in inflation, the central bank has been under political pressure to cut rates further to propel economic indicators but so far has been reluctant to do so as to not make the situation worse. They are very much in a wait and see mode, at the last rate decision, the Turkish central bank left the rate unchanged at 7.5% which is right in line with the latest official inflation measures.

GMO Click is definitely not the single Forex market participant to have considered TRY instruments as an interesting addition to its product lineup. In January 2015, Intercontinental Exchange Inc (NYSE:ICE) introduced TRY/USD and TRY/EUR contracts on ICE Futures U.S. And in March 2015,  Moscow Exchange added Forex futures for USD vs TRY to its menu of trading instruments.


TRY/JPY chart for the last three months. Photo credit: Bloomberg.

To view the official announcement by GMO Click, click here.

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