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Futures Industry Association Japan (FIA Japan) has just released the September 2015 edition of its bimonthly newsletter, with the document revealing some interesting developments concerning the Forex market in Japan.
Tokyo Financial Exchange Inc. (TFX) has announced details regarding its new Forex offering, called “Click Large”.
TFX has disclosed detailed launch schedule and product specification of its new Exchange FX margin trading market. The launch date is set for November 30, 2015.
The new market will go live with 5 major currency pairs: USD/JPY, EUR/JPY, GBP/JPY, AUD/JPY, and EUR/USD.
The contract size will be 10 times larger than TFX’ current FX margin product (“Click 365”). The minimum tick size will be 0.1 pip (except for the EUR/USD pair), finer than the one for Click 365 (where it stands at 0.5 pip). Given this, TFX projects that investors will be able to trade the contracts in a more precise manner, reflecting their market views.
Quoting prices are expected to have narrower bid-ask spreads than those of Click 365, and that is why TFX anticipates that Click Large will attract a wide variety of participants that include overseas funds and proprietary trading firms.
To view the September 2015 Newsletter of FIA Japan, click here.