With volumes in the doldrums, Tokyo Financial Exchange extends Euroyen futures discount

Tokyo Financial Exchang (TFX) has determined to extend Three-month Euroyen Futures Discount Program for a further six months from 1 April 2015 to 30 September 2015.

The popularity of the Euroyen futures contract has dwindled tremendously over recent months, contrasting dramatically against the high volumes which were traded in Click 365 margin FX contracts at Tokyo Financial Exchange during the latter part of 2014.

After the high periods of September and October during which the majority of the FX industry experienced volumes which signified the end of a nine month low, Click 365 FX contracts at Tokyo Financial Exchange dipped by a mere 3.5% MoM in December, making for a healthy month considering November’s buoyancy, whilst three month euroyen futures remained on continual decline.

Three month Euroyen futures trading volume reduced down to a daily average of 5,478 contracts in December, compared to 7,293 contracts in November 2014, thus further negating the 30.2% increase in Euroyen futures contract trading activity which occurred in October over September’s results.

The discount program which is now being extended means that TFX Members registered on this program shall be eligible for a discount of up to 90% on their trading fees in Euroyen Back Months and Strips executed through Block Trade functions based on the fee schedule set out in the table below:

Additionally, TFX appointed a market maker to improve liquidity in back contract months which applies to Quarters 7 and beyond.

To view the official announcement from TFX, click here.

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