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The Financial Futures Association of Japan Publication date : 31 , August , 2016 Quarterly Statistic Report on the financial futures Transactions in Japan First Quarter (April~June 2016) Ⅰ.Membership and Number of members reported Number of members reported DD,MM,YYYY Total On-Exchange Membership Domestic Over-The-Counter Overseas Margin FX Margin FX 31,June,2016 141 125 51 43 22 31 100 31,March,2016 142 125 51 43 22 31 99 52 Change -1 ±0 ±0 ±0 ±0 ±0 +1 -1 51 Margin FX = Retail FX Margin Trading Ⅱ.Trading Volume Geographical distribution of Trading Volume (Domestic , Overseas) On-Exchange Domestic Date Overseas Over-The-Counter (domestic) Margin FX 1 contracts 1 contracts Apr~Jun 2016 18,203,960 Jan~Mar 2016 23,071,333 -21.0% Change Margin FX 1 contracts 1 contracts 100 million Yen 100 million Yen 12,857,520 11,667,128 5,346,440 11,607,945 11,553,656 17,092,792 15,144,600 5,978,541 15,467,276 15,413,681 -24.7% -22.9% -10.5% -24.9% -25.0% Trading Volume by instruments Interest rate contracts Market Domestic Futures Foreign exchange contracts Overseas Options Futures Domestic Options Futures Overseas Options Futures Options Margin FX On-Exchange OTC 1 contracts 1 contracts 1,190,392 0 1 contracts 1 contracts 4,627,323 655,828 1,948,192 0 4,975,917 954,648 -7.0% -31.3% 1 contracts 1 contracts 1 contracts 1 contracts 1 contracts 11,667,128 11,667,128 0 56,939 6,350 15,144,600 15,144,600 0 46,106 1,870 +23.4% +239.5% -38.8% - -22.9% -22.9% - 100 million yen 100 million yen 100 million yen 100 million yen 100 million yen - - 11,569,292 11,553,656 38,653 - - 15,426,280 15,413,681 40,995 - - -25.0% -25.0% -5.7% Upper cell: 1th quarter, FY2016 Middle cell: 4th quarter , FY2015 Lower cell:Rates of change from middle cell to upper cell This publication has been prepared by the FFAJ and is provided for information purpose only. The quarterly information contained in this publication has been obtained from FFAJ's members that is believed to be reliable, however the FFAJ does not represent or warrant that it is accurate or complete. In no event the FFAJ nor its employees have any liability for any consequential damages arising from any use of this publications or its contents. This publication does not constitute any investment advice. 1 Domestic Exchanges and Overseas Exchanges -Trading Volume ・Customers' Account Interest rate contracts Domestic Date Futures Foreign exchange contracts Overseas Options Futures Domestic Futures Options Overseas Options Futures Options Margin FX 1 contracts 1 contracts 1 contracts 1 contracts Apr~Jun 2016 954,515 0 869,816 42,750 Jan~Mar 2016 1,602,261 0 904,089 14,544 -40.4% - -3.7% +193.9% -22.9% Change 1 contracts 1 contracts 1 contracts 1 contracts 1 contracts 11,665,889 11,665,889 0 43,055 0 15,143,531 15,143,531 0 34,572 0 -22.9% - +24.5% - ・Propriety Account Interest rate contracts Domestic Date Futures Foreign exchange contracts Overseas Options Futures Domestic Futures Options Overseas Options Futures Options Margin FX Apr~Jun 2016 1 contracts 1 contracts 1 contracts 1 contracts 1 contracts 1 contracts 1 contracts 1 contracts 1 contracts 235,877 0 3,757,507 613,078 1,239 1,239 0 13,884 6,350 Jan~Mar 2016 345,931 0 4,071,828 940,104 1,069 1,069 0 11,534 1,870 Change -31.8% - -7.7% -34.7% +15.9% +15.9% - +20.3% +239.5% Ⅲ.Open positions Geographical distribution of Open positions (Domestic , Overseas) On-Exchange Domestic DD,MM,YYYY Overseas Over-The-Counter (Domestic) Margin FX Margin FX 1 contracts 1 contracts 1 contracts 1 contracts 100 million Yen 100 million Yen 31,June,2016 5,961,264 2,069,292 1,688,141 3,891,972 133,382 39,660 31,March,2016 6,457,642 2,621,415 2,281,454 3,836,227 161,281 57,333 -7.6% -21.0% -26.0% +1.4% -17.2% -30.8% Change Open positions by instruments Interest rate contracts Market Domestic Futures Foreign exchange contracts Overseas Options Futures Domestic Options Futures Overseas Option Futures Options Margin FX On-Exchange OTC 1 contracts 1 contracts 1 contracts 1 contracts 1 contracts 1 contracts 1 contracts 1 contracts 1 contracts 381,151 0 3,294,488 586,850 1,688,141 1,688,141 0 5,934 4,700 339,961 0 3,324,153 505,473 2,281,454 2,281,454 0 5,731 870 +12.1% - -0.8% +16.0% -26.0% -26.0% - +3.5% +440.2% 100 million yen 100 million yen 100 million yen 100 million yen 100 million yen - - 49,360 39,660 84,021 - - 63,088 57,333 98,192 - - -21.7% -30.8% -14.4% Upper cell=date: 30,06,2016 Middle cell=date: 31,31,2015 Lower cell:Rates of change from middle cell to upper cell This publication has been prepared by the FFAJ and is provided for information purpose only. The quarterly information contained in this publication has been obtained from FFAJ's members that is believed to be reliable, however the FFAJ does not represent or warrant that it is accurate or complete. In no event the FFAJ nor its employees have any liability for any consequential damages arising from any use of this publications or its contents. This publication does not constitute any investment advice. 2 Ⅳ.Summaries on Retail FX Margin Trading Market DD,MM.YYYY Trading Volume * ①Open Positions ②Margin deposit Customers’ (customers) Margin Rate The number of Active customers' TFX (click365) OTC 100 million Yen 100 million Yen 100 million Yen =①/② 30,Jun,2016 112,663 15,297 4,395 3.4 27,789 31,Mar,2016 157,206 24,393 5,051 4.8 27,432 Change -28.3% -37.2% -13.0% -1.4 +1.3% 30,Jun,2016 11,553,656 39,660 11,836 3.3 747,554 31,Mar,2016 15,413,681 57,333 12,747 4.5 747,367 -25.0% -30.8% -7.1% -1.2 +0.0% 30,Jun,2016 11,666,320 54,957 16,231 3.3 775,343 31,Mar,2016 15,570,888 81,726 17,799 4.6 774,799 -25.0% -32.7% -8.8% -1.3 +0.0% Change Total accounts Change * “Trading Volume” is the total of the quarter (Reference Data) Total Trading Volume of Financial Futures contracts from April to June On-Exchange Business Domestic year Over-The-Counter (domestic) Overseas Margin FX Margin FX 1 contracts 1 contracts 1 contracts 1 contracts 100 million Yen 100 million Yen 2016FY 18,203,960 12,857,520 11,667,128 5,346,440 11,607,945 11,553,656 2015FY 17,136,932 10,892,049 9,749,881 6,244,883 14,277,789 14,224,538 Change +6.2% +18.0% +19.6% -14.3% -18.6% -18.7% Total Trading Volume of Retail FX Margin contracts from April to June Business year TFX (click365) 100 million Yen Over-The-Counter 100 million Yen Total 100 million Yen 2016FY 112,663 11,553,656 11,666,320 2015FY 112,860 14,224,538 14,337,398 Change -0.1% -18.7% -18.6% Overview The overall trading volume of financial futures transaction during this term sharply dropped compared to the previous term. Trading volume of On-exchange financial futures transactions decreased by 21.0% and OTC financial futures transactions declined by 24.9% for a sluggish FX margin trading. While the overall trading volume in the current term decreased, the trading volume of currency related transactions in the overseas exchange grew steady. Of the currency related OTC transactions, in particular, the currency related option transaction declined by modest 5.7% compared to the previous term. Open position of the overall FX margin trading transactions at the end of the first quarter was down due to Brexit shock. On the other hand, the open interest both of on-exchange currency related options and interest related options increased from the previous term. *For the FX margin trading status, please refer to the Monthly Statistical Bulletin on FX Margin Trading. This publication has been prepared by the FFAJ and is provided for information purpose only. The quarterly information contained in this publication has been obtained from FFAJ's members that is believed to be reliable, however the FFAJ does not represent or warrant that it is accurate or complete. In no event the FFAJ nor its employees have any liability for any consequential damages arising from any use of this publications or its contents. This publication does not constitute any investment advice. 3 【Note】 ・Trading volume and open positions of over-the-counter financial futures transactions are based on the yen converted value of quarterly trading volume (in units) multiplied by the number of contracts. ・FFAJ converts the amounts of trading volume and open positions denominated in a foreign currency into JPY based on the value of each currency against the yen spot rate published by the Bank of Japan on the last day of the quarter. For currencies which do not have a yen spot rate published by the Bank of Japan, FFAJ uses the yen spot rate published by the central bank of the country which controls the said currency. In the event a currency does not have a published yen spot rate, the numerical value derived from multiplying the U.S. Dollar spot rate of the said currency by the U.S. Dollar/JPY spot rate published by the Bank of Japan is used as the yen equivalent value. ・The monetary value of options trading and open positions are based on the monetary value of option contracts (notional amount). In the case of binary options, the contract amount is the payout amount. ・The number of units of, trading volume and open position of on-exchange transactions are totaled based on the amount reported by the FFAJ, which is partially converted into yen on the FFAJ's standard rate. Therefore the trading volume etc. typically does not equal the amount published by each exchange. ・ Trading volume of on-exchange transactions includes the association member’s intermediary transactions with customers and other financial instruments brokers (including agency trading) established by other financial instruments brokers. ・Trading volume and open position (or interest) of on-exchange transactions shall exclude market-making transactions, transactions among the financial instruments brokers, and over-the-counter financial futures transactions with the persons provided in (1) or (2) of Article 1-8-6.1 of the Financial Instruments and Exchange Act Enforcement Order. ・Trading volume of over-the-counter contracts is based on the sum of transactions made by FFAJ members with customers. Cover transactions and other self-dealing transactions conducted by members for the purpose of hedging risk are excluded from this figure. ・Over-the-counter FX margin trading volume is calculated by multiplying the quarterly trading volume by the yen exchange rate on the last day of the quarter. Therefore, the total monetary value and trading volume from the same period in the “Monthly Statistical Bulletin on Over-The-Counter Retail FX Margin Trading” of the Association (yen-converted value) does not accord with this report. ・The separately published“Monthly Statistical Bulletin on Over-The-Counter Retail FX Margin Trading” is a summary carried out through the cooperation of Association members who are willing to contribute. It does not represent a summation of the total trading volume or open positions of all Association members who engage in over-the-counter retail FX margin trading. On the other hand, this quarterly report was drafted based on “Financial Futures Trading Record Report” of all members. Therefore, the sum of the values from the same period in the “Monthly Statistical Bulletin on Over-The-Counter Retail FX Margin Trading” does not match those contained in this report. ・In this report, “0” is used to represent aggregate results of nil or less than a unit, while “-” is used to represent that aggregate results are unavailable. ・Unit fractions are, in principle, rounded off. ・“Futures” include FXA (Foreign Exchange Agreements). This publication has been prepared by the FFAJ and is provided for information purpose only. The quarterly information contained in this publication has been obtained from FFAJ's members that is believed to be reliable, however the FFAJ does not represent or warrant that it is accurate or complete. In no event the FFAJ nor its employees have any liability for any consequential damages arising from any use of this publications or its contents. This publication does not constitute any investment advice. 4