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【July】

47 OTC FX Traders in Japan－Trading Value in June of 1 Quadrillion 120 Trillion 9 Billion 700 Million Yen −22 July
According to the Over-The-Counter (OTC) Forex (FX) monthly preliminary report announced by The Financial Futures Trading Association of Japan on July 12, trading value traded by customers of 47 OTC FX traders in June was 1 quadrillion 120 trillion 9 billion 700 million yen (0.6 percent up from May and 13.7 percent up year on year). Trading value in short positions at the end of June was 4 trillion 536 billion 400 million yen, trading value in long positions at the end of June was 4 trillion 118 billion 900 million yen, and 8 trillion 655 billion 300 million yen in total (1.8 percent down from May and 3.0 percent down year on year). Japanese
TFX Established Its Subsidiary for Credit Risk Trading Business −12 July
Tokyo Financial Exchange (TFX) established its subsidiary for credit risk trading business“Credit Risk Management Platform Inc.” on June 26.
The purpose is improving liquidity regarding credit risk trading such as loan receivable transfer transaction between financial institutions. TFX will introduce the business to each financial institution from around October, and then, it will begin offering the business in April 2025. Initial capital of the subsidiary is 400 million yen and it is a wholly owned subsidiary of TFX.
The office is located within TFX（1－8－2, Marunouchi, Chiyoda-ku, Tokyo）and operates with a small number of employees. Officers have not yet been announced. Japanese
Former President of Tokyo Grain Exchange Lectured Rice Futures Scheduled to Launch in August at the University of Tokyo −10 July
Mr. Yoshiaki Watanabe who is the former president of Tokyo Grain Exchange (TGE)－that was dissolved in 2013－lectured rice futures transaction scheduled to launch on Dojima Exchange (ODEX) in August to students of the Faculty of Economics at the University of Tokyo on July 10.
He served as the administrative Vice－Minister of Agriculture, Forestry and Fisheries (MAFF) which has jurisdiction over the domestic commodity futures industry, and he was the president of TGE when it started its rice futures transaction as trial listing once.
In the lecture, he mentioned a wide variety of things such as the history of rice futures that was the first public derivatives transaction in the world in 1730 and its product characteristics.
JTFE June Trading Volume of 21 Million 20 Thousand, 21.1 % Up from May −04 July
Tokyo Financial Exchange (TFE) trading volume in June was 2,315,198 of Exchange FX“Click 365”(4.2 percent down from May, 15.8 percent down year on year), among them, Click 365 Large was 2,565. Total trading volume in June was 21,020,450 (21.1 percent up from May, 27.4 percent down year on year) and average daily trading volume was 1,051,023.
Total trading value was 2 trillion 509 billion 900 million yen, and for each currency pair among them, the top was 795 billion 200 million yen of USA/JPY. The following was 575 billion 800 million of MXN/JPY and 188 billion 100 million yen of AUD/JPY.  Japanese
June Trading Volume of Commodity Futures in Japan of 1 Million 630 Thousand, 34.5% Down From May −03 July
As for June trading volume of 36 products listed on the commodity futures exchanges in Japan, Osaka Exchange was 1,353,065 (37.5 percent down from May), Tokyo Commodity Exchange (TOCOM) was 119,933 (1.0 percent down), Dojima Exchange was 157,697 (22.5 percent down) and 1,630,695 (34.5 percent down).
In terms of trading volume for each product, the precious metals of Osaka Exchange ranked first to third. The first place was 653,896 of standard gold (36.5 percent down from May), the second place was standard platinum of 236,078 (33.8 percent down) and the third place was 159,339 of mini gold (18.4 percent down). Japanese
First Announcement of Rice Price Index－June index value of 15,634 yen −03 July
On June 28, Dojima Exchange(ODEX) began announcement of “Japanese Rice Price Index”－JRPI－that becomes estimated market price of rice index futures market scheduled to start in August and calculated the index for this June at 15,634 yen.
Target of the rice index futures market isn’t specific production area brands that were targeted in the previous rice futures market but national wide average rice price for staple food, therefore, ODEX designed to make it easy for rice farmers and dealers in all regions to participate. JRPI is a reference value of average rice price, and by announcement of JRPI at the end of each month and by linking the index to rice price, trading participants can intuitively image the market price. Japanese
Rice Futures Scheduled to Start in August −01 July
The Minister of Agriculture, Forestry and Fisheries(MAFF), Tetsushi Sakamoto held a press conference after the cabinet meeting on June 21, concluded “It conforms to the approval standards and it is also appropriate to approve” regarding rice futures applied by Dojima Exchange(ODEX), and notified ODEX of the approval through MAFF in the afternoon on the same day. English
New Executive Structure of ODEX－Executive Director of SBI Securities Appointed as Director −28 June
Dojima Exchange(ODEX) held its general meeting and board of directors on June 26, and approved the new executive structure, including the appointment of the executive director of SBI SECURITIES Co., Ltd., Hiroyuki Ogawa as a director. Mr. Wataru Ariga was appointed as president, and the auditor of SBI VC Trade Co., Ltd. and former Ministry of Finance employee, Katsumi Kitahara, and the managing executive officer, and the secretary general of Japan Security Token Offering Association and former executive director of Japan Investor Protection Fund, Koichi Hirata were appointed newly as outside directors.
The executive chairman, Tatsuo Shigemitsu and the outside director, Tatsuo Yamazaki remained. Japanese
The Futures Commodity Association of Japan－Chairman Inagaki Remains，Budget Scale of 150 Million Yen
The Futures Commodity Association of Japan(FCAJ), that is a self-regulatory organization in the commodity futures industry in Japan, held its general meeting on June 20 and approved new directors, changed income and expenditure budget, etc. in FY 2024 (April 2024－March 2025).
Regarding executive personnel affairs, the chairman, Ryuichi Inagaki (Lawyer) remained, and of the 12 directors and the 3 auditors, 2 people were newly appointed. Budget scale was expected to be 150 million yen based on membership fee income, and regarding expenses, business expenditure such as self-regulatory business was expected to be 70 million yen, administrative expenditure such as staff salary to be 80 million yen. Japanese
Permanent Listing of Rice Futures Has Been Realized－Unusually Quick 3 Years Since The Last Disapproval −21 June
On June 21, the Ministry of Agriculture, Forestry and Fisheries (MAFF) and the Ministry of Economy, Trade and Industry (METI) approved permanent listing of rice futures, that was applied by Dojima Exchange (ODEX) in this February,. In the morning on the same day, the joint meeting of Research Commission on Comprehensive Agriculture and Forestry Administration, and Agriculture and Forestry Division in Liberal Democratic Party (LDP) was held and agreed to approve the application. In the afternoon, the approval was notified to ODEX and the exchange announced the approval on its website at 5 p.m. It is expected to begin around this August.
The previous rice futures began on Tokyo Grain Exchange (TGE) and Kansai Commodity Exchange (ODEX at present) as trial listing respectively. However, due to financial difficulties at TGE, rice futures on TGE was transferred to ODEX in February 2013. After that, rice futures on ODEX went through four trial listings, August 2013, August 2015, August 2017 and August 2019, and then, although ODEX applied for its permanent listing in August 2021, it was disapproved. Japanese
47 OTC FX Traders in Japan－Trading Value in May of 1 Quadrillion 113 Trillion 192 Billion Yen −24 June
According to the Over-The-Counter (OTC) Forex (FX) monthly preliminary report announced by The Financial Futures Trading Association of Japan, trading value traded in May by customers of 47 OTC FX traders was 1 quadrillion 113 trillion 192 billion 200 million yen (18.1 percent up from April and 22.2 percent up year on year). Trading value in short positions at the end of May was 4 trillion 2 billion 900 million yen, trading value in long positions at the end of May was 4 trillion 813 billion 400 million yen, and 8 trillion 816 billion 300 million yen in total (1.5 percent up from April and 0.7 percent down year on year). Japanese
Wataru Ariga, Operating Officer Becomes New President of ODEX −14 June
Dojima Exchange (ODEX) announced personnel on June 11 in which the operating officer, Wataru Ariga will become the next president in place of the current president, Masashi Murata.
Mr. Ariga was from The Norinchukin Bank, served as its executive officer, etc., joined ODEX as operating officer in February this year, and 62 years old now.
ODEX, that became a company limited in April 2021, applied for permanent listing of rice futures in July 2021 under the first president at that time, Kazuhiro Nakatsuka who was the former minister of finance, however, it was disapproved for political reasons. Mr. Masashi Murata who was from SBI Securities and took over as president of ODEX in June 2022 achieved the listing of precious metals such as gold, silver and platinum, and will pass the baton of president to Mr. Ariga.  Japanese
CFAJ Added 1 Member to 36 Members −13 June
The Commodity Futures Association of Japan (CFAJ), that is a regulatory organization in the commodity futures industry in Japan, announced on May 30 that Dukascopy Japan K.K.(Ginza Square 6F, 2－14－4, Ginza, Chuo-ku, Tokyo, Representative of directors・Noriyuki Fujita, Veronica Duca and Dmitri Kugel ) became a member of CFAJ as over-the-counter derivatives trader.
The company was founded in May 2009 as a wholly owned subsidiary of Dukascopy Bank SA in Switzerland, and has a qualification of type I financial instruments business operator. Japanese

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