Results of Turnover Survey of Tokyo FX Market (PDF Download)
July 27, 2009
(Tokyo Foreign Exchange Market Committee)
Tokyo Foreign Exchange Market Committee (TFEMC) today released the results of its Turnover Survey of Tokyo FX Market (Tokyo FX Survey). This is the fourth annual survey covering foreign exchange transactions in the Tokyo market in April 2009.
The failure of Lehman Brothers in September 2008 accelerated the deterioration in financial market conditions, leading to a global financial crisis. This has had a significant impact on the Tokyo foreign exchange market.
The TFEMC conducted this survey in order to provide the updated picture of the Tokyo foreign exchange market on both accurate and timely manner for the better understanding of recent trends by market participants; thereby contributing to sound growth of the market. The TFEMC will continue Tokyo FX Survey in the future on an annual basis.
To achieve a representative survey, the TFEMC invited 21 leading financial institutions active in the Tokyo foreign exchange market (as listed below). In conducting this survey, Financial Markets Department of the Bank of Japan provided technical assistances in collecting and processing the data of respective respondents.
<Contacts>
Chairperson
Tokyo Foreign Exchange Market Committee
Akira Hoshino, Mr. (Global Markets Unit, Bank of Tokyo-Mitsubishi UFJ)
Phone: 81-3-6268-1160
E-Mail: akira_hoshino@mufg.jp
Vice Chairperson
Tokyo Foreign Exchange Market Committee
Hokuto Nakano, Mr. (Forex Division, Mizuho Corporate Bank)
Phone: 81-3-3201-5602
E-Mail: hokuto.nakano@mizuho-cb.co.jp
Secretary
Tokyo Foreign Exchange Market Committee
Keiichi Miyata, Mr. (Financial Markets Department, Bank of Japan)
Phone: 81-3-3277-3543
E-Mail: keiichi.miyata@boj.or.jp
<Annex>
While the data released here is similar in nature to that collected by the BIS Triennial Central Bank Survey of Foreign Exchange and Derivatives Market Activities (BIS Survey), they are not directly comparable with each other due to differences in the reporting methodology. The basis of reporting for Tokyo FX Survey is the location of the price-setting dealer. However, for the 2007 BIS Survey, basis of reporting was the location of the sales desk of the trade. Similar surveys have been conducted for major international trading centers by respective regional foreign exchange committees, and their most recent results are released.
Reporting Financial Institutions
Bank of America, N.A.
The Bank of Tokyo-Mitsubishi UFJ, Ltd.
Barclays Bank PLC, Tokyo Branch
BNP Paribas Bank, Tokyo Branch
Calyon
The Chuo Mitsui Trust and Banking Co. Ltd.
Citibank Japan Ltd.
Deutsche Securities Inc.
Goldman Sachs (Japan) Ltd.
JPMorgan Chase Bank, N.A.
Merrill Lynch Japan Securities Co., Ltd.
Mitsubishi UFJ Trust and Banking Corporation
Mizuho Bank, Ltd.
Mizuho Corporate Bank, Ltd.
Nomura Securities Co., Ltd.
The Royal Bank of Scotland, Tokyo Branch
Societe General, Tokyo Branch
State Street Bank and Trust Company, Tokyo Branch
Sumitomo Mitsui Banking Corporation
The Sumitomo Trust & Banking Co., Ltd.
UBS AG, Tokyo Branch
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