Results of Turnover Survey of Tokyo FX Market (PDF Download)
July 26, 2010
(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 fifth annual survey covering foreign exchange transactions in the Tokyo market in April 2010.
In this period, although the international financial market turmoil which followed the collapse of Lehman Brothers has calmed down, worries on structural problems in euro areas, mainly focusing on fiscal issues, have newly emerged, and 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 20 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
Atsushi Takeuchi, Mr. (Financial Markets Department, Bank of Japan)
Phone: 81-3-3277-3543
E-Mail: atsushi.takeuchi@boj.or.jp
<Annex>
The TFEMC conducts annual survey on foreign exchange market and on OTC derivatives market. This report shows the turnover of each market in April 20101. This survey covers 20 financial institutions and summarizes three types of foreign exchange transactions, and one type of derivatives2. Similar type of surveys are also conducted and published by overseas foreign exchange market committees.
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
Credit Agricole Corporate and Investment Bank, Tokyo Branch
The Chuo Mitsui Trust and Banking Co. Ltd.
Citibank Japan Ltd.
Deutsche Securities Inc.
Goldman Sachs (Japan) Ltd.
J.P. Morgan Chase Bank, N.A.
Mitsubishi UFJ Trust and Banking Corporation
Mizuho Bank, Ltd.
Mizuho Corporate Bank, Ltd.
Nomura Securities Co., Ltd.
The Royal Bank of Scotland PLC, 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
1 From 2010, TFEMC changed the reporting basis from the trading-desk basis to the sales-desk basis, same as that of the BIS Triennial Central Bank Survey of Foreign Exchange and Derivatives Market Activity (BIS Survey). TFEMC also sophisticated some reporting forms in order to collect more appropriate figures from reporting dealers.
2 (1)foreign exchange cspot, foreign exchange swap, forward @(2)derivatives ccurrency option
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