Volume Survey

Results of Turnover Survey of Tokyo Foreign Exchange Market

July 27, 2021
(Tokyo Foreign Exchange Market Committee)


The Tokyo Foreign Exchange Market Committee (TFEMC) today released the results of its Turnover Survey of Tokyo Foreign Exchange Market covering transactions in April 2021 (see attached tables).

The TFEMC conducts the survey in order to provide market participants with developments in the Tokyo foreign exchange (FX) market in an appropriate and timely manner, thereby contributing to the sound growth of the market. In conducting the survey, the Financial Markets Department of the Bank of Japan provides technical assistance in collecting and processing the data of respective respondents.

Turnover in April 2021 increased compared with the previous survey which covered transactions in October 2020. By trading transactions.


Tokyo Foreign Exchange Market Committee
NAKAMURA Naoto, Mr. (Global Markets Sales and Trading Division, MUFG Bank, Ltd)
Phone: 81-3-6214-4740
E-mail: naoto_2_nakamura@mufg.jp

Sub-Committee on Market Research
KUREDA Shinji, Mr. (Trading Department, Sumitomo Mitsui Banking Corp.)
Phone: 81-3-6706-8118

Tokyo Foreign Exchange Market Committee
SHIMIZU Yuki, Mr. (Financial Markets Department, Bank of Japan)
Phone: 81-3-3277-3543


The TFEMC actively conducts the turnover survey on the FX and OTC derivatives markets. The survey was conducted annually until 2011, covering FX transactions in April. From 2012, the survey has been conducted semiannually—in April and October—in order to grasp market developments in a more timely manner. This is the 25th survey since its inception in 2006.

Similar surveys are conducted and released by overseas FX market committees in London, New York, Singapore, Hong Kong, Sydney, and Canada.

Reporting Financial Institutions

Bank of America
MUFG Bank, Ltd
Barclays Bank PLC
BNP Paribas
Citibank, N.A., Tokyo Branch
Credit Agricole CIB
Deutsche Securities
Goldman Sachs Securities
J.P. Morgan Chase Bank
Mitsubishi UFJ Trust and Banking Corporation
Mizuho Bank
Nomura Securities
NatWest Markets Securities Japan, Ltd
Societe Generale
State Street Bank and Trust Company
Sumitomo Mitsui Banking Corporation
Sumitomo Mitsui Trust Bank
Australia and New Zealand Banking Group
Bank of New York Mellon
Commerzbank AG
Hongkong and Shanghai Banking Corporation
Morgan Stanley MUFG Securities
Nomura Trust and Banking
Norinchukin Bank
Resona Bank
Shinsei Bank
Standard Chartered Bank
Citigroup Global Markets Japan

Past Survey(PDF Download)

Results of Turnover Surveys covering transactions in October 2020(released on 26 Jan 2021) have been revised

Historical data

Historical volume data in Excel format (xlsx)