Tokyo Financial Exchange
| Tokyo Financial Exchange | |
| |
| Founded | 1989 |
|---|---|
| Headquarters | Tokyo, Japan |
| Key People | Nobuyuki Kinoshita, President & CEO |
| Products | Interest rates, forex |
| Website | https://www.tfx.co.jp/en/ |
The Tokyo Financial Exchange (TFX) offers futures contracts on short-term yen-denominated interest rates, yen-based forex cross rates and equity index futures.[1]
In 2021, Tokyo Financial Exchange was ranked 28th largest in terms of derivatives volume, according to the Futures Industry Association's annual volume survey with 67.76 million contracts traded, up 36.39 percent from a year earlier.
Background[edit]
The exchange was established in April 1989 under the Financial Futures Trading Law of Japan.[2] Because the Financial Futures Trading Law was abolished and the Financial Instruments and Exchange Law was enforced in September 2007, TFX transformed from a financial futures exchange into a more comprehensive financial exchange that handles any type of financial products.[3]
In 2007, TFX switched from a financial futures exchange into a more comprehensive financial exchange, however, as of 2018, the exchange was only offering financial futures contracts.
On June 22, 2009, the TFX gained 'recognized market operator' status from the Monetary Authority of Singapore (MAS), allowing Singaporean investors to become remote TFX members and trade its contracts directly.[4] In January 2010, the TFX was sued by a group of Japanese investors over a scandal involving German bank Commerzbank mispricing forex contracts between the South African rand and the Japanese yen.[5]
Products[edit]
- Tokyo Financial Exchange Three-Month Euroyen Futures
- Tokyo Financial Exchange Options on Three-Month Euroyen Futures
- Tokyo Financial Exchange Over-Night Call Rate Futures
- Tokyo Financial Exchange Spot-Next Repo Rate Futures
- Tokyo Financial Exchange Exchange Forex Margin Contract
Contract Volume[edit]
| Year | Total Annual Volume | Percent Change |
| 2021 | 67,769,003 | 36.39% |
| 2020 | 49.688,268 | 48.5% |
| 2019 | 33,457,924 | (-) 13.84% |
| 2018 | 38,833,350 | 0.9% |
| 2017 | 38,478,945 | (-) 26.1% |
| 2016 | 52,086,497 | 6.3 |
| 2015 | 48,986,442 | 19.8% |
| 2014 | 40,900,423 | (-) 37.6% |
| 2013 | 65,527,790 | (-) 2.1% |
| 2012 | 66,925,893 | (-) 53.8% |
| 2011 | 144,901,960 | 19.5% |
| 2010 | 121,278,095 | 44.9% |
| 2009 | 83,678,044 | -- |
Key People[edit]
- Nobuyuki Kinoshita, President & CEO
References[edit]
- ↑ Our Business. TFX.
- ↑ About TFX. TFX.
- ↑ What is TFX?. TFX.
- ↑ Tokyo Financial Exchange gets recognised market operator status in Singapore. Finetik.
- ↑ Japan : Commerzbank, Tokyo Financial Exchange sued for rand fiasco. TheFreeLibrary.com.