TOCOM Announces 2015 Participation Survey Results


The Tokyo Commodity Exchange, Inc. announced the results of its annual trade participation survey. The survey details trading activity by participant type for September 2015.

Proprietary trading firms accounted for 33.3 percent of volume, the largest share for the month. Retail investors followed at 24.5 percent and commercial participants were at 7.8 percent. The largest proportion of open interest was held by retail investors, at 35.7 percent. This was followed by commercial participants at 20.2 percent and proprietary trading firms at 6.1 percent.

The data shows that retail investors have a greater proportion of open interest than trade volume. This suggests that TOCOM’s retail investors tend to hold positions for a relatively long period of time. The Gold Daily contract facilitates this style of trading, since it has no maturity date. Commercial participants also have a higher proportion of open interest than trading volume.

Nearly 50 percent of TOCOM’s volume originates overseas from an increasingly diverse participant base. This has been achieved in part by the Exchange’s consistent promotional efforts.  

More survey details can be found here:

Reference: 2014 survey results