tocom-logoThe Tokyo Commodity Exchange (TOCOM) announced that average daily volume for June 2016 was 115,305 contracts, increased by 5.0% month over month, and 24.6% form the same month last year. The total monthly trading volume was 2,536,720 contracts with 22 trading days. The most traded contract was Gold Standard with 914,934 contracts of monthly trading volume and 41,588 contracts of average daily volume, grew by 20.1% MoM, and 45.1% YoY. Gold Rolling Spot rose by 9.5% to 18,869 contracts. This helped overcome decreases in contracts such as Dubai Crude Oil, which was down 16.1% to 20,487 contracts.

Trading volume for the first fiscal quarter of 2016 (April–June) was 6,965,316 contracts (114,186 contracts/day), up by 24.6% year-over-year. On a monthly basis, total volume outpaced over the previous year for six consecutive months.

TOCOM explained that in June, Gold was particularly heavily traded following the Brexit decision. Highly volatile foreign exchange markets and uncertainty over long-term financial conditions prompted movement to safe-heaven assets. TOCOM Dubai Crude Oil continued to trade heavily on concerns of a supply shortages after public security deteriorated in Nigeria. The market stagnated after the Brexit vote, which increased uncertainty over the future of the global economy.

At the end of June, open interest for all products was 407,488 contracts, an increase of 9,407 (2.36%) from the previous month.

Trading Volume Breakdown

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(Source: Tokyo Commodity Exchange (TOCOM) )

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