FX regulatory dialogue has supported the spread of competition and market leverage FX

■ FX series interviews before the regulatory reforms Reba " tailwind " How large public investment in
All eight series click Takashima Securities president Taro Tashima Satoshi ×

Interview Series Part 2 - FX markets , rapid growth has been behind a short time so far , there are various factors . One of them would be highly leveraged . FX also verify the various influences brought to the market leverage , FX measures may be an infinite leverage the impact of regulation on the market. Click FX president of the largest securities industry Takashima Hideyuki Taro Tashima Satoshi FX you are familiar with financial analysts talk about the relationship between market growth and leverage .

Takashima FX- called "Foreign Exchange ( Forex ) " is an abbreviation of the market when the time was we were already beginning to boom . In the interest of the rapidly growing FX market there are some , such as housewives and young people who had never invested so far , I have is that it leads to mass market people or fewer .

If you click Tajima 's securities from the account also has to deal with equity investment , well , does not know the difference.

Takashima interesting is that people who hold the stock accounts , investment experience , but there are many rich people , those who open an account and FX FX trading begins , rather than equity investment FX A lot of people I would shift . When I heard the voice of investors , in stark contrast to the stock market has been relatively limited risk yet . The stock market , and 30 % of the daily price fluctuation is not uncommon that even at the lowest price is not that unusual . But a dollar a day foreign exchange market operates with three - four yen , and it pops up a newspaper front page news .

In addition Tajima has been substantial investment in risk management tools such as stop-loss . Indeed , FX margin trading and investment than the stock investment is more , when talking of low-risk asset . In addition, there are stocks thousands of stocks , FX principle yen dollar dollar euro yen, euro and Australian dollar and New Zealand dollars , but it is such a simple cross from the South African rand is the yen .

We Takashima , FX and securities accounts for both accounts is not there , try to watch the trends and investors actually may be more risky securities accounts . However, the FX has ever competing companies are largely divided into two . One is the size of the leverage . Will be able to leverage enough money is a big deal , FX trading was essential . And he is competing against another , including our competition " spread "is . That spread is simply the " selling price "and" value buy " the difference is that , having spread money and three or four sen per dollar , for example, changes in the yen sen or 09 per round trip Investors do not pay no . That would spread around the penny , making profitable small price movements in .

Tajima spread competition is still in progress , FX trimmed the investment environment in the spread narrow majority of the company . And it was not effectively leverage the advantage of small price movements . By increasing the slot , a position that enables a large amount , you can now profit from one big sale .

In that sense Takashima , FX trading means may be accounted for greater leverage . 50 times the regulated limit their leverage , and hopefully it 25 times , industry-wide trading may become temporarily decreased . However, the regulations will improve the image of this product called FX , FX is the number of investors would continue to increase. We include , of course, must be healthier FX industry will form .

Tajima, compared to a few years ago , FX awareness of individual investors has changed dramatically. These days, in a corner of the bar woman in her 30s , has seen steadily in his computer to trade , in the words of their " stylish " What is it . If the father is a symbol of equity , FX trading and may I say the youth trend . For working women , FX products , such as investment , has become one of my future steps .

Takashima and beams , 20 young people in their 30s , supported by the women that it would cause it has greatly improved the FX market. Behind These are also related to a simple and easy to understand , perhaps that is a big attraction is that you can trade 24 hours a day whenever you like .

Another Tajima had been accepted to the subprime shock is said that the big " swap points ( interest ) "There are benefits in . I'm silly , but I'm skeptical ... . To increase profits is to make sure the swap points , the most important it is to adjust to price fluctuations .

Market conditions in the yen has remained weak as it was several years ago Takashima nities to earn points that a major swap . But since the subprime loans , investment techniques that make the swap point I collapsed. In that way now and it has become important to adjust to fluctuations in the price of such trading techniques that are important revenue tools for individual investors narrow spreads and leverage , for sure .