2006-2022 | Weekly | Commodity Trading Commission
The contract size for the Japanese yen CFTC is 12,500,000 Japanese yen.
The participants in the Japanese yen CFTC futures market are Institutional, Hedgers, Leveraged Money, and Retail Investors.
Institutional investors include pension funds, endowments, insurance companies, mutual funds, and those portfolio/investment managers whose clients are predominantly institutional.
Hedgers are Other Reportable traders. The traders in this category mostly are using markets to hedge business risk, whether that risk is related to foreign exchange, equities, or interest rates. This category includes corporate treasuries, central banks, smaller banks, mortgage originators, credit unions, etc.
Leveraged Money is typically hedge funds and various types of money managers, including registered commodity trading advisors (CTAs); registered commodity pool operators (CPOs), or unregistered funds identified by CFTC. The strategies may involve taking outright positions or arbitrage within and across markets. The traders may be engaged in managing and conducting proprietary futures trading and trading on behalf of speculative clients.
Retail Investors are non-professional market participants who generally invest smaller amounts than larger, institutional investors.
The measurements used include open interest, net position, and Long/Short Position of Leveraged Money.
How to use this data
As Open Interest increases, more money is moving into the futures contract and vice versa. Open Interest represents the total number of open contracts and volume is the total number of contracts that have changed hands in a one-day trading session. It is important that observe the relationship between open interest and volume. By using open interest, traders are able to forecast the trends and momentum opportunities, also augur the market timing on trades. According to the theoretical base, rising in volume and open interest reveal the continued movement up or down. In other words, when the volume and open interest decline, the theory perceived that the momentum and movement are decelerating, and the direction of prices will soon reverse.
A Long Position occurs when a market participant owns the contracts while a Short Position occurs when the participant owes the contracts to someone and does not own them. The Net Position is the difference between the long and short position, a positive value indicates a net long position while a negative value indicates a net short position.
The net position of Institutional Investors generally reflects the price trend of the futures, either uptrend or downtrend.
The net position of Leveraged Money usually indicates the price is bottoming or toppish as Leveraged Money tend to make bold bets compared to institutional investors. When the net position of institutional and hedge fund are in the same direction, the market is considered safe. However, when the net position of institutional and hedge fund differs, a market correction may be imminent.
The net position of Retail Investors is always an inverse indicator of the price trend. Retail investors tend to increase their long position when prices are falling and add on to their short position when prices are rising.
The net position of Hedgers generally reflects an inverse position of price trends as this category of participant enters into a position to hedge against the price movement, not to speculate.
Long/ Short ratios can be used to estimate changes in market sentiment within specific time-frames.