From the FXWW Chatroom – Well worth a read. Leaving aside recent flash crashes in aud and chf – Foreign-exchange margin trading gained popularity in Japan after a revision to financial legislation in 2005, and surged to account for 68 percent of total spot transactions in 2013 when the central bank expanded quantitative easing. With their market share never falling below 43 percent since then, the influence of the so-called Mrs. Watanabes has become known across the world. NSN PMUHSO6S9728 <GO> Japanese margin-trading companies typically match buy and sell orders from clients on their own platforms, and only the excess reaches the market and impacts exchange rates. This excess amounted to 129.5 trillion yen ($1.2 trillion) in April last year, or 46 percent of total spot transactions in Tokyo, according to data from the Financial Futures Association of Japan. That volume was 20 percent higher than deals done for corporate clients.