New CEO to be appointed at Tokyo Financial Exchange

Japanese futures exchange - Tokyo Financial Exchange (TFX) declared Nobuyuki Kinoshita will take over from outgoing CEO Shozo Ohta at the end of June
08 June 2018   1165

Shozo Ohta will be replaced by Nobuyuki Kinoshita (he is presently with Aflac Life Insurance Japan). Ohta’s departure and Kinoshita’s appointment will first have to be authorised by shareholders at the general meeting on the 26th of June. This announcement goes after a positive month of trading for TFX. The volumes significantly increased in FX as Japanese investors put their money into the Turkish Lira. Exept for an April dip in trading, driven by volatility shortering, the company has recommended itself well in 2018.

As supposed, Kinoshita will enter a company that does not need any crisis management but demands a reliable chief to provide it maintains its current performance levels. Kinoshita should be up to the task if mention his wealth of experience. 

He has worked for the past four years in the Japanese division of American insurance giant Aflac. Within this period of time, he acted as senior advisor of the firm and was responsible for investigations and disseminating information on the Japanese financial system. Before this, Kinoshita was Secretary General of the Securities and Exchange Surveillance Commission (SESC). The SESC operates a regulator for the securities and futures markets in Japan.

The outgoing TFX CEO has been in the sphere of financial services for almost 50 years. He was employed since TFX in 2002, when the company was still known as The Tokyo International Financial Futures Exchange. He has kept his present function for about 10 years, having been appointed as CEO in 2009.

Fake Trading Share to Reach 68%, - FTX Global

This figure, however, is significantly lower than what Bitwise's report and the discrepancy is explained by the difference in methodology
04 July 2019   846

The exchange of derivatives FTX Global and Alameda Research conducted a study that estimated the volumes of fictitious transactions (wash trades), presumably prevailing in many cryptocurrency exchanges.

The report says that 68.6% of trading volumes displayed by CoinMarketCap are fake. This figure, however, is significantly lower than what Bitwise Asset Management announced in March.

The discrepancy between the results in almost 30% of the authors of the new study is explained by the difference in methodology. So, FTX Global is sure that Bitwise used an too strict approach to data analysis, which is why a significant proportion of real trading volumes fell into the category of fake ones.

While our methods are not foolproof, we believe they paint the most accurate picture of the true nature of cryptocurrency trading volume that anyone has made publicly available as of yet.

FTX Global Team

The Alameda methodology involves verifying the authenticity of data on trading volumes on various exchanges based on six different parameters, including manual verification of information and comparison of order books.

FTX Global Website
FTX Global Website

In particular, the experts found out that some sites provided data on the volumes of foreign exchanges for their own, with a slight delay in time. Other platforms used more advanced techniques - for example, they introduced large fake volumes only against the background of many smaller orders, thus trying to hide the true state of affairs.

The main purpose of these tactics is to raise the platform higher in the CoinMarketCap rating, creating a false impression of its liquidity. It also sometimes allows for the ability to charge a higher listing fee.