Published reports indicate the Tokyo International Financial Futures Exchange (TIFFE) will start a forex margin trading market early in 2005. Both individuals and institutions will be able to trade on the exchange, which will begin by trading the U.S. dollar, euro, pound and Australian dollar. Traders on the exchange will have 10 times leverage (i.e., a $10,000 deposit will allow them to trade $100,000 worth of securities).
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