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Japanese forex brokers Monex and DMM Securities report increased trading volumes for August

Sep 04 2014
By
After months of downward trend in August Monex and DMM Securities, two of the notable Japanese forex brokers, finally reported increase of trading volumes with 1% and 5.9% MoM gain respectively.
 
For Monex these results may be a breath of fresh air but they can't mask the serious decline in trading volumes experienced by the company in Japan. August 2014 volumes are $29.3 billion, a 43% down compared to the same month the prior year. The active accounts for the month are 62 024, only a marginal increase to July and c.a. 5% down on yearly basis. Daily average revenue trades (DARTs) stand at 155 000 which is slightly better than prior month.
 
Unfortunately for Monex the business of its subsidiary TradeStation, a California based broker acquired back in 2011, is not performing much better with a decrease of DARTs of approx. 20% compared to the previous year. August active accounts, however, are 85 991 which is 8% higher. More clients, less trades.
 
All in all, the current situation of Monex seems to be grim. DMM Securities, the second largest Japanese broker by volume, is performing better with August monthly volume of $329.8 billion. While it is true that the reported trading volume marginal increase of 1% is preceded by six consecutive months of decrease one may take into account that the company had a very large surge of its trading volume in January and it was all but natural to expect a drop in volumes. Last January trading volume was $771 billion, a stunning 55% higher than those in December.
 
Nonetheless, both brokers have to be concerned. August was a strong month overall for forex trading in Japan with 15.1 increase of the country's traded volume according to the Tokyo Financial Exchange. Accordingly, GMO Click, another big Japanese broker, has reported a 22.13% increase of its trading volume to $253.5 billion for August (see table below). The 1% and 5.9% gains reported by Monex and DMM are just not good enough.
 
 
Click table to enlarge it.

 

TAGS: Monex  DMM securities  operating metrics  August 2014  GMO Click 

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