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Brokers News reports 325% growth in institutional forex volume in Q1

May 10 2012
By Q1 results highlights:


- Range-bound markets and multi-year lows in volatility impacted quarterly results;


- Strong brand helps maintain and improve key metrics:
            -Client assets increased 15% to $325.9                   million;
            -Average account size up 34% to $4,413;
- Institutional trading volume continues to grow, rising 325% to $468.0 billion;
GAIN Capital Holdings, Inc. ("GAIN") (NYSE: GCAP), a leading global provider of online trading services, announced its results for the first quarter ended March 31, 2012.
"Market conditions continued to be very challenging in the 2012 first quarter, with the Euro and other major currencies trading in a narrowing range and market volatility reaching four and a half year lows. Within this challenging environment, we successfully managed expenses to achieve positive EBITDA despite a decline in revenue," said Glenn Stevens, Chief Executive Officer.
"There were several bright spots in the quarter. Overall, client engagement in our retail business remained strong due to the strength of our brand and our focus on execution quality, providing better tools, and our commitment to high levels of customer service.  As a result, on a year over year basis client assets increased 15%, while the average account size grew 34% and the average trade size was stable at $43,046.  The number of active accounts and volume per active account were stable from a year earlier, at 36,041 and $11.1 million, respectively. On the institutional side, our GAIN GTX platform continues to gain traction, with trading volume rising to $468.0 billion, up from $110.1 billion."
"We continue to actively explore opportunities to diversify our revenue sources through product development and targeted acquisitions, leveraging our technology infrastructure, brand recognition and financial resources to build shareholder value," Mr. Stevens said.
Gain Capital Q1r Metrics
(Comparisons below are referenced to Q1 2011)
 -    Net revenue of $33.2 million, compared to $40.4 million
 -    EBITDA* of $1.3 million, compared to EBITDA* of $5.0 million
 -    Net loss of $1.3 million, compared to net income of $1.4 million
 -    Adjusted net income* of $0.1 million, compared to adjusted net income* of $2.5 million
 -    Diluted EPS of $(0.04), compared to $0.04
 -    Adjusted diluted EPS* of $0.00, compared to $0.06
 -    Total retail trading volume of $385.1 billion, compared to $402.5 billion
 -    Total institutional trading volume up 325.1% to $468.0 billion
Declaration of Quarterly Dividend
The Board of Directors approved a quarterly dividend of $0.05 per share, to be paid on June 21, 2012 to shareholders of record as of June 12, 2012.
About GAIN Capital
GAIN Capital Holdings, Inc. (NYSE: GCAP) is a global provider of online trading services. GAIN's innovative trading technology provides market access and highly automated trade execution services across multiple asset classes, including foreign exchange (forex or FX), contracts for difference (CFDs) and exchange-based products, to a diverse client base of retail and institutional investors.
A pioneer in online forex trading, GAIN Capital operates®, one of the largest and best-known brands in the retail forex industry. GAIN's other businesses include GAIN GTX, a fully independent FX ECN for hedge funds and institutions, and GAIN Securities, Inc. (member FINRA/SIPC), a licensed U.S. broker-dealer.
GAIN Capital and its affiliates have offices in New York City; Bedminster, New Jersey; London; Sydney; Hong Kong; Tokyo; Singapore; Beijing; and Seoul. For further company information, visit
TAGS:  gain capital  g1  2012  forex trading volume  forex broker 

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