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FXCM Sees Spike in Institutional Trading Volumes in Q1'2014

Leading US Forex broker FXCM has just reported some key operating metrics for the first three months of 2014, with institutional trading volumes showing a steep rise year-on-year. According to the metrics, revealed only several hours ago, institutional customers at FXCM traded $546 billion in the first three months of 2014, a jump of 46.4% from the $373 billion recorded in the equivalent period in 2013. The figure for this year was significantly beefed up by the result in March: institutional trading volumes during the month reached $200 billion, 60% higher than in March 2013, and up by 23% from February's result.

 

The retail segment was a bit subdued for the broker, with retail Forex volumes in the first quarter of 2014 reaching $937 billion, down by 10% from the volumes seen in the corresponding period in 2013. However, this number was still way above the retail Forex volumes of $566.4 billion posted by FOREX.com for the first three months of this year. Indeed, FXCM still has an edge in the retail segment. Moreover, the retail Forex volumes for the first quarter were 5% higher than in the final quarter of 2013.

 

In the face of the drop in volumes, the number of trades done by retail clients held up well in March. The average number of retail client trades per day reached 428,138 , up by 7% from the previous month and up by 1% from March 2013.

 

Meanwhile, we still expect that big deal in the retail Forex sector which FXCM's chief executive Drew Niv talked about in November. If the deadline that FXCM has set is correct, it's set to happen not later than June 2014. 

 

As we are talking of mergers and acquisitions, we should mention that in the first quarter of 2014,  Lucid hit a number of performance targets enabling the company to receive further 3 million FXCM class A common shares in tune with a deal following FXCM's acquisition of a 50.1% interest of Lucid in June 2012.

 

 

Below you can see the official press release.

 

FXCM Reports Monthly Metrics

NEW YORK--(BUSINESS WIRE)-- FXCM Inc. (NYSE: FXCM) today announced certain key operating metrics for March 2014 for its retail and institutional foreign exchange business.

 

Monthly activities included:

 

March 2014 Retail Trading Metrics

 

Retail customer trading volume of $290 billion in March 2014, 5% lower than February 2014 and 9% lower than March 2013. 

Volume from indirect sources was 46% of total retail volume in the first quarter 2014. Retail customer trading volume for the first quarter 2014 was $937 billion, 5% higher than the fourth quarter 2013, and 10% lower than the first quarter 2013.

Average retail customer trading volume per day of $13.8 billion in March 2014, 9% lower than February 2014 and 9% lower than March 2013.

An average of 428,138 retail client trades per day in March 2014, 7% higher than February 2014 and 1% higher than March 2013.

Tradable accounts of 189,263 as of March 31, 2014, a decrease of 1,459 accounts, or 1% from February 2014, and a decrease of 6,366 accounts, or 3%, from March 2013.

 

March 2014 Institutional Trading Metrics

 

Institutional customer trading volume of $200 billion in March 2014, 23% higher than February 2014 and 60% higher than March 2013.

Average institutional trading volume per day of $9.5 billion in March 2014, 17% higher than February 2014 and 58% higher than March 2013.

An average of 37,647 institutional client trades per day in March 2014, 7% higher than February 2014 and 109% higher than March 2013.

In the quarter ended March 31, 2014, Lucid met certain performance requirements enabling them to receive the third tranche of 3 million FXCM class A common shares pursuant to the purchase agreement related to FXCM's acquisition of a 50.1% interest of Lucid in June 2012. While the purchase agreement does not require these shares to be issued to the Lucid sellers until June 18th, 2014, the 3 million shares will be included in the determination of FXCM's fully diluted and proforma EPS for the quarter ended March 31, 2014 since the performance requirements were met during this period.

 

This operating data is preliminary and subject to revision and should not be taken as an indication of the financial performance of FXCM Inc. FXCM undertakes no obligation to publicly update or review previously reported operating data. Any updates to previously reported operating data will be reflected in the historical operating data that can be found on the Investor Relations page of the Company's corporate web site, www.fxcm.com.

 

About FXCM Inc.

 

FXCM Inc. (NYSE:FXCM) is a global online provider of foreign exchange (forex) trading and related services to retail and institutional customers world-wide. At the heart of FXCM's client offering is No Dealing Desk forex trading. Clients benefit from FXCM's large network of forex liquidity providers enabling FXCM to offer competitive spreads on major currency pairs. Clients have the advantage of mobile trading, one-click order execution and trading from real-time charts. FXCM's U.K. subsidiary, Forex Capital Markets Limited, also offers CFD products with no re-quote trading and allows clients to trade oil, gold, silver and stock indices along with forex on one platform. In addition, FXCM offers educational courses on forex trading and provides free news and market research through DailyFX.com.

 
TAGS: fxcm  fxcm usa  fxcm forex broker  us forex broker  fxcm metrics  fxcm performance  forex performance  q1  first quarter 2014  first quarter  operating metrics  trading volumes  institutional trading  retail clients  retail forex  forex volumes  trading v 

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