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GAIN Capital Sees Solid 2013, Institutional Business on the Rise

GAIN Capital, the US financial trading expert behind Forex broker FOREX.com, today announced its results for the fourth quarter of 2013 and the full year, with the performance of the institutional business making the group particularly happy. 

 
The fourth quarter was a strong one for GAIN, with both retail and institutional trading volumes staging a rise against the same period a year ago. In the three months to the end of December 2013, retail OTC trading volumes amounted to $508 billion, a jump of massive 70% against the $298.8 billion registered a year earlier. The reading signifies the continued strong performance of FOREX.com, the retail FX brand of GAIN. For that matter we should also note that overall retail client assets reached $739.3 million during the quarter, up 66% from $446.3 million in the fourth quarter of 2012.  The institutional trading volume amounted to stunning $1.1 trillion, a jump of 105% from $538.4 billion a year earlier.
 
The financial metrics for the three-month period delivered some positive news too, especially the net income of $4.3 million, compared to a loss of $3.8 million in the equivalent period in 2012. 
 
The full-year results were solid for the retail FX segment as we have expected, with annual revenues from this business at $205.1 million, up from $127.5 million in 2012.  Total retail OTC trading volumes last year were $1.8 trillion, against $1.3 trillion in the preceding year.
 
But what is perhaps the focus of everyone's attention is the performance of the non-retail business of the broker. As you may know, GAIN aims to raise the portion of non-retail revenues to 50% of the total. The acquisition of GFT was a step in this direction. Today GAIN boasted some especially encouraging results in the institutional segment: institutional trading volumes hit $4 trillion in 2013, up 103% from $2 trillion in 2012. This was reflected in a set of robust financial metrics: annual net revenues reached $266.4 million, a growth of 76% from $151.4 million, while the net income amounted to $31.3 million – surging from last year's result of $2.6 million. Apparently, GAIN's efforts to boost the institutional business are bearing fruit.
 
Commenting on the results, group chief executive Glenn Stevens noted that the GFT acquisition had helped GAIN to enlarge its global footprint and product offering, as well as (of course) its client base. He added that chances are that GFT and GAIN will manage to cut combined expenditure base by $35-$45 million in the first year after the acquisition.
 
 
You can read the full press release on GAIN's results here.
 
 
 

About GAIN Capital 

 
GAIN Capital Holdings, Inc. (NYSE:GCAP) is a global leader of online trading services provision. GAIN's technology offers market access and automated trade execution across multiple assets, including Forex, contracts for difference (CFDs) and exchange-based products, to both retail and institutional investors.
Through its retail brand, FOREX.com, GAIN provides retail traders across the globe with access to various OTC financial markets. FOREX.com supports clients from more than 140 countries, with its products and services available in many languages, including English, Arabic, Chinese, Japanese, and Russian.  
GAIN Capital and its affiliates boast offices in New York City; Bedminster, New Jersey; London; Sydney; Hong Kong; Tokyo; Singapore and Beijing.
TAGS: gain capital  forex.com  forex.com forex broker  us forex broker  retail forex  institutional forex  revenues  full year results  annual results  2013  fourth quarter  revenues  profits  forex volumes 

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