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Monex Group Registers 24% Y/Y Drop in Forex Volumes in Jan

Monex Group, the Japanese securities expert behind Forex companies like Monex Inc and Tradestation, today announced its operating metrics for January 2014, with global Forex volumes staging a steep drop against the same month in 2013.

 
Global Forex volumes at Monex amounted to USD 53.4 billion last month, marking a drop of 24% against levels seen in January 2013. Daily average revenue trades (DARTs) also fell year-on-year – they were down by 2% to 397,888. The result is quite disappointing for the group as it has been making steps towards enhancing its services and boosting its list of platforms - and yet, a year of such efforts brings no noticeable results. 
 
On the brighter side, the monthly comparisons were better, with global FX volumes in January up by 27.5% from levels recorded in December 2013. DARTS were also higher month-on-month – they staged a rise of 14.5%.
 
Across subsidiaries, Forex broker Monex Inc did well, with Forex accounts amounting to 62,929 last month, higher than the 52,998 seen in January 2013. DARTS rose on a monthly basis not only at Monex Inc, but also at Tradestation, the US-based business of the group.
 
The report comes amid a push by Monex Group to reduce expenses, which, however, suffered demise in December last year. You may recall that the final month of 2013 showed a picture of rising costs: the financial expenses reached JPY 447 million (USD 4.4m), a rise of 23% from the JPY 363 million in financial costs seen in November 2013.
 
Still, the group manages to maintain stable financial performance: Monex's revenues in Japan during the October-December 2013 period were solid, up by 11% quarter-on-quarter to JPY 9.5 billion. Total revenues for the three-month period amounted to JPY 13.54 billion, 9.1% higher than in the second quarter, while the net income for the third quarter of Monex's fiscal year surged 62% to JPY 2.54 billion. 
 
 
 

About Monex Group Inc.

 
Monex Group Inc is an online securities brokerage providing advanced financial services to individuals and investors. The company is considered a pioneer among Japanese online securities brokers, and its services cover M&A advisory, debt & equity underwriting, asset management focusing on alternative investments, investment education, and other investment banking functions. Monex Group has offices throughout Asia, and the recent acquirement of brokers TradeStation and IBFX opened its way to the US market as well.
TAGS: monex group  monex inc  monex forex broker  monex japan  japan forex broker  tradestation  monthly metrics  operating results  forex volumes  january 2014  january  forex accounts  darts  forex trades  forex trading 

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