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Decline in Forex Volumes at Monex Loses Pace in November

Monex Group, Japan's financial conglomerate behind Forex broker Monex Inc, today announced its operating metrics  for November, with the month-on-month decline losing its force and the results being robust overall.

 
Global Forex volumes amounted to $40.3 billion last month, down by only 0.25% from November 2012 and down by 1.2% from levels seen in October 2013. The drop is less steep than the 14% month-on-month fall in Forex volumes registered in October. This means that we may be seeing some improvement in the fortunes of the company: it's probably starting to capitalize on the recovery in volatility of some currency pairs seen lately. Moreover, its strategic plan to reduce expenses and introduce more trading platforms to its clients worldwide may be bringing fruit. 
 
Daily average revenue trades (DARTs) delivered a positive piece of news – on a global basis they reached 341,269 in November, a rise of impressive 16% against the same month in 2012 and a modest increase of 0.3% against the 340,217 seen in October 2013.
 
But you may be curious about the fortunes of the subsidiaries of the group. For openers, let's note that performance at Tradestation started to improve last month and DARTs edged up from 161,536 in October 2013 to 161,694 in November 2013. Monex Inc, the Japanese Forex broker, saw an annual jump of over-the-counter Forex accounts of 21% to 63,355. DARTs were also up in year-on-year terms – by 5% to 179,831.
 
We have to wait a little longer to find out whether the strategic efforts of the group will translate into hike in trading volumes.
 
 

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  monex forex volumes  forex volumes november  november 2013  forex accounts  forex trades  performance november  november 2013  operating metrics 

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