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Monex Group Registers Global FX Volumes of $702.9 bn in 2013

Monex Group, the Japanese securities giant, earlier today reported the operating metrics for the last month of the past year, which added to overall strong results for 2013, with annual global Forex volumes reaching $702.9 billion.

 
The Forex trading volumes for 2013 were up by massive 24% against the $567 billion recorded in 2012, reflecting the group's efforts to boost the offering of platforms worldwide. Still, we should note that the result is way less impressive than the $3.53 trillion in Forex volumes reported by Denmark-based Saxo Bank for last year. Apparently, the well-established Japanese Forex market has yet to fight to match with rivals on a global scale. 
 
December was a solid month for Monex Group, as global FX volumes reached $41.9 billion, a rise of 1% against December 2012, and a nice increase of 4% against levels seen in November 2013. The number of daily average revenue trades (DARTs) also held well at 347,664 in December 2013, marking a steep jump of 16% against levels from the same month in the preceding year and a marginal increase from November 2013 reading.
 
Across subsidiaries, the performance of TradeStation was somewhat disappointing last month, with the number of DARTs down by 8% from November 2013. The picture was rosier at Monex Inc, the Japanese Forex broker, where DARTS were up by 11% month-on-month and Forex accounts amounted to 63,457, a rise of 1% from November 2013 and of 20% from December 2012.
 
Meanwhile Monex is pressing ahead with its cost-cutting efforts – you may recall that it plans to slash expenses by JPY 2.69 billion (USD 25.6m) by March 2017. in November, Monex's financial expenses were JPY 363 million, down by 5.5%  from October's numbers. The efforts of the company are obviously paying off. 
 

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  monex group  monex inc  monex japan  monex forex broker  operating metrics  forex volumes  global forex volumes  annual forex metrics  2013 performance  corporate results  forex accounts  otc  forex trading  darts  tradestation 

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