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Operating Results at Japan's Monex Deteriorate M/M in October

Monex Group, Japan's securities expert, today announced its set of metrics for October 2013, with comparisons on an annual basis painting a nice performance picture, but the monthly comparisons being more dismal.

 
Let's kick off with the results of Monex Inc., the group's Forex subsidiary in Japan. It posted 64,355 active Forex (OTC) accounts for October 2013, marking an impressive rise of 21% against the same month a year earlier, but slightly lower than the 64,833 registered in September 2013. Daily average revenue trades (DARTs) amounted to 178,671 which was 65% higher than a year ago, but 9% lower than in the preceding month. 
 
But you must already be wondering about the volumes: global Forex volumes grew by 5% year-on-year to $40.8 billion, but edged 14% lower than in September 2013. DARTs on a global basis also had divergent fortunes depending on the comparison: on an annual basis they rose 25% but on a monthly basis they fell 4.6% to 340,217.
 
It's a common thing to put the stress on annual comparisons when analyzing the performance of any business, as they exclude some seasonal factors. However, the monthly drop in Forex trading volumes is somewhat puzzling given that October 2013 included three business days more than September. Hence, the monthly comparisons are even flattered and still they are dull. The annual rise is apparently beefed up by the effects on the operating metrics from TradeStation – in October 2012 the company was not a part of Monex Group yet.
 
More worryingly, the efforts of Monex – including the introduction of Monex MT4, are not yet paying off. Fortunately, the group is implementing a strategic plan to streamline costs and boost business – hopefully that works. 
 

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 japan  monex inc  monex forex broker  monex operating results  monex frex volumes  october 2013  operations october 2013  forex accounts  forex darts 

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