Gain Capital’s June retail trading volume down 43.7% YOY, institutional segment fares much better

Gain Capital’s June retail trading volume down 43.7% YOY, institutional segment fares much better

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Gain Capital (NYSE:GCAP), the third-largest US forex broker in terms of client deposits, has reported that this June its retail over-the-counter (OTC) average daily volume was USD 10.5 billion (US dollar equivalent of notional amounts traded). The total OTC trading volume in June was USD 231.7 billion. This is 3.7% higher than in May, but is the staggering 43.7% lower than June 2015.

The active OTC accounts (accounts that executed at least one trade in the last 12 months) were 139 022. The number is barely 0.1% higher than the May one and 6.5% lower than last June.

Gain Capital’s institutional segment, GTX, however, fared much better, according to the company metrics. The average daily volume on the electronic communication network (ECN) was USD 9.6 billion, totalling USD 212.3 billion for the entire June. It is 40.1% higher than May 2016 and 17.9% more than in last June.

The average daily volume on the swap dealer facility, though, dropped both from May 2016 and June 2015 – by 15.5% and 8.9%, respectively, to USD 2.4 billion. The total monthly sum was USD 53.4 billion.

The overall improved June performance of Gain Capital comes as good news after the May collapse in the performance of both the retail and the institutional branches of the brokerage and perhaps can be attributed to the high market volatility caused by the news of the Brexit. On June 24, GTX reported a record trading volume of USD 24.2 billion. Overall, the broker reported that it was not negatively affected by the Brexit volatility.

In the futures segment, the average daily number of contracts was 33 047 – 4.8% less than in May 2016, but 4.6% higher than last June. The total number of traded futures contract for this June was 727 633. The number of active futures accounts was 8 822 – 0.6% less than in May and 0.3% more than June 2015.

New Jersey-based GAIN Capital has global presence across 180 countries in North America, Europe and the Asia Pacific regions. The broker serves retail and institutional clients alike on the exchange-traded and OTC markets, using the trading brands, City Index, GTX, and Gain Capital. It offers trading in forex, commodities, bonds, indices, and global equities, among others.

The brokerage has, through its subsidiaries, licenses from the relevant authorities in the US, the UK, Canada, Australia, Hong Kong, Singapore, and Japan.

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