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Japanese forex broker Money Partners Group (TYO:8732) released a preliminary report for its June metrics, showing that its trading volume rose 33% over the month.
According to the data, in the sixth month of the year the broker’s forex trading volume soared to 91.1 billion currency units (not converted into yen) and reversed the decline that started back in March. It is the third highest since the start of the year, after February’s (96.3 billion currency units) and January (92.4 billion currency units).
June’s trading volume, however was somewhat lower, by 1.9%, to be precise, in comparison to last June. According to its note, the broker calculates the trading volume as the sum of customer transactions in each currency in units using the base currency.
The operating revenue of Money Partners Group also rose significantly in June. It reached JPY 735 million, up 57% from May’s JPY 468 million. It is the highest since October 2011 and was is due to the increase in the overall profitability per unit trading in accordance with the sharp rise in the percentage of trading volume of dollar/yen rate with relatively low profitability.
In June the number of customer accounts also increased – from 278,360 in May to 280,816 in June, but the client deposits dropped by almost 4% to JPY 57.1 billion.
In its statement the broker notes that the overall market volatility and that of the dollar/yen in particular, was the highest since April 2013, mostly due to the news of the impending Brexit. The turmoil on June 24 and the following days, according to Money Partners Group, was the main cause for the rise in its trading volumes, as the most traded currencies were the British pound and the Euro.
Money Partners Group is a holding company which is comprised of forex and contracts for difference (CFDs) broker Money Partners and financial system development company Money Partners Solutions. It serves both retail and institutional clients.
Overall, in June the Japanese forex and binaries market recovered from its May slump and posted a 17.33% increase. The two other major Japanese forex brokers – GMO Click and Monex also reported better June results.