Monex’s July forex trades, volumes decline again

Monex’s July forex trades, volumes decline again

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The Japanese brokerage Monex Group (TYO:8698) released its July preliminary results, revealing that after a relatively strong performance in June, last month its main metrics were on the decline once more.

The global Daily Average Revenue Trades (DARTs) – the number of trades and transactions per day that generated revenue across all Monex Group subsidiaries (stock brokerage, futures and options, OTC FX, mutual funds, TFX-CFD and bullion (gold, silver & platinum)) were 275 082 – nearly 6.3% less than in June and less than 1% more than in May. On an annual basis, this July there were 11.2% less.

The decline is seen both across the stock and the forex brokerages of the company. The number of over-the-counter (OTC) forex DARTs in July dropped 3.5% over the month, to 178 737, and nearly 9% from last July.

The number of total accounts (the sum of brokerage accounts and FX-only accounts) continued inching upwards to 1 655 294, the active being 1 004 968. The total customer assets also rose from June and reached JPY 3.4 trillion, but were less than in May when they stood at JPY 3.5 trillion.

Much like the number of total accounts, that of the OTC forex accounts also continued its slow rise to 228 124, both over the month (June 2016: 227 043) and over the year (July 2015: 213 815). The number of active OTC forex accounts also rose, but just by 0.5%, to 64 657.

At the same time, Monex’s OTC forex clients generated an average of JPY 135.4 billion in trades per business day. This is the lowest value since the beginning of the year and 13% lower than July 2015.

TradeStation Group, which transferred its OTC forex accounts in Australia and the US to Oanda in March, but started operations in Japan, also saw declining DARTs in July. According to the report, they were 97 313 – nearly 11% less than in June. The number of active accounts dropped, however by just 0.3% to 62 018. The total client assets continued its slow increase and reached USD 3.9 billion.

Monex Group operates internationally and consists of a group of companies based in Japan, Asia, North America and Europe. Monex Group operates under three retail trading brands – Monex, TradeStation and Boom. The majority, or about 60%, of its revenue comes from operations in Japan and the remaining 40% from operations in the US.

This Monday Monex Group released its quarterly report which showed that it still maintains profit. At the same time, the June data revealed that its revenues and profits are rising in comparison to May.

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