Monex’s September forex DARTs recover from summer slump

Monex’s September forex DARTs recover from summer slump

- in All News, Forex Brokers
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The Japanese brokerage Monex Group (TYO:8698) saw its September Daily Average Revenue Trades (DARTs) and the forex over-the-counter (OTC) average value of trades per business day recover from the two-month summer slump in August and July.

According to the official company data, the DARTs in September were 147 917, which is 5.3% more than August. The forex OTC average stood at JPY 123.8 billion – 45% higher than the August average. Both metrics, however, are significantly lower than those in September 2015. The DARTs this September are nearly 20% less and the forex OTC average value dropped nearly 36% over the year.

The total turnover of Monex Group, including all its subsidiaries (stock brokerage, futures and options, OTC FX, mutual funds, TFX-CFD and bullion (gold, silver & platinum), however, continued its decline from August and in September stood at nearly JPY 893 billion, with almost a 6.5% monthly decline.

TradeStation Group, which transferred its OTC forex accounts in Australia and the US to Oanda in March, but started operations in Japan, also saw a recovery in September and posted a 13.7% increase in its DARTs, to 103 752.

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.

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