Gaitame’s parent company Tradition sees some improvement this year, however, as volumes pick up.
Earlier today, interdealer broker Compagnie Financière Tradition (or just “Tradition”) released its 2012 Annual Report. Among the nuggets of information was a note that Gaitame, a mid-size retail FX broker in Japan in which Tradition holds a 49% stake, saw a 20.2% decline in revenue in 2012 from 2011. Note that, as we reported earlier, Tradition already released their Q1 revenue numbers which showed Gaitame as one bright spot (revenue up 8.4% in Q1) in an otherwise down quarter for Tradition.
We expect some more improvement over the short term as we have noted Japanese Forex firms are seeing record volume numbers. Since the December election of Shinzo Abe, and his super loose monetary policy, we are seeing a pickup in volatility in Yen trading. This increase in volatility should help FX brokers’ bottom lines going forward. We wait to see more numbers as companies release them and will bring them to you as soon as we have them.
To download the entire (pdf) Tradition 2012 Annual Report click here.