Monex nails a great start to the year continuing solid rebound since October 2013
Monex Group has just published January trading volumes on its website and the results are promising – activity has picked up by 20% on last month’s already impressive rebound. The amount of average daily transactions has reached ¥167 billion ($1.65 billion) in the month of January. That almost matches the impressive numbers seen at the start of last year.
The Japanese Yen carry trade has been unwinded during the past couple of weeks, so the spike in trading activity can be directly attributed to recent FX volatility pick up. The growth trend has been nowehere but up since the month of October when the company reported its lowest figure for 2013.
The recent implementation of the award winning TradeStation software for Japanese customers of the firm could be another factor that is driving volumes to the company in the beginning of 2014. As most of the customers of the company are reinvigorating their risk appetite we are likely to see further action in the coming months.
For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.