Whilst trading volume activity had leveled off for many firms during November 2014 following two months of very high volumes, Japanese giant MONEX Group continues to make progress, with a 5.5% increase to $55.4 billion for November 2014 compared to October’s $52.4 billion.
This remarkable upturn in fortunes has placed November as the month with the highest trading activity for MONEX Group since the industry-wide high period of last summer, as well as improving on October’s 18.5% increase over September’s already strong results.
Whilst the company as a whole experienced an extremely buoyant month, MONEX Group’s North American subsidiary TradeStation experienced a decrease in the number of daily average revenue trades from 145,670 in October to 122,875 in November, despite the platform now being the sole North American offering from the company after MONEX Group subsidiary removed MetaTrader 4 from its product range and sold its MetaTrader 4 client base to FXCM.
Currently, the FX industry is experiencing more than a degree of consolidation, in which large companies have embarked on high value acquisition campaigns, with MONEX Group being no exception. The company was one of the first to start the metaphorical ball rolling in terms of large scale acquisitions of retail FX companies, having furthered its reach into North America by purchasing IBFX in 2011.
As with many companies which seek to grow via acquisition rather than organic growth, MONEX Group now comprises of a series of business units, which the company is now beginning to consolidate.
Today, MONEX Group announced that it is to merge MONEX Group with subsidiaries MONEX FX Inc and MONEX Inc. There will be no change of company name, location and core business activity of the company.
The details are as follows: