No advantage in CHF volatility for MONEX Group as volumes drop 5.5% in January

Monex Group, Inc. (TYO:8698) has today announced its volume figures for the month of January 2015.

FX trading volume across all of MONEX Group’s business units came to $51 billion in January, which represents a slight decrement when compared to December 2014’s $53.9 billion which was the second highest monthly figure since 2013.

This 5.5% difference in volumes takes into account the Japanese electronic trading giant’s worldwide operations during a month in which the entire global FX market was the subject of tremendous volatility due to the Swiss National Bank’s removal of the 1.20 peg on the Swiss franc.

Whilst many Western firms were exposed to negative balances, and in some cases bankruptcy, Japan’s FX industry remained steadfast due to its concentration on other currencies than the Euro or CHF, however a point of interest is the lack of any trace of a surge in volumes following the events of January 15, which would have been a perfectly normal market reaction due to traders wishing to capitalize on the rapidly appreciating franc and the circumstantial market volatility.

This did not happen, and indeed volumes tailed off rather than increased, a dynamic which was replicated by traders of Click365 exchange-based margin FX contracts in January as the volumes were not affected advantageously by the market situation created on January 15. In the case of Click365, trading in the JPY/CHF contract in January increased dramatically, but the overall volumes stagnated.



Capture 2

As far as daily average revenue trades are concerned, January 2015 brought a minor increase over December for MONEX Group, rising to 359,501 from 336,911 across its entire operations.

OTC FX trading volume at MONEX Group decreased by just 1.3%, showing 250,658 daily average revenue trades in January compared to 254,066 in December, with a slight increase in active accounts having manifested itself.

MONEX Group’s North American enterprise, TradeStation, experienced an increase in daily average revenue trades to 146,225 in January, reverting the company’s monthly results to a similar level to the high points of September and October after a flat November and December.

For the official announcement from MONEX Group, click here.

Read Also: