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Compagnie Financière Tradition Reports Mild Fall in Inter-Dealer Revenues While Avalanche Hits Retail

by George Tchetvertakov
  • Compagnie Financière Tradition (CFT) reports a mild 2.8% decline in Q3 inter-dealer broking business and a 29.6% YTD decline in consolidated revenue derived from its Japan-based retail FX business, Gaitame.com.
Compagnie Financière Tradition Reports Mild Fall in Inter-Dealer Revenues While Avalanche Hits Retail
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Earlier today, Swiss inter-dealer brokerage group, Compagnie Financière Tradition (CFT), published financial metrics for Q3 2014 in a brief summary statement.

In the statement, the company reports a consolidated revenue figure of 197.9 million Swiss francs ($207 million) for Q3, a 2.8% year-on-year decline. The inter-dealer broking business unit was down 1.9% and with all other business (including retail volume from Gaitaime in Japan) collectively falling 8.1%.

So Far in 2014

Year-to-date, CFT's consolidated revenue stands at 623.3 million Swiss francs ($653 million) compared to 679.5 million Swiss francs compared to the same period in 2013 - an 8.3% decline at current exchange rates. Since January, CFT's inter-dealer broking business has shed 6.1% while all other business including retail FX flow from Japan has declined 29.6%.

The sharp decline in retail Forex revenues at Gaitame is somewhat of a surprise considering a resurgence in retail flows across most Japanese brokers - although this has only been the case since September when forex volumes went through a renaissance.

In related news, earlier this month CFT partnered with the Johanesburg Stock Exchange to offer 3 new currency futures contracts aimed at proving investors with access to Liquidity in the South African rand, Zambian kwacha, Kenyan shilling and the Nigerian naira.

Compagnie Financiere Tradition Logo

Earlier today, Swiss inter-dealer brokerage group, Compagnie Financière Tradition (CFT), published financial metrics for Q3 2014 in a brief summary statement.

In the statement, the company reports a consolidated revenue figure of 197.9 million Swiss francs ($207 million) for Q3, a 2.8% year-on-year decline. The inter-dealer broking business unit was down 1.9% and with all other business (including retail volume from Gaitaime in Japan) collectively falling 8.1%.

So Far in 2014

Year-to-date, CFT's consolidated revenue stands at 623.3 million Swiss francs ($653 million) compared to 679.5 million Swiss francs compared to the same period in 2013 - an 8.3% decline at current exchange rates. Since January, CFT's inter-dealer broking business has shed 6.1% while all other business including retail FX flow from Japan has declined 29.6%.

The sharp decline in retail Forex revenues at Gaitame is somewhat of a surprise considering a resurgence in retail flows across most Japanese brokers - although this has only been the case since September when forex volumes went through a renaissance.

In related news, earlier this month CFT partnered with the Johanesburg Stock Exchange to offer 3 new currency futures contracts aimed at proving investors with access to Liquidity in the South African rand, Zambian kwacha, Kenyan shilling and the Nigerian naira.

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