DMM Securities March Volumes Down 5.3% MoM to $517.9 Billion

Last month volumes fell by $29.3 billion in total for Tokyo-based DMM.com. When compared to February, this decrease is about

dmm-fx-logoJapan-based Forex broker DMM.com has released trading volume totals for the month of March, reported at $517.9 billion or just over 54 trillion yen, which is lower by 5.3% Month-over-Month, when compared to the company’s February totals.

Last month Forex Magnates reported the company’s February volumes which at the time had been 29% lower than January, thus March’s drop of 5.3% is indicative of a slow-down in that decrease although it’s still decreasing for two months now.

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This decreased downward momentum of trading volumes may indicate a recovery for volumes across the broader market of Japan-based online FX brokers, if they follow with similar results – after a large number of firms in the region had a slower second month after January’s surge – which might indicate that volumes are normalizing back to a trailing average over the last few quarters.

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For example, with regards to March over February, GMO Click one of DMM’s main competitors in terms of comparable size, reported just days ago that it too had a nearly 5% drop in trading volumes last month, when compared to February.

However, when compared to last summer, volumes are around 50% lower for some of Japan’s brokers who had brief reached the $1 trillion mark for monthly totals, and after record foreign exchange volumes had been recorded at the start of Q2 2013, according to the latest Triennial BIS survey.

Further coverage to follow, around time of publication by Forex Magnates.

 

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