Despite increases in Click 365 and GMO Click Securities trading volumes for October, Japan’s second largest retail FX broker by volume reported a decline in activity versus its September figures. For the month, DMM reported $268 billion in volume compared to $275 billion in the previous month. The rise in September volumes from $161 billion in August reflected the end of summer trading as well as the broker also including figures from its recently purchased Gaitame Japan brokerage. As such, with other Japanese venues reporting better further increases in October versus September, DMM’s numbers were a little surprising. Forex Magnates reached out to DMM about the drop in volumes and whether their was a catalyst behind the decline such as Gaitame clients trading less or closing their accounts after the merger. A DMM representative responded that the broker didn’t see any specific reason and perhaps the fall was due to September being a very good month versus any negative factors in October.
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