GAIN Capital Announced Q3 Metrics, Reports 52% Increase in Net Revenue

The FX broker reported retail OTC trading volume of $394.8 billion, up 42% from $278.7 billion Q3 2012. GAIN's CEO

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The NYSE listed FX broker,  GAIN Capital Holdings, Inc. announced its Q3 2013 Metrics today, showing significant increases in revenues and trading volumes over same quarter last year. According to GAIN’s report, the two main drivers of the growth were its institutional business and the acquisition of GFT in September 2013.

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GAIN’s institutional platform, GTX, which saw double-digit growth could be attributed to the strong rise in GAIN institutional business according to Glenn Stevens, the company’s CEO. GTX’s revenue was $6.9 million in the third-quarter, compared with $4.2 million in the third-quarter of 2012. GTX trading volume was $901.3 billion, compared with $503.6 billion a year earlier.

GAIN’s retail OTC trading business in the third-quarter of 2013 generated increases, that the CEO explained was due to the successful acquisition of GFT, which provided GAIN with larger scale and significantly expanded their non-forex product offerings. Retail trading brought in a revenue of $50.9 million, compared with $34.3 million in the third- quarter of 2012. Total trading volume was $394.8 billion, compared with $278.7 billion a year earlier. Total funded accounts totalled 131,068 compared with 82,411 a year earlier. “We believe GFT is a transformational acquisition for GAIN…GFT deepens our global footprint, with an increased presence in key European, Middle Eastern and Asian markets,” Stevens said in a press release published today.

Key 3rd Quarter 2013 Metrics, compared to Q3 2012:

  • Net revenue of $60.6 million, up 52% from $40.0 million, including $2.8 million of GFT revenue
  • Adjusted EBITDA of $12.0 million, up 90% from $6.3 million
  • Net income of $4.7 million, up 42% from $3.3 million.
  • Retail OTC trading volume of $394.8 billion, up 42% from $278.7 billion
  • Institutional trading volume of $901.3 billion, up 79% from $503.6 billion
  • Total retail client assets of $684.1 million, up 60% from $426.6 million
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