The Japan-based online trading broker GMO Click Securities that operates as a wholly-owned subsidiary of GMO Internet Inc., has today reported monthly trading volumes for its OTC FX and Exchange traded FX business lines.
During the month, OTC FX volumes were $717.3 billion, 10.3% below January’s figures, while exchange traded Click365 FX trading fell 17.4% to $3.75 billion. Overall, total volumes during the month were $721 billion.
Forex Magnates spoke with a company spokesperson for comments about the decrease in volumes over the prior month, as well as the effects of February having had two less trading days than the month before.
The company said it thought the lower volumes were due to the easing of volatility in the Japanese yen, as well as the fewer number of business days in February, as noted above.
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Low Yen Volatility Said to Have Caused Ease in Trading Volumes
The Japanese yen is the underlying currency that is the focal point for many of the company’s clients who like to trade related currency pairs priced in ¥, which in turn helps to make GMO one of the world’s largest retail FX brokers by trading volume.
The brand recently highlighted its leading position in its market share of retail volumes globally, a figure that doesn’t appear easily refutable.
Forex Magnates last reported when certain other figures were released for the FX Prime business line of GMO Corporation, after it added functionality to its MirrorTrader platform offering -developed by Tradency, as social-network style copy trading/mirror trading has gained considerable ground in Japan for some time already.