Leading Japanese FX broker-dealer DMM FX has reported financial trading volumes for the month of November. Trading volumes were higher than those reported in October by 15%. The brokers reported to Forex Magnates that its total volume surpassed nine hundred and sixty billion US dollars. The numbers coincide with strong data from DMM’s rivals, Monex and GMO, although Monex reported an increase while GMO was flat. On the other hand, European brokers and exchanges have seen a drop in activity.
The Tokyo-based currency provider’s volumes continue to rise as market volatility picks up and traders re-enter the market in the yen. The current figures for November, totalling $960.4 billion, represent an average daily volume of $48 billion. DMM, alongside GMO, was one of the few Japanese brokers that surpassed the formidable one trillion dollar mark in monthly volumes. Japanese trading volumes are an important gauge for observers in the retail FX broking environment of the overall performance of the sector.
NEXT BLOCK SOFIA 2.0 + Fabulous Blockchain After-PartyGo to article >>
European-based firms have seen a U-turn in activity after the dramatic two month spree of intense volatility in September and October. On the retail front, Danish brokerage firm Saxo Bank reported lower monthly volumes alongside inter-dealer FX provider EBS.