Monex Arrests Decline in Monthly Forex Trading Volumes, While YoY FX Volumes Decline 42%

Monex Group Inc, the Tokyo-based brokerage, reported today trading volumes and metrics for August 2014.

The number of DARTs (Daily Average Revenue Trades) declined from 294,064 in July to 289,854 in August (1.4% decline). In the same month last year, Monex reported 335,284 DARTs which means a year-on-year decline of 15.4%. However, it is worth bearing in mind that August had one less trading day than July.

Global FX trading volumes in August rose 1% compared to July, arresting 6 consecutive months of declines. The most standout figure from these August metrics is the year-on-year drop in FX volumes compared to August 2013. In August last year, Monex reported $50.8 billion in monthly trading volumes whereas this year that figure has fallen to $29.3 billion (a 42% decline).

One positive aspect for Monex is the growth of active accounts using the venue to transact equity business. Monex reported a 3.8% YoY and 0.3% MoM increase in active stock brokerage accounts.

In terms of FX OTC accounts the picture once again turns sour. Monex reported 62,024 active FX active accounts in August 2014 compared to 65,242 at the same time last year - a 5% decline. Month-on-month the trading venue added 77 active accounts, up from 61,947 in July (+0.12%).

Average trade value in the stock brokerage unit remained broadly flat when compared to last year and the previous month, whereas FX daily trade value increased from ¥5.37 billion in July to ¥6.45 billion in August (+20%). Year-on-year average trade volume declined 43% from ¥11.3 billion in August 2013.