Japanese global multi-asset platform and brokerage operator, Monex Group Inc, has reported its February consolidated financial results. The figures reveal that the operator’s net operating revenues shot up higher by 12% year-on-year to mark $32.1 million (¥3.8 billion), putting the company on track to deliver a back-to-back increase in net revenues for a second quarter in a row.
After an unusually volatile final month of fiscal Q3, Monex Group Inc’s year-on-year revenue growth has been on a positive track. The company’s figures in Q3 have been reported higher by almost 5%.
In the final quarter of fiscal 2015, ending on March 31st, the company has so far reported a January which is more or less in line with fiscal 2014 and a stronger month of February. Due to base effects from the low volatility period in the beginning of 2014, there is a uniform expectation that the final month of the quarter will be materially stronger than March 2014.
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The EUR/USD has marked a new multi-year low just below 1.05, while the crucially important Japanese yen has hit a new low against the U.S. dollar. Despite this, the most traded currency pair in Japan remained range bound for the most of the month of March.
Trading volumes may be affected by the move, but should be compensated with higher volatility across the euro crosses and the very low base effects when compared to last year’s numbers, when the firm reported a month-on-month contraction in revenues for March.
Sources across the industry have shared with Forex Magnates’ reporters that trading volumes figures for the month of March are on track to be much higher than last month.