The world’s largest forex broker by volume, Japan’s GMO Click Securities saw its trading activity surge for October to $354 billion in volume for the month (figures include OTC and Exchange Traded figures). October volume was 17% higher than September and 61% higher than October 2011. The surge in trading activity matched May 2012’s figures for the 3rd highest month in company history. The volume increase occurs after the company was hit hard during the summer months as August figures were recorded at $297 billion. The majority of the increase in October was due to GMO Click’s OTC segment which accounted for $345 billion versus its Click 365 Exchange unit which registered only $8.7 billion in volume.
Overall, the Japanese market continues to deal with regulatory changes last year which caused maximum leverage to be halved from 50:1 to 25:1. In response to the new laws, spreads at Japanese brokers have been dropping to in hopes of triggering greater activity from clients. While it may be too early to say that the Japanese market is experiencing a rebound, GMO’s October figures related well for the rest of the industry.
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