Poor trading conditions and increased regulatory scrutiny have been cited as the main reasons for the decline, while the firm's Japanese retail business Meitan Tradition sheds 37.2%, when compared to 2013.
According to a company announcement, the first half of 2014 has been slower for Switzerland-based Compagnie Financière Tradition, with revenues coming in at CHF 425.4m, which is down 7.8% in constant currencies and lower by 10.6% in constant exchange rates terms. The challenging market environment and the ongoing market structure changes in the over-the-counter (OTC) derivatives markets associated with increased regulatory scrutiny have been cited as the main reasons for the decline in revenues at the company.
The firm's adjusted revenue from inter-dealer broking business (IDB) was reported down 7.8% in constant currencies, while the firm's Japanese retail
business, Meitan Tradition, has shed 37.2%, as the one-off increase in volumes following the unprecedented monetary easing by the Bank of Japan in April last year. The resulting overall Asian business decline can be clearly seen on the table below, which has the revenue streams of the company broken down by regions.
Revenues by Region, Business, Year-on-year comparison
, bringing record trading volumes for both May and June.
For the second quarter, the company's consolidated revenue has totalled CHF 203.8m, which is lower by 12.8% in constant currencies from Q2 2013. Inter-dealer broking business (IDB) was down 13.0%, while non-IDB shed 48.6%.
According to a company announcement, the first half of 2014 has been slower for Switzerland-based Compagnie Financière Tradition, with revenues coming in at CHF 425.4m, which is down 7.8% in constant currencies and lower by 10.6% in constant exchange rates terms. The challenging market environment and the ongoing market structure changes in the over-the-counter (OTC) derivatives markets associated with increased regulatory scrutiny have been cited as the main reasons for the decline in revenues at the company.
The firm's adjusted revenue from inter-dealer broking business (IDB) was reported down 7.8% in constant currencies, while the firm's Japanese retail
business, Meitan Tradition, has shed 37.2%, as the one-off increase in volumes following the unprecedented monetary easing by the Bank of Japan in April last year. The resulting overall Asian business decline can be clearly seen on the table below, which has the revenue streams of the company broken down by regions.
Revenues by Region, Business, Year-on-year comparison
, bringing record trading volumes for both May and June.
For the second quarter, the company's consolidated revenue has totalled CHF 203.8m, which is lower by 12.8% in constant currencies from Q2 2013. Inter-dealer broking business (IDB) was down 13.0%, while non-IDB shed 48.6%.