Leading Japanese-based brokerage firm, Monex’s January financials are reported lower on a month-on-month basis. The firm saw a decline in its operating metrics which equated to $37 million, a drop of 10% from $40.4 million reported in December. The news follows on from the firm’s January volumes data, which was also in the red, on a MoM basis.
The global provider of securities, futures and OTC financial products has seen overall operating revenues increase from the beginning of the current financial year. Since the post-summer volatility boost, the firm has seen monthly revenues above $35 million.
The FBS CopyTrade Team Presents a New 'FBS CopyStar' ContestGo to article >>
During the month, the firm also saw a rise in its financial expenses, which totalled $5.1 million, from $3.2 million reported in December. The additional expenses are believed to be adjustments the firm made in the value of negative client balances that occurred due to the SNB fall out. The firm reported that it suffered negative balances of $1.3 million, which had no material impact on the broker.
January is regarded as a slower month in financial trading, however the geopolitical issues coupled with the Swiss franc issue heightened volatility and some providers reported an increase in trading volumes.