DMM Securities Volumes Drop Back Below $1T in July – Hotspot and FXCM Up Next
- Japan’s and the world’s second largest retail broker by volume, DMM Securities, has reported its July trading volumes. During the month, clients traded $958.5 billion, 10% below June’s record volume of $1.069 trillion.
Japan’s and the world’s second largest retail broker by volume, DMM Securities, has reported its July trading volumes. During the month, clients traded $958.5 billion, 10% below June’s record volume of $1.069 trillion. The decline comes as brokers and trading venues have reported a sharp drop in yen related activity during July. As such, DMM’s 10% contraction in volumes isn’t surprising, and can be viewed positively when compared to 15% and more declines seen at Monex Group, EBS, and Thomson Reuters. After today’s figures, GMO Click becomes the only broker to top $1 trillion during July, as the broker solidified its hold on the top spot among retail brokers.
Later today, KCG, operator of the Hotspot FX ECN and FXCM are scheduled to announce their quarterly financials, with volume figures expected to be released as well. Since finalizing the GETCO/Knight Merger Merger A merger is defined as the absorption of the interest of another. It can include an estate, or contract. There are no specific rules or formats for a union in general. It is a method of combining two or more organizations, business concerns, or other related interests. The terms of a merger are usually by agreement of the parties involved. In the financial sphere, merger refers to an agreement between two or more companies or corporations, public and private, to merge into one entity. Mergers d A merger is defined as the absorption of the interest of another. It can include an estate, or contract. There are no specific rules or formats for a union in general. It is a method of combining two or more organizations, business concerns, or other related interests. The terms of a merger are usually by agreement of the parties involved. In the financial sphere, merger refers to an agreement between two or more companies or corporations, public and private, to merge into one entity. Mergers d and rebranding as KCG, shares of the new formed company have struggled. KCG stock has fallen over 25% to a recent $8.61 since reports surfaced that US regulators were looking into high frequency trading among Market Makers Market Makers Market makers or called dealing desk brokers represent a type of broker that internalize flows and are taking the opposite side of a transaction submitted by their clients. The market making broker is only quoting a feed of prices to its clients. These feeds may or may not be the exact same as the prices quoted on the interbank market.Any order a client enters is processed internally and never goes out to the market, except in rare cases where a market making brokerage identifies a client as a v Market makers or called dealing desk brokers represent a type of broker that internalize flows and are taking the opposite side of a transaction submitted by their clients. The market making broker is only quoting a feed of prices to its clients. These feeds may or may not be the exact same as the prices quoted on the interbank market.Any order a client enters is processed internally and never goes out to the market, except in rare cases where a market making brokerage identifies a client as a v . In addition, the firm has recently announced the divesture of reverse mortgage originator, Urban Financial Group for $80 million. As such, while Hotspot FX remains entrenched within KCG, and there haven’t been any signs of a desire to sell the group, we could see the ECN come into discussion during the company’s conference call later today. In regards to FXCM, it will be worth watching how their volumes fared in July with the decline in yen trading. The broker has been a beneficiary of the spike in yen activity during 2013, achieving record volumes, however their revenues per million has dropped as a result of lower margins in yen crosses.
Japan’s and the world’s second largest retail broker by volume, DMM Securities, has reported its July trading volumes. During the month, clients traded $958.5 billion, 10% below June’s record volume of $1.069 trillion. The decline comes as brokers and trading venues have reported a sharp drop in yen related activity during July. As such, DMM’s 10% contraction in volumes isn’t surprising, and can be viewed positively when compared to 15% and more declines seen at Monex Group, EBS, and Thomson Reuters. After today’s figures, GMO Click becomes the only broker to top $1 trillion during July, as the broker solidified its hold on the top spot among retail brokers.
Later today, KCG, operator of the Hotspot FX ECN and FXCM are scheduled to announce their quarterly financials, with volume figures expected to be released as well. Since finalizing the GETCO/Knight Merger Merger A merger is defined as the absorption of the interest of another. It can include an estate, or contract. There are no specific rules or formats for a union in general. It is a method of combining two or more organizations, business concerns, or other related interests. The terms of a merger are usually by agreement of the parties involved. In the financial sphere, merger refers to an agreement between two or more companies or corporations, public and private, to merge into one entity. Mergers d A merger is defined as the absorption of the interest of another. It can include an estate, or contract. There are no specific rules or formats for a union in general. It is a method of combining two or more organizations, business concerns, or other related interests. The terms of a merger are usually by agreement of the parties involved. In the financial sphere, merger refers to an agreement between two or more companies or corporations, public and private, to merge into one entity. Mergers d and rebranding as KCG, shares of the new formed company have struggled. KCG stock has fallen over 25% to a recent $8.61 since reports surfaced that US regulators were looking into high frequency trading among Market Makers Market Makers Market makers or called dealing desk brokers represent a type of broker that internalize flows and are taking the opposite side of a transaction submitted by their clients. The market making broker is only quoting a feed of prices to its clients. These feeds may or may not be the exact same as the prices quoted on the interbank market.Any order a client enters is processed internally and never goes out to the market, except in rare cases where a market making brokerage identifies a client as a v Market makers or called dealing desk brokers represent a type of broker that internalize flows and are taking the opposite side of a transaction submitted by their clients. The market making broker is only quoting a feed of prices to its clients. These feeds may or may not be the exact same as the prices quoted on the interbank market.Any order a client enters is processed internally and never goes out to the market, except in rare cases where a market making brokerage identifies a client as a v . In addition, the firm has recently announced the divesture of reverse mortgage originator, Urban Financial Group for $80 million. As such, while Hotspot FX remains entrenched within KCG, and there haven’t been any signs of a desire to sell the group, we could see the ECN come into discussion during the company’s conference call later today. In regards to FXCM, it will be worth watching how their volumes fared in July with the decline in yen trading. The broker has been a beneficiary of the spike in yen activity during 2013, achieving record volumes, however their revenues per million has dropped as a result of lower margins in yen crosses.