Yesterday we saw volume figures from GMO Click Securities, the world’s largest forex broker by volume, today DMM Securities, the second largest broker has reported their results. During the month, volumes rose 12.8% from September to $553 billion (¥54.6T). The growth snapped three months of volume declines since the broker achieved an all-time of $1.069 trillion in June of this year. The figures also contrast the numbers from other Japanese firms such as GMO Click and Monex Group who saw volumes drop in October. In addition, public trading venues such as EBS and the CME have also reported declines in FX activity last month.
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In contrast to DMM Securities, Japanese multi-asset securities broker, Monex Group, experienced a drop in its FX volumes. During October, Japanese FX volumes fell nearly 14% to around $23.4 billion. Total Monex FX volumes, which include rest of world (RPW) trading at its IBFX and Tradestation subsidiaries was $40.8 billion. The ROW figure of around $17.4 billion marked a multi-year low. Since overtaking ROW in April, Japanese volumes compose the majority of FX trading at the overall Monex Group.