DMM, the second largest Japanese forex broker, reported September figures and its consolidated volume surged thanks both to the improved volatility and due to including Gaitame Japan’s numbers. PLANEX recently sold its Gaitame Japan brokerage as well as its FX consulting business to DMM for a total of $51 million.
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The merged company reported $275 billion volume in September, a huge improvement over August figures which showed just $161 billion in volume. DMM is now breathing down GMO’s neck and may replace it as Japan’s number one broker if this pace continues. GMO Click Securities reported $293 billion in volume (excluding its exchange business, which was another $7 billion) in September.