The NYSE listed FX broker, GAIN Capital Holdings, Inc., has announced its Q4 2013 metrics today, showing significant increases in revenues and trading volumes over the previous quarter, most likely thanks to the integration of GFT into the company. GAIN’s financial results for the full-year of 2013 were also announced.
Fourth Quarter Metrics Compared to Previous Quarter:
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- Net revenue of $83.0 million, up 37% from $60.6 million.
- Net income of $4.3 million, down 8.5% from $4.7 million.
- Adjusted EBITDA of $13.7 million, up 14.2% from $12.0 million.
- Retail OTC trading volume of $508.0 billion, up 28.7% from $394.8 billion.
- Institutional trading volume of $1.1 trillion, up 22% from $901.3 billion.
- Total retail client assets of $739.3 million, up 8% from $684.1 million
In the fourth quarter of 2013, GAIN’s retail OTC trading business generated revenue of $61.4 million and total retail trading volume during the quarter was $508.0 billion. For the whole year of 2013, GAIN’s retail OTC trading business generated revenue of $205.1 million, compared to $127.5 million in 2012. Total retail trading volume in 2013 was $1.8 trillion, compared to $1.3 trillion in 2012.
The institutional business, comprising GTX and sales trader businesses, generated a total revenue of $17.7 million in the quarter. Institutional trading volume was $1.1 trillion in the fourth quarter of 2013. For the whole year the institutional business generated total revenue of $38.6 million, compared to $13.5 million in 2012. Institutional trading volume was $4 trillion in 2013, compared to $2 trillion a year earlier.
2013 Yearly Metrics Compared to 2012:
- Net revenue of $266.4 million, up 76% from $151.4 million
- Net income of $31.3 million, or $0.79 per diluted share, up from $2.6 million, or $0.07 per diluted share
- Adjusted net income of $33.8 million, or $0.85 per diluted share, up from $4.0 million, or $0.11 per diluted share
- Adjusted EBITDA of $61.0 million, up 450% from $11.1 million
- Retail OTC trading volume of $1.8 trillion, up 38% from $1.3 trillion
- Institutional trading volume of $4.0 trillion, up 103% from $2.0 trillion
Glenn Stevens, CEO of GAIN Capital, commented on the yearly results in the announcement: “2013 was a transformational year for GAIN, thanks to our acquisition of GFT and the successful execution of organic growth initiatives. The GFT acquisition gave our retail OTC business increased scale, and a broader client base and product offering, while expanding our global presence. We also executed on our revenue diversification strategy through the growth of our commission business, driven by an almost three-fold increase in revenue from our institutional business.”