GAIN Capital today announced its monthly metrics for September 2013, showing an increase in OTC trading volume compared with the results achieved during August. The figures include activity from GFT which was officialy purchased by GAIN on September 24th.
On the retail side of the business, trading volume during September amounted to $129.9 billion, an increase of 5.5% from the $123.2 billion conducted during August 2013 and an increase of 45.0% from September 2012. Backing out several days of GFT volumes that were included in the totals, retail volumes would have been slightly lower to flat for the month, but higher on an average daily volume calculation, due to one fewer trading day in September.
2013 has been a positive overall trading year for many industry participants, most of whom have returned to form after last year’s contraction in volumes. GAIN Capital is indeed a case in point, the company having completed its acquisition of GFT for $40 million in September this year, marking a considerable investment for the company, five months after commencing the proceedings to purchase the firm.
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Average daily retail OTC trading volume during September reached $6.2 billion, an increase of 10.5% from August 2013 and an increase of 38.0% from September 2012, and the number of active retail OTC accounts was 105,536, an increase of 61.6% from August 2013 and an increase of 78.4% from September 2012. As stated above, the considerable rise in month over month account growth is due to the inclusion of GFT accounts in the total.
The number of Futures Daily Average Revenue Trades (DARTs) for September represented a downturn compared with last month, weighing in at 11,354, a decrease of 17.6% from August 2013 and a decrease of 8.1% from September 2012.
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By the end of last month, the firm had a total number of funded accounts of 131,068, an increase of 38.9% from August 2013 and an increase of 59.0% from September 2012.
Institutional FX Volume 3.1% Up MoM
Total institutional trading volume for GAIN Capital during September was $278.9 billion, an increase of 3.1% from August 2013 and an increase of 51.6% from September 2012.
The company achieved an average daily institutional volume of $13.3 billion during September, an increase of 8.1% from August 2013 and an increase of 36.6% from September 2012.
Acording to the firm, this operating data is preliminary and subject to revision and should not be taken as an indication of GAIN’s financial performance. GAIN undertakes no obligation to publicly update or review previously reported operating data.