Compagnie Financière Tradition (CFT), the Switzerland-based parent company of Japanese foreign exchange (forex) broker Gaitame, has published details on its financial performance for the first quarter of 2020 this Friday.
The core business of CFT is to ensure liquidity in the financial markets across different asset classes globally. Therefore, during the first three months of this year, the Swiss company saw a significant increase in business volumes.
During Q1 of 2020, the company reported consolidated revenue of CHF 227.3 million ($232.6 million), which is higher than the same quarter of the previous year, which posted CHF 240.2 million in consolidated revenue, by 20.5 per cent.
The first three months of this year have been highly influenced by the coronavirus pandemic, which has caused very high volatility in the financial markets, particularly during the month of March. These high levels of volatility have made the job of liquidity providers even harder and, no doubt, busier.
Bitcoin: Can it Hit 100k in 2021?Go to article >>
For the same three month period, the Swiss-based parent company achieved consolidated adjusted revenue of CHF 303.5 million. This represents an increase of 20 per cent against the CHF 263.6 million consolidated adjusted revenue noted in Q1 of 2019.
Gaitame Q1 revenue up 17.9% MoM
Throughout the first quarter of 2020, the Group’s forex trading business for retail investors in Japan, which is the operations of Gaitame, saw an increase of 17.9 per cent in adjusted revenue. CFT did not provide exact figures for the actual revenue achieved.
At the same time, for the company’s interdealing broking business, adjusted revenue rose by 20.1 per cent in constant currencies, the statement released this Friday showed.
In addition to providing an overview of its performance in the first quarter, CFT also outlined that although historically the company generally sees a reduction in volatility in the financial markets in April month-on-month, volatility continues to remain high in April.