Japanese brokerage Gaitame has announced its latest set of figures for the month of July. The company has managed to overshoot its stellar performance in June around the Brexit vote and onboard over 3,000 new clients during the month.
According to the data, Gaitame’s traders have netted $261 billion of transactions during the month. The figure is higher than last month’s by 3 per cent, but lower when compared to last year by 6 per cent.
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Gaitame is one of the biggest Japanese brokerages and its volumes are greatly impacted by the latest bouts of volatility on the foreign exchange market. The numbers in July were affected materially by the surprise rates and bond purchases decision by the Bank of Japan as well as the ongoing aftermath of the Brexit vote.
The typical seasonal slowdown during the summer months has been mitigated this year. Japanese yen traders have been very active throughout the month as expectations for fresh fiscal and monetary stimulus have played a big role in volatility.
Gaitame maintained its momentum in adding new clients with 3,010 customers added in July when compared to 2,923 in June. The total number of deposits held at the brokerage has increased only marginally to ¥110 trillion after peaking out in June.