GMO Click OTC FX Volumes Suffer September Slump

Although down against August, September's volumes are still stronger on a year-on-year comparison.

GMO Click, the retail brokerage unit of Japanese IT giant GMO Internet, has published its over-the-counter (OTC) foreign exchange (forex) trading for September this Thursday.

Many trading providers in the FX industry reported a solid uptick in trading during the month of August 2019 as volatility returned to the market. However, it appears that volatility has left as soon as it came, with GMO Click being the latest trading provider to report a slump in trading in September.

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Taking a look at the Japanese broker’s figures in the United States dollar, during the month of September, the firm reported a trading volume for OTC forex of $572.7 billion (¥61.6 trillion).

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When measuring this against the previous month, which had an OTC FX trading volume of $852.6 billion, last month’s volume on GMO Click has fallen by 32.8 percent. September’s volume is also below the average so far in 2019, which is $604.6 billion, by 5.3 percent.

Taking a step back, and comparing last month’s volume with that of the same period of the previous year (September 2018), the picture actually doesn’t look as bad for GMO Click. That’s because September of 2018 had a monthly volume of $477.3 billion. Therefore, last month’s figure is actually higher by around 20 percent year-on-year.

Exchange-traded volume on GMO Click

Taking a look at GMO Click’s exchange-traded volume, the same pattern appears – solid August and a notably weaker September. Specifically, the monthly exchange-traded volume for the month was $2.3 billion.

Against August of 2019, which had a monthly volume of $4.4 billion, this is lower by 47.7 percent. When weighing this against the same period of the previous year, September 2018, which had a monthly volume of also $2.3 billion, there is no change in terms of growth.

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