GMO Click’s FX Revenues Fall in Q3, Marking Tri-Quarter Decline

The Japanese broker saw waning FX revenues of $566.1 million in Q3 2016, constituting a decline of -11.8% QoQ from

Japanese broking giant, GMO Click, has reported its financial results for the third quarter of the 2016 fiscal year, which saw a mixed performance across key metrics relative to the same period over one year ago, according to a GMO Click statement.

In terms of total revenues, GMO Click reported a figure of $1.88 billion (¥222.8 billion), which represents a jump of 28.2% YoY from $1.47 billion (¥174.3 billion) over the same period last year.

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However, this growth in revenue was pared by a declining foreign exchange (FX) revenue, which waned to $566.1 million (¥67.0 billion) in Q3 of the 2016 fiscal year. This constitutes a decline of -11.8% QoQ from $642.1 million (¥76.0 billion) in Q2 of the 2016 fiscal year and -2.9% YoY from $582.9 million (¥69.0 billion) in Q3 last year.

More specifically, the Q3 revenues of the 2016 fiscal year included a diminishing net trading income of $582.9 million to $430.9 million (¥51.0 billion), shrinking by a factor of -8.9% QoQ from $473 million (¥56.0 billion) last quarter. Over a yearly timeframe however, Q3 2016’s net trading income was congruent with its 2015 counterpart.

Finally, GMO Click’s Q3 2016 financial income and commission each came in at $59.1 million (¥7.0 billion) respectively, which both underscore a QoQ and YoY decline.

Earlier this month, GMO Click reported its December 2015 FX volumes, which had successfully snapped a multi-month decline. This included volume that reached ¥0.856 trillion, having leapt 18% MoM from the equivalent figure for November 2015 (¥0.725 trillion).

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