GMO Sees Highest Volumes in Almost Two years

The Japanese broker reported its best volumes since March 2018 in August

Japanese retail broker GMO Click released its currency trading volumes for August of this year on Wednesday.

The group saw a substantial increase in trading when compared to July.

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Total trading in foreign exchange, with the Japanese yen as the base currency, totaled just over 91 trillion yen ($860 billion).

The overwhelming majority of that volume – 90.6 trillion yen – was traded over the counter, with the remaining transactions carried out on an exchange.

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This was a sizeable increase on June when GMO reported yen-based trading volumes of 55.8 trillion yen.

In fact, last month saw the retail broker’s highest trading levels in 2019. The only month that the group even came close to doing as well as it did in August was in January when it reported a total of 85.7 trillion yen in trading volume.

USD trading up

Things were similarly positive in the broker’s US dollar-based trading.

The group reported a total trading volume of just over $857 billion for August. Again, the bulk of this was over the counter, with just $4.4 billion of the total amount taking place on the exchange.

As with the yen, this was the highest level of trading that GMO has seen in 2019. March of 2018, when the group reported a USD-based trading volume of $962 billion, was the last time GMO saw higher volumes than August.

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