Invast Securities has reported its July 2016 monthly financial metrics, which pared the majority of last month’s gains in key areas, including revenues – the latest revenues constitute the second lowest reading in 2016 for the broker, according to an Invast statement.
Q8 Trade Gains Recognition for ‘Most Trusted Trading Platform in MENA’Go to article >>
For the month ending July 2016, Invast disclosed its operating revenues at $2.97 million (¥302 million), down -19.0% MoM from $3.7 million (¥373 million) in June 2016 – controlling for last month’s revenues, which reflected a departure from previous months, July’s revenues represent a continuing downtrend that has started in February. In addition, the latest revenues are the lowest in 2016, with the exception of a dismal May figure.
The steady decline in revenues and volumes has faced many other brokers in 2016, in H2 2016 and in the month following the Brexit referendum. July 2016’s operating revenues were also much lower than its 2015 equivalent – falling by a margin of -9.3% YoY from $3.28 million (¥333 million) back in July 2015.
Finally, Invast also released its total amount of deposited margin, which crept slightly lower MoM in July 2016, albeit by a marginal amount. As such, July 2016 saw $662.1 million (¥67.15 billion), relative to $$664.4 million (¥67.38 billion) in June 2016 or less than -1.0% MoM. Over a yearly timeframe, this figure was unchanged YoY from $693.6 million (¥70.36 billion) in July 2015.