Kabu, a Mitsubishi UFJ subsidiary, has announced its monthly business figures for the month of July 2017 which show a drop in the number of active accounts as compared to the previous month. This has led to a drop in trading volumes as well.
The number of newly opened accounts declined by 45 (-1.1%) from the month of June, while the number of active accounts declined by 3,270 (0.6%) as many traders chose to withdraw their balances during the month. This was probably due to the fact that it is a summer holiday period in Japan, and maybe traders chose to withdraw their balances to fund their travel and holidays.
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The number of futures/options rose by 124 though (+0.2%) but this was not enough to prop up trading volumes which declined by 15%, coming in at 2,015.85 billion yen ($18.31 billion), down from 2387.5 billion yen ($21.7 billion) the previous month.
The average number of daily contracts also went down by 2731 (-2.29%) to 116,238 contracts against 118,969 contracts from the previous month. The number of shop front FX accounts however increased by 436 (+0.4%) to 90,493 in the month of July.
Due to this, we believe that Kabu’s results for July, when they come out, are likely to also show a decline in trading volumes and general revenue.