Kabu.com, a subsidiary of Mitsubishi UFJ (MUFJ) has disclosed its preliminary results for its trading volumes, including foreign exchange (FX), futures, and options for the month ending August 2016, which incurred a notable decline across the board with these trading instruments, according to a recent Kabu.com release.
Stocks to Watch This Week – Expedia Group, IncGo to article >>
During August 2016, Kabu’s FX and contract-for-difference (CFD) volumes were unable to orchestrate a consecutive monthly growth, instead paring all recent gains, subsequently diving to just ¥30.9 billion ($298.3 million) – this corresponded to a MoM loss of -30.1% from ¥44.2 billion ($426.7 million) in July 2016.
Despite netting an additional two trading days in August 2016 (22) vs. only 20 trading days in July, volumes could not secure any momentum. In addition, the group’s futures and options business experienced a slight uptick during August 2016, which saw its accounts grow to 52,402 for the month, up less than 1.0% MoM from 52,226 accounts in July 2016.
Additionally, over-the-counter (OTC) FX trading accounts also managed to grow tepidly in August, climbing to 85,700, up from 85,175 in July 2016, or less than 1.0% higher MoM.