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 March 2016, which incurred a notable decline across the board with these trading instruments, according to a recent Kabu.com release.
During March 2016, Kabu’s FX and contract-for-difference (CFD) volumes were unable to orchestrate a consecutive monthly growth, instead paring all of last month’s gains and diving to just ¥47billion ($421 million) – this corresponded to a MoM loss of -44.7% from ¥26 billion ($233 million) in February 2016.
Crypto Daily Sponsors Singapore’s 2019 Run for Light EventGo to article >>
In addition, the group’s futures and options business experienced a similar weakness during March 2016, reporting a figure of just ¥99 billion ($888 million) vs. ¥128 billion ($1.15 billion) back in February 2016, or -22.7% MoM. The sizable declines across each of these trading instruments was further magnified by the differential in trading days for the month. Despite netting an additional two trading days in March 2016 (22) vs. only 20 trading days in February, volumes could not secure any momentum.
The number of accounts at Kabu also reversed from last month, and despite showing strong growth in each month during the new year, it managed to erase all 2016 gains after falling to just 5,089 accounts in March 2016. This was reflective of a loss of -18.9% MoM from 6,277 accounts in February 2016. The figure still remains above a 2016 low of 5,073 accounts set back in January 2016.