One of the biggest publicly listed brokers GAIN Capital has published its monthly volume metrics for the month of March in a press release. The retail side of business has marked a rise to $184.6 billion, which is higher by 9% over the month of February and by 31.1% over last year’s figures. That said, the year-on-year increase is primarily due to the GFT acquisition that the company has concluded last year.
Retail Trading Volumes
The average daily volume (ADV) on retail trading accounts was $8.8 billion, which is higher by 3.9% from February, while the number of active trading accounts has remained unchanged over last month around 96,614, which is also higher by 57.5% over last year’s figures.
It’s worth pointing out that the year-on-year difference between account numbers and monthly volumes is quite stark – while the number of accounts has increased markedly, volumes have done so at a bit more than half the rate of active accounts number increase. This means that the average trading activity per account has decreased substantially over last year.
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The futures Daily Average Revenue Trades (DARTs) have totalled to 23,884, which is a whopping increase by 40% over February’s numbers and 78.2% higher that a year ago. Apparently there is a substantial amount of trading activity that is moving from FX to Futures trading.
The total number of funded accounts has come out at 138,307 – higher by 4% over last month.
Institutional Trading Volumes
On the institutional side of GAIN Capital’s business volumes, the numbers have totalled to $441.7 billion, which is higher by 7% over February and by 63.9% over last year’s figures. The average daily volume has increased more modestly by 1.9% over last month to $21 billion, which is still higher by 63.9% over the same period in 2013.
The company’s GTX unit that provides FX ECN services to institutional investors including hedge funds has marked the month with an increase of 9% to $404.2 billion. This figure is precisely 50% higher than in March 2013. The average daily volume has come out at $19.2 billion, or 3.8% higher than in February.