MONEX Group Announces Monthly Metrics For July 2013 – Volumes Down 30%

Following last week’s full report by Japanese OTC derivatives and stock trading firm MONEX Group which included full statistics relating to the end of the first operating quarter of the current fiscal year for the company, MONEX has now produced the monthly metrics of its subsidiaries for July.

The FX division of the company arrived at the end of July with an average daily volume (ADV) figure of more than double that of the same month during the previous year. However, on a MoM comparison, volumes fell over 30% from June, marking Monex Japan’s lowest month of activity since December 2012.  Overall, total volumes for July were about $26.2 billion, which is only 50% of the record highs achieved in April.  The decline in July figures matches similar results from the CME and TFX which saw their forex volumes drop as a result of severe contraction in yen related trading after a great start earlier in the year.

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Traders Stepping Up The Pace

On a positive note, total accounts continues to hold steady, with end of July 2013 figures showing the broker had 65,648 forex traders, compared to 54,726 at the same period in 2012.  The account growth represents that additional customers have become interested in forex trading as a result of the renewed activity of the yen during 2013.

Steady Uptrend in US

MONEX subsidiary TradeStation made slight increases in the number of client assets that it holds, with $3,289 million in custody in July this year, compared to $2,694 million for the same period one year previous, representing a steady increase in business for the firm’s US operations.  The non-Japanese brands also showed an uptick in forex volumes, as July trading rose to $28.8 billion from $27.8 billion in June.