Monex Group Reports A Month-On-Month Decrease In July Metrics

Today's statement indicates a decrease in July’s DARTS bringing Monex back onto a downward trend.

Monex Group has published its July 2016 business metrics showing a decrease over June’s figures. Last month saw the Japanese broker experienced an upturn in Daily Average Revenue Trades (DARTs), reporting figures of 293,426, deviating slightly from a continuing downward trend seen since January this year.

July Metrics

Today’s figures however reveal that DARTS are once again down to 275,082, representing an decrease of 6.3 percent MoM, compounded by an annual decrease of 11.2 percent decrease compared with July 2015’s figures of 309,814.

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Despite the month’s downturn, July saw a slight increase in accounts at Monex rising to 1,655,294 accounts from 1,649,847 in June 2016, or a marginal 0.3 percent MoM. Moving onto Monex’s FX business, the number of over-the-counter (OTC) FX accounts tallied at 228,124 showing a slight increase over June’s figures of 227,043 or 0.5 percent MoM.

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Still on the broker’s FX OTC business, Monex recorded an average trade value per business day of ¥135,405 billion ($13.3 billion) compared with ¥149,991 ($14.7 billion) in June, or a decrease of 9.7 percent MoM.

TradeStation also saw DARTs decrease to 97,313 in July from 109,117 in June, reflecting a fall of 10.8  percent MoM. In terms of active account numbers, July figures were 62,018  compared with 62,185 in June, or a marginal decrease of 0.27 percent MoM.

Net Profit & Revenue

In what has been a challenging quarter, Monex Group last week reported a decline in net profits to ¥261 million ($2.5 million), down 78 per cent YoY. The result was marked on a total of ¥10.6 billion ($101 million), a number which has declined 17.9 per cent YoY. The figures were the lowest quarterly results for Monex since the first quarter of fiscal 2015.

The brokerage also reported that it had reduced the headcount of its U.S. centered TradeStation unit in response to declining trading volumes in the U.S. market. Monex is cutting around 100 employees in its U.S. offices.

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