Monex Group’s DARTs, FX Volumes Cling to Narrow Gains in September

Monex Group's volumes managed to rebound in September, though TradeStation's DARTs faltered.

Japanese financial services firm Monex Group has reported its latest trading activity and aggregated volumes for the month ending September 2017. The group’s global DARTs pared a recent monthly decline, with its FX volumes influenced in large part by greater movement across the Japanese yen.

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Whereas August was a muted month for Japanese brokerages, volumes were much more pronounced during the month of September. On its part, Monex Group managed to notch a slight advance in terms of its DARTs on a monthly basis, rising off of its lowest recorded figure in H2 2017.

In September 2017, Monex saw its global Daily Average Revenue Trades (DARTs) climb to 263,056, moving 2.0 percent higher month-over-month from 257,715 DARTs set back in August 2017. While this does constitute slight growth, it is also the second lowest reading at Monex in H2 2017.

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Relative to the year prior, the latest figure in September did reflect a slight growth as well, with September 2017’s DARTs increasing by 4.7 percent year-over-year from 251,188 DARTs in September 2016 – of note, September featured a total of just 20 trading days compared to just 22 in August.

In addition, Monex Group’s total active accounts swelled to an all-time high of 1,036,609 in September 2017. This was a climb of less than 1.0 percent month-over-month from 1,034,340 in August 2017, however the group’s active accounts are up 1.8 percent year-to-date.

In terms of FX, Monex Inc. saw its average daily trade value surge to $1.28 billion per day (¥144.1 billion) in September 2017, up 47.5 percent month-over-month from $868.0 million per day (¥97.7 billion) in August 2017. DARTs also registered a monthly growth, en route to a reading of 172,099 in September 2017, compared with 160,516 DARTs in August 2017, or 7.2 percent higher month-over-month.

FX volumes were pointed higher in September due to a wider trading range of JPY pairs. Indeed, the yen was able to register broader moves against most majors during September 2017, namely the USD and EUR, with trading volatility kicking into high gear.

This trend did not extend to TradeStation’s DARTs however, which pared all of last month’s gains after rebounding in August. September 2017 saw just 91,133 DARTs, which corresponded to a drop of 6.7 percent month-over-month from 97,722 DARTs in the month prior. The decline was more pronounced over a yearly basis, dropping by 12.2 percent from 103,752 DARTs in September 2016. The number of trading days at TradeStation in September was 20 days relative to 23 in August.

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