Monex November 2015 Report: Expenses Back to Normal Levels
by
Dan Magen
November saw a return to average levels of expenses from last month's record low.
Monex Group Inc (TYO:8698) has released its monthly revenue data for November of fiscal 2016. Regarding expenses, following a record low in the previous month, November saw a return to average levels. Operating revenue rose JPY 96 million to 4,330 million, while financial expenses soared JPY 125 million to 426 million.
As a result of higher expenses, operating revenue minus expenses fell JPY 31 million lower from October, reaching 3,903 million. Compared to November 2014, this year's Monex performance was lower, with revenue minus expenses falling from last year's figure of JPY 4,038 million.
Low Volume Levels
Decline in revenues in November was anticipated, in parallel with low trading volumes. As November ended, Monex published volume data, revealing a record low since the company began publishing the figures in 2011. The declining Volatility in the Japanese yen and the decreasing appetite of Japanese investors to engage in carry trades are taking their toll on the performance metrics of Japanese brokers.
Looking at the specifics, the November figures declined by 20 per cent when compared to October, marking JPY 2.72 trillion. The state of the market in Japan proves to be widely dependent on the stimulus measures which the Bank of Japan has in place.
Retail traders have been keen to divest their savings and the Japanese have proven to have one of the most developed investment cultures in the world, housing the biggest brokers by volume, GMO Click and DMM Securities. With the Leverage limited at 25:1, the scope of the popularity of foreign exchange trading in the country can be put into perspective when compared to the rest of the world.
If we look at the general trend for trading volumes this year however, we are observing a substantial decline for a third consecutive month.
Monex Group Inc (TYO:8698) has released its monthly revenue data for November of fiscal 2016. Regarding expenses, following a record low in the previous month, November saw a return to average levels. Operating revenue rose JPY 96 million to 4,330 million, while financial expenses soared JPY 125 million to 426 million.
As a result of higher expenses, operating revenue minus expenses fell JPY 31 million lower from October, reaching 3,903 million. Compared to November 2014, this year's Monex performance was lower, with revenue minus expenses falling from last year's figure of JPY 4,038 million.
Low Volume Levels
Decline in revenues in November was anticipated, in parallel with low trading volumes. As November ended, Monex published volume data, revealing a record low since the company began publishing the figures in 2011. The declining Volatility in the Japanese yen and the decreasing appetite of Japanese investors to engage in carry trades are taking their toll on the performance metrics of Japanese brokers.
Looking at the specifics, the November figures declined by 20 per cent when compared to October, marking JPY 2.72 trillion. The state of the market in Japan proves to be widely dependent on the stimulus measures which the Bank of Japan has in place.
Retail traders have been keen to divest their savings and the Japanese have proven to have one of the most developed investment cultures in the world, housing the biggest brokers by volume, GMO Click and DMM Securities. With the Leverage limited at 25:1, the scope of the popularity of foreign exchange trading in the country can be put into perspective when compared to the rest of the world.
If we look at the general trend for trading volumes this year however, we are observing a substantial decline for a third consecutive month.
Interactive Brokers Posts Strong April Metrics, Daily Average Revenue Trades Soar 33%
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
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From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
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Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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