Monex Publishes Final YTD Results,Upward Revisions Not Found
by
George Tchetvertakov
The Tokyo-based broker publishes final results which highlight difficulties in all business units overcast by lower market volatility and compressed fee structures across the industry. Despite growing client numbers and deposits, revenues are down.
Monex revised its preliminary total operating revenue figure of ¥22,800 million up to ¥23,038 million (~$212 million). The company's costs and expenses were unchanged and the reported quarterly net loss of ¥304 million also remains unchanged.
The sharp fall in the Group’s overall performance is also reflected in the results of Monex Inc. – the Japanese-based subsidiary offering retail FX trading services. The comparatively better performance of Monex Inc. compared to Monex Group means that Monex Inc. now accounts for approximately 65% of the company’s total revenue.
On the flip side, Monex reports higher levels of client deposits, segregated capital and monies held in trust accounts. Client deposits rose from ¥53,193 million to ¥62,590 million and segregated capital rose from ¥192,897 million to ¥221,792 million.
TradeStation
"With a steady increase in customer assets and the number of accounts, TradeStation
remains competitive," said Monex Inc in an investor presentation. Adding, "TradeStation regards its brokerage business primarily of Equities as its core revenue source, and plans to increase option trading, which has high profitability and strong potential for growth. Since October 2014 with the rise in market Volatility, TradeStation’s customer activity has
rapidly improved."
In an admission of tough retail FX times, Monex stated: "In the midst of lower currency volatility and excessive competition and concerns about future business profitability, we transferred MT4 retail accounts offered under the name of IBFX to FXCM Holdings, LLC and consolidated services onto TradeStation FX for greater competitiveness."
Global Vision
As part of the company's "Global Vision" initiative, Monex wants to "geographically expand business areas through Mergers and Acquisitions (M&A) in Hong Kong and the U.S." The initiative's broader goal is to deliver differentiated products and services among all Group companies to be offered to retail investors globally. Monex also hopes to diversify revenue sources by expanding its B2B business and offering white-label solutions to third party companies.
Assuming flat business conditions continue and a host of firms struggle with balancing costs with revenues, industry consolidation is a topic likely to be revisited many times in 2015.
Monex revised its preliminary total operating revenue figure of ¥22,800 million up to ¥23,038 million (~$212 million). The company's costs and expenses were unchanged and the reported quarterly net loss of ¥304 million also remains unchanged.
The sharp fall in the Group’s overall performance is also reflected in the results of Monex Inc. – the Japanese-based subsidiary offering retail FX trading services. The comparatively better performance of Monex Inc. compared to Monex Group means that Monex Inc. now accounts for approximately 65% of the company’s total revenue.
On the flip side, Monex reports higher levels of client deposits, segregated capital and monies held in trust accounts. Client deposits rose from ¥53,193 million to ¥62,590 million and segregated capital rose from ¥192,897 million to ¥221,792 million.
TradeStation
"With a steady increase in customer assets and the number of accounts, TradeStation
remains competitive," said Monex Inc in an investor presentation. Adding, "TradeStation regards its brokerage business primarily of Equities as its core revenue source, and plans to increase option trading, which has high profitability and strong potential for growth. Since October 2014 with the rise in market Volatility, TradeStation’s customer activity has
rapidly improved."
In an admission of tough retail FX times, Monex stated: "In the midst of lower currency volatility and excessive competition and concerns about future business profitability, we transferred MT4 retail accounts offered under the name of IBFX to FXCM Holdings, LLC and consolidated services onto TradeStation FX for greater competitiveness."
Global Vision
As part of the company's "Global Vision" initiative, Monex wants to "geographically expand business areas through Mergers and Acquisitions (M&A) in Hong Kong and the U.S." The initiative's broader goal is to deliver differentiated products and services among all Group companies to be offered to retail investors globally. Monex also hopes to diversify revenue sources by expanding its B2B business and offering white-label solutions to third party companies.
Assuming flat business conditions continue and a host of firms struggle with balancing costs with revenues, industry consolidation is a topic likely to be revisited many times in 2015.
Cheetah Fund Investors Lose $9 Million in Alleged Fraudulent Scheme
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
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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
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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.
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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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