Swissquote releases financial report for Q1 2011 – ACM volumes and accounts are up over 30%

Swissquote Bank, the Swiss bank which acquired ACM in December 2010, has published its financial report for the first quarter

Swissquote Bank, the Swiss bank which acquired ACM in December 2010, has published its financial report for the first quarter of 2011. For the first time ACM’s results are now made public, although not too many details are out there. Swissquote decided to break down its reporting into several segments such as Securities and eForex and now this data is available more clearly and there’s no need to work hard to extract it like in the 2010 end of year report.

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* – For the assets : the main part is the client’s cash part deposit to banks, derivatives linked to the activities, some information technology services and property plants. For the liabilities : the main part is due to customers, the rest is some deposit from banks and other liabilities.

It seems that under Swissquote ACM’s operations are back to profitability as in the last report we saw a net loss of CHF 12.6 million over revenues of CHF 37 million during 2010 (this report of course doesn’t break down other costs such as technology because Swissquote consolidates it across all units). ACM also enjoys a very high average deposit – 15,500 CHF (down from about 18,000 in the previous report) but its clients trade less probably using lower leverage.

Grab your latest copy of the Forex Magnates Retail Forex Industry Report for Q1 2011.

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