Compagnie Financiere Tradition has just announced its latest quarterly results. The firm’s retail FX business has suffered somewhat due to comparatively low volatility during the third quarter of 2016 during the quarter, however it remains materially upbeat when we look at the first 9 months of the year.
The third quarter of the year has not been the best for Tradition’s inter-dealer broking business where revenues declined by 2.7 percent, as the company’s consolidated revenue for the period dropped by 2.4 percent year-on-year to CHF187.5 million ($188.6 million). Revenues from the firm’s Japanese retail FX business Gaitame.com increased during the quarter by 7.5 per cent.
Total revenue for the first 9 months of the year has remained solid with CHF 612.7 million ($616.8 million), which is lower by 1.8 percent year-on-year.
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During the same period the company’s consolidated adjusted revenue was CHF 662.5 million ($667 million), which is lower by 1 percent when compared to the first 9 months of 2015.
Looking at the different business segments of the company, the inter-dealer broking business was lower by 2.5 percent, while Gaitame.com perked up 30 percent during the first nine months of the year.
Japanese traders have been consistently outperforming the rest of the world, even as Japanese yen volatility has declined materially during the past quarter. Despite these seasonal headwinds, Tradition’s Gaitame.com business has managed to continue growing steadily. Over the coming months, Tradition’s retail business in Japan could continue actively expanding.