FXall Posts Positive Q2 Results
Leading multi-bank FX portal, FXall, has submitted its quarterly earnings for the second quarter of 2012. Results look promising as overall FX volumes have been on the up since a difficult first quarter. In addition, the ECN venue was a recent target of a major Merger Merger A merger is defined as the absorption of the interest of another. It can include an estate, or contract. There are no specific rules or formats for a union in general. It is a method of combining two or more organizations, business concerns, or other related interests. The terms of a merger are usually by agreement of the parties involved. In the financial sphere, merger refers to an agreement between two or more companies or corporations, public and private, to merge into one entity. Mergers d A merger is defined as the absorption of the interest of another. It can include an estate, or contract. There are no specific rules or formats for a union in general. It is a method of combining two or more organizations, business concerns, or other related interests. The terms of a merger are usually by agreement of the parties involved. In the financial sphere, merger refers to an agreement between two or more companies or corporations, public and private, to merge into one entity. Mergers d Read this Term in the FX markets after Thomson Reuters put a bid forward.
Three Months Ended June 30, 2012 Compared to Three Months Ended June 30, 2011
Total Revenues
FXall’s total revenues increased $2.0 million, or 7%, to $31.4 million for the three months ended June 30, 2012, compared to $29.4 million for the three months ended June 30, 2011. The increase in total revenues was primarily attributable to an increase in transaction fees of $1.2 million and an increase in user, settlement and license fees of $0.8 million.
Transaction fees—relationship trading.
Transaction fees—relationship trading increased $0.3 million, or 2%, to $16.1 million for the three months ended June 30, 2012, compared to $15.8 million for the three months ended June 30, 2011. The increase in revenues was driven by a 5% increase in trading volume due primarily to an increase in the number of relationship trading clients. This increase was partially offset by a decrease in the average volume per client and decrease in the average transaction fee per million of 3%, primarily due to a change in product mix and our tiered volume pricing model.
Transaction fees—active trading
Transaction fees—active trading increased $0.9 million, or 13%, to $7.9 million for the three months ended June 30, 2012, compared to $7.0 million for the three months ended June 30, 2011. The increase in revenues was driven by an 18% increase in trading volume due primarily due to an increase in active trading clients. This increase was partially offset by a decrease in the average volume per client and a decrease in the average transaction fee per million of 4% primarily due to tiered volume pricing.
User, settlement, and license fees
User, settlement, and license fees increased $0.8 million, or 12%, to $7.4 million for the three months ended June 30, 2012, compared to $6.6 million for the three months ended June 30, 2011. The increase was primarily attributable to $0.4 million in increased license fees for our white-labeled enterprise solutions and $0.2 million in increased fees related to post-trade messaging for transaction settlement.
FXall competes with Currenex and Hotspot in the core ECN market. Hotspot, part of the Knight Group had a dim end to last week as a major computer glitch caused a loss of $440 million. The loss could force Knight into Bankruptcy Bankruptcy Bankruptcy or insolvency constitutes a legal term and refers to being unable to repay debts. A business and a person can declare bankruptcy. When a person or company claims bankruptcy, it is described as a voluntary bankruptcy, and when your debtors force you into bankruptcy, it is referred to as involuntary. A voluntary bankruptcy occurs when the debtor or borrower, the party that owes the money files with the courts. Involuntary bankruptcy happens when your credits file a petition with the co Bankruptcy or insolvency constitutes a legal term and refers to being unable to repay debts. A business and a person can declare bankruptcy. When a person or company claims bankruptcy, it is described as a voluntary bankruptcy, and when your debtors force you into bankruptcy, it is referred to as involuntary. A voluntary bankruptcy occurs when the debtor or borrower, the party that owes the money files with the courts. Involuntary bankruptcy happens when your credits file a petition with the co Read this Term.
Leading multi-bank FX portal, FXall, has submitted its quarterly earnings for the second quarter of 2012. Results look promising as overall FX volumes have been on the up since a difficult first quarter. In addition, the ECN venue was a recent target of a major Merger Merger A merger is defined as the absorption of the interest of another. It can include an estate, or contract. There are no specific rules or formats for a union in general. It is a method of combining two or more organizations, business concerns, or other related interests. The terms of a merger are usually by agreement of the parties involved. In the financial sphere, merger refers to an agreement between two or more companies or corporations, public and private, to merge into one entity. Mergers d A merger is defined as the absorption of the interest of another. It can include an estate, or contract. There are no specific rules or formats for a union in general. It is a method of combining two or more organizations, business concerns, or other related interests. The terms of a merger are usually by agreement of the parties involved. In the financial sphere, merger refers to an agreement between two or more companies or corporations, public and private, to merge into one entity. Mergers d Read this Term in the FX markets after Thomson Reuters put a bid forward.
Three Months Ended June 30, 2012 Compared to Three Months Ended June 30, 2011
Total Revenues
FXall’s total revenues increased $2.0 million, or 7%, to $31.4 million for the three months ended June 30, 2012, compared to $29.4 million for the three months ended June 30, 2011. The increase in total revenues was primarily attributable to an increase in transaction fees of $1.2 million and an increase in user, settlement and license fees of $0.8 million.
Transaction fees—relationship trading.
Transaction fees—relationship trading increased $0.3 million, or 2%, to $16.1 million for the three months ended June 30, 2012, compared to $15.8 million for the three months ended June 30, 2011. The increase in revenues was driven by a 5% increase in trading volume due primarily to an increase in the number of relationship trading clients. This increase was partially offset by a decrease in the average volume per client and decrease in the average transaction fee per million of 3%, primarily due to a change in product mix and our tiered volume pricing model.
Transaction fees—active trading
Transaction fees—active trading increased $0.9 million, or 13%, to $7.9 million for the three months ended June 30, 2012, compared to $7.0 million for the three months ended June 30, 2011. The increase in revenues was driven by an 18% increase in trading volume due primarily due to an increase in active trading clients. This increase was partially offset by a decrease in the average volume per client and a decrease in the average transaction fee per million of 4% primarily due to tiered volume pricing.
User, settlement, and license fees
User, settlement, and license fees increased $0.8 million, or 12%, to $7.4 million for the three months ended June 30, 2012, compared to $6.6 million for the three months ended June 30, 2011. The increase was primarily attributable to $0.4 million in increased license fees for our white-labeled enterprise solutions and $0.2 million in increased fees related to post-trade messaging for transaction settlement.
FXall competes with Currenex and Hotspot in the core ECN market. Hotspot, part of the Knight Group had a dim end to last week as a major computer glitch caused a loss of $440 million. The loss could force Knight into Bankruptcy Bankruptcy Bankruptcy or insolvency constitutes a legal term and refers to being unable to repay debts. A business and a person can declare bankruptcy. When a person or company claims bankruptcy, it is described as a voluntary bankruptcy, and when your debtors force you into bankruptcy, it is referred to as involuntary. A voluntary bankruptcy occurs when the debtor or borrower, the party that owes the money files with the courts. Involuntary bankruptcy happens when your credits file a petition with the co Bankruptcy or insolvency constitutes a legal term and refers to being unable to repay debts. A business and a person can declare bankruptcy. When a person or company claims bankruptcy, it is described as a voluntary bankruptcy, and when your debtors force you into bankruptcy, it is referred to as involuntary. A voluntary bankruptcy occurs when the debtor or borrower, the party that owes the money files with the courts. Involuntary bankruptcy happens when your credits file a petition with the co Read this Term.