Compagnie Financière Tradition's Japanese Retail Forex Revenue Down 28.6% in H1

Swiss inter-dealer broker Compagnies Financière Tradition (CFT), which also owns Japanese retail forex provider Gaitame.com, reported today its revenue results for the first half of 2017.

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The CFT Group reported first-half consolidated revenue of just CHF 411.4 million, compared with CHF 425.2 million in the same period in 2016, a decrease of 0.6 percent at constant exchange rates. In current currencies, CFT explains that the reported revenue remains affected by the weakness of the pound sterling following the vote on Brexit Brexit Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Read this Term, down 3.3 percent compared to the same period last year. [gptAdvertisement]

For the same period, CFT's consolidated adjusted revenue was just CHF 445.7 million compared with CHF 460.0 million in 2016, representing a decrease of 0.5 percent at constant exchange rates. In current currencies, the adjusted revenue decreased by 3.1 percent. The adjusted revenue from interdealer broking business (IDB) was up 0.8 percent in constant currencies while the Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term trading business for retail investors in Japan (Non-IDB) was down 28.6 percent.

In the second quarter, consolidated revenue was just CHF 198.0 million compared with CHF 205.8 million in the second quarter 2016, representing a decrease of 0.8 percent in constant currencies. The group's consolidated adjusted revenue was just CHF 215.3 million against CHF 223.6 million in 2016, down 1.6 percent in constant currencies with IDB down 0.1 percent and Non-IDB down 32.1 percent.