Japanese Online Trading giant GMO Click has just disclosed its May 2017 metrics, showing a rebound in its monthly FX trading volumes.
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Trading volumes for May 2017 came in at ¥42.8 trillion ($387.2 billion), an increase of 9.1 percent month-over-month from just ¥39.2 trillion ($348.2 billion) in April - a record low for 2017. This figure is stronger compared with the month prior, but GMO Click’s latest reading is still substantially below that of January (¥60.5 trillion) and March (¥46.4 trillion), just barely above February (¥42.6 trillion).
May 2017’s trading volumes look weaker when measured over a year-over-year basis, declining by about 7.5 percent from ¥46.2 trillion in May 2016.
Background
It was recently reported that the brokerage’s parent company, GMO Internet, Inc. (TSE: 9449), is among a number of Japanese firms who are in the process of applying for a Japanese bitcoin exchange license according to the Japan Cryptocurrency Business Association.
It was also recently revealed at a meeting of its board of directors that GMO Click Holdings will be rebranding to GMO Financial Holdings.
Additionally, GMO Click plans to change its fiscal year period to adopt January-December as the new business year, thereby signaling an end to the April-March period used since its inception in 2012.
The move is aimed at aligning the Japanese company’s financial accounting and fiscal policies with the vast majority of its global peers. The standardization would also ensure uniformity in collection and analysis of operational data from its foreign subsidiaries which includes GMO CLICK Securities, GMO-Z.com Forex HK Limited, FX PRIME and GMO-Z.com Trade UK Limited.
