Japanese Broker Gaitame Sees 11.3% YoY Uptick in H1 Revenues

The Switzerland-based parent company of Japanese foreign exchange (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) broker Gaitame, Compagnie Financière Tradition (CFT), has published its financial results for the first half of 2019 this Friday.

During the first six months of 2019, CFT reported an uptick in activity, with consolidated revenue coming in at CHF 474.3 million ($478.7 million). This is higher by 3.1 percent from the CHF 459.8 million in revenue reported in the first half of 2018.

At current exchange rates, revenue for the first half of 2019 increased by 3.2 percent year on year. In the second quarter of 2019, the Swiss-headquartered firm reported consolidated revenue of CHF 234.1 million. This is higher by 2.9 percent year-on-year.

As Finance Magnates reported, the Swiss firm reported consolidated revenue of CHF 240.4 million in the first quarter of this year. In constant currencies, this was higher than the consolidated revenue of CHF 229.6 million reported in the same period of 2018 by 3.3 percent.

In H1 of 2019, the Group’s consolidated adjusted revenue was CHF 520.5 million. This represents a growth of 3.4 percent at constant exchange rates from the CHF 502.7 million adjusted revenue reported in H1 of 2018.

Gaitame revenue increases YoY in Q2 and H1

Taking a look at the Group’s forex trading business for retail investors in Japan, Gaitame, adjusted revenue was higher by 11.3 percent. The statement does not give the exact figure for revenues.

In the first quarter of this year, the broker noted a year-on-year growth of 15.5 percent for the retail broker. This growth was less than 27.8 percent annual growth achieved in the final quarter of 2018.

Taking a look at the second quarter of 2019, Gaitame’s consolidated adjusted revenue increased by 6.9 percent year-on-year. The firm’s interdealer broking business noted a three percent increase.