Kabu, a Mitsubishi UFJ subsidiary, has announced its monthly business figures for the month of July 2017 which show a drop in the number of active accounts as compared to the previous month. This has led to a drop in trading volumes as well.
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The number of newly opened accounts declined by 45 (-1.1%) from the month of June, while the number of active accounts declined by 3,270 (0.6%) as many traders chose to withdraw their balances during the month. This was probably due to the fact that it is a summer holiday period in Japan, and maybe traders chose to withdraw their balances to fund their travel and holidays.
The number of futures/options rose by 124 though (+0.2%) but this was not enough to prop up trading volumes which declined by 15%, coming in at 2,015.85 billion yen ($18.31 billion), down from 2387.5 billion yen ($21.7 billion) the previous month.
The average number of daily contracts also went down by 2731 (-2.29%) to 116,238 contracts against 118,969 contracts from the previous month. The number of shop front FX accounts however increased by 436 (+0.4%) to 90,493 in the month of July.
This decline in most figures is in line with the general trend that has been faced by Kabu over the last few months, with declines in trading volumes in the months of May and June.
Due to this, we believe that Kabu's results for July, when they come out, are likely to also show a decline in trading volumes and general revenue.
