Monex Global FX Trading Volumes Drop for a Second Month, down 8.5% in March

The Monex Group has released today its monthly business metrics disclosure for March 2014, showing another month of weak results from the Japan-based global brokerage and its subsidiaries.

The group's global FX trading volume in March was just $40.5 billion, a drop of about 8.5% despite having an extra business day. This continues the downward trend from the previous month in trading volumes for Monex, after peaking at $53.4 billion in January 2014.

The total number of active OTC margin FX accounts at the end of the month of March 2014 was 62,484, just slightly down by 0.3% from February. The average FX trade value per business day decreased by a considerable 17.2% Month-Over-Month to just ¥115,209 million, which might explain the overall drop in the volumes.

Monex also experienced a 5.8% drop in its global Daily Average Revenue Trades (DARTs), meaning the number of trades and transactions per day which generate revenue, reaching 340,766 per day in March 2014. The DARTs figure is even worse for the group's FX business dropping by about 12% MoM to 159,201.

The bright spot for Monex in March 2014 are the results of its American subsidiary, TradeStation which saw an increase of over a thousand new active accounts by the end of the month reaching 83,167, 1.3% more than the previous month of the year.