Monex Group Reports Negative Balance Loss of over $1.3M from Swiss Franc Volatility

Adding to the list of brokers who have disclosed their loss amounts from last Thursday’s Swiss franc move, Monex Group Japan has announced that it has sustained losses from negative account balances. According to the broker, among its brands which include Monex in Japan, Tradestation and IBFX, negative balances amounted to 0.2% of consolidated net assets which were 80.2 billion yen at the end of September. Based on a 117 USDJPY conversion rate, Monex’s negative balances amounted to around $1.37 million.

Monex Group stated that the loss won’t materially affect their operations: “This client Negative Balance will have no material negative financial impact on the consolidated performance and the business operations of the Company.” While broker-to-broker results have varied, APAC exposure to CHF Forex trading pairs appears to have been well below that of traders in Europe and the US overall. In public stats from the Tokyo Financial Exchange, trading of the CHFJPY composed only 0.43% of overall 2014 volumes at the venue.