Monex Reports Upsurge in November Metrics as DARTs Soar

Monex Group today reported its November 2016 business metrics finally revealing much improved figures for the month in comparison with October’s decline and generally fairly lukewarm financials during the last few recent months.

In terms of Daily Average Revenue Trades (DARTs), last month saw the Japanese broker’s figures fall to 236,895 amid a so-so month across the industry which delivered a mixed set of results.

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November Metrics

Today’s figures reveal that DARTs for the month are 307,856 representing a strong increase of 30 percent MoM compared with October’s 236,895. Today’s metrics also show an annual increase of 9.7 percent compared with November 2015’s figures of 280,599.

November saw an increase in accounts at Monex rising to 1,674,318 from 1,668,473 accounts in October 2016, or an increase of 0.35 percent MoM. Looking at Monex’s FX business, the number of over-the-counter (OTC) FX accounts totalled 232,764 showing a small increase over October’s figures of 231,540, or 0.53 percent MoM.

Staying on the broker’s FX OTC business, Monex recorded an average trade value per business day of ¥213,618 billion ($18.8 billion) compared with ¥95,543 billion ($9.27 billion) in October, or a strong increase of 123.59 percent MoM.

TradeStation also saw DARTs decrease to 105,400 in November from 94,307 in October, reflecting an increase of 11.77 percent MoM. In terms of active account numbers, November figures were 61,819 compared with 61,732 in October, or a marginal increase of 0.14 percent MoM.

Operating Revenues

Monex recently announced its October operating revenue revealing solid metrics for the month. The brokerage recorded figures of $30.6 million (¥3,401 million), representing a figure equal September’s figures of $30.6 million (¥3,402 million) and down -19.1 percent YoY compared with $37.89 million (¥4,203 million) last year.

Overall, Monex’s trading volumes have taken several turns in recent months, resulting in part to strategic moves by the brokerage in terms of the sale of its US and Australian FX business to OANDA and a reduction in the headcount of its US centered TradeStation unit.

Today’s figures, however, are much welcomed with strong results across the board while delivering the best volumes for the Japanese brokerage since February this year.