Two days after the news that Joe Schenk will replace Peter Quick as Chairman of GAIN Capital Inc (NYSE:GCAP), the FX brokerage group has reported its operating metrics for the month of September 2017.
After hitting a record $279.8 billion in August (up 32% over July), the institutional FX volumes were steady in September – $279.0 billion.
Forex.com retail FX trading volumes plunged 15% MoM to $202.6 billion.
Number of Futures Contracts also dropped to 486,395 last month.
Glenn Stevens, GAIN Capital
Glenn Stevens, Chief Executive Officer, remarked:
Stable market conditions and improved customer engagement resulted in consistent operating metrics during the third quarter, including average daily retail trading volume of approximately $9.6 billion for September.
As the result of low volatility in the third quarter, retail revenue capture was approximately 10% lower than the trailing twelve month level. It is worth noting that, notwithstanding quarterly fluctuations, trailing twelve month retail revenue capture has remained stable throughout the year. As we move into the fourth quarter of 2017, we remain focused on executing on our organic growth initiatives that aim to increase our market share and trading volumes, attract new customers and increase revenue per active account with existing customers.
