GAIN Capital Holdings, Inc. (NYSE: GCAP) today reported volume operating metrics for the month of June 2016. It looks like due to slashing of leverage and increase of margin requirements respectively, June did not provide the boon to volumes we saw at the big Wall Street institutional venues during the EU referendum. Last year “Grexit” also provided heavy volatility in Euro pairs and performed better for the company’s retail segment as per 2015’s results coming in 43.7% higher, when the company provided no margin requirement hikes. See more detailed metrics below:
Retail Segment Metrics
- OTC average daily volume of $10.5 billion, an increase of 3.7% from May 2016 and a decrease of 43.7% from June 2015.
- OTC trading volume of $231.7 billion, an increase of 3.7% from May 2016 and a decrease of 43.7% from June 2015.
- Active OTC accounts of 139,022, an increase of 0.1% from May 2016 and a decrease of 6.5% from June 2015.
Institutional Segment Metrics
- ECN average daily volume of $9.6 billion, an increase of 40.1% from May 2016 and 17.9% from June 2015.
- ECN volume of $212.3 billion, an increase of 40.1% from May 2016 and 17.9% from June 2015.
- Swap Dealer average daily volume of $2.4 billion, a decrease of 15.5% from May 2016 and 8.9% from June 2015.
- Swap Dealer volume of $53.4 billion, a decrease of 15.5% from May 2016 and 8.9% from June 2015.
Futures Segment Metrics
- Futures average daily contracts of 33,074, a decrease of 4.8% from May 2016 and an increase of 4.6% from June 2015.
- Futures contracts of 727,633, a decrease of 0.3% from May 2016 and an increase of 4.6% from June 2015.
- Active futures accounts of 8,822, a decrease of 0.6% from May 2016 and an increase of 0.3% from June 2015.
“The lead-up to and market reaction following mid-June’s Brexit referendum led to an increase in volatility which resulted in GAIN’s Q2 2016 retail revenue per million tracking roughly 10% above our Q1 2016 levels,” remarked Glenn Stevens, Chief Executive Officer. “In addition, retail volume generated from the indirect business represented 48% of total retail OTC trading volume in the quarter,” Mr. Stevens concluded.