Japanese forex broker Monex Group, Inc. (TYO:8698) has just published its key operating metrics for August 2016 and its Global daily average revenue trades (DARTs) were down 16% from July levels, coming in at 231,108.
DARTs for Monex’s TradeStation Group were down 6% MoM to 91,241.
The greatest trading decline at Monex during August was in its OTC FX business. Average daily trading during August was ¥85.4 billion – 37% less than in July and less than half the FX volumes Monex was seeing earlier this year.
Part of the decline is the summer slowdown of course, but with last summer’s volumes also being more than twice that amount, it can’t be the full explanation.
The key USDJPY currency pair did trade in a fairly tight 100-102 band during most of August, and the lack of volatility seems to have lulled Japanese traders to sleep during their summer break.
Monex’s full August operating results report can be seen here.