GMO Click Also Struggles with FX OTC Volumes in October

GMO Click, the retail brokerage unit of Japanese IT giant GMO Internet, has published its over-the-counter (OTC) foreign exchange (forex) trading for October this Wednesday.

So far, many trading providers and brokers have published mixed trading volumes for the month of October. Among them are Kabu, the Tokyo Financial Exchange, the Moscow Exchange and Integral, and others.

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These mixed results follow on from a widespread slump in September, which saw many trading providers post large drops in the trading volumes, after a solid performance in August, which GMO Click was also victim to.

As a result, in terms of GMO Click’s trading volumes, the Japanese broker actually managed to report an uptick when compared to September’s volume. Specifically, when taking a look at the company’s trading volumes in the United States dollar, the firm reported an OTC forex trading volume of $646.5 billion. 

When measuring this against September’s volume of $572.7 billion, it has risen by 12.9 per cent. Taking a broader look, last month’s value doesn’t hold up as well. That’s because, on a year-on-year comparison, October of 2018 reported an OTC FX trading volume of $670.0 billion. Therefore, last month’s volume has fallen by 3.5 per cent on a yearly measurement.

On-exchange FX trading remains steady for GMO Click

Moving on, GMO Click also reported its on-exchange forex volumes for the month of October. During this period, the broker achieved a trading volume of $2.3 billion.

This trading volume is actually identical to the previous month. Therefore, there is no monthly change for on-exchange forex trading. As was the case with the month of September, this trading volume is the lowest value recorded by the broker so far this year.

Again, when zooming out and measuring this volume against the same period of the previous year, last month’s volume has fallen by 43.9 per cent, as October of 2018 reported a trading volume of $4.1 billion.

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