GMO Click recently released its trading documents for October. This revealed that while the volume of trades had been lately following an upward trajectory, they were still less than what obtained during the same period of last year.
GMO Click is the retail brokerage arm of GMO Internet, a Japanese IT colossus that is listed on the Tokyo Stock Exchange and headquartered in Tokyo, Japan. This Wednesday, GMO Click release data that set the market fluttering, but did not contain much of a surprise.
The data related to its over-the-counter (OTC) foreign exchange trading for October this year. While the data showed continued and consecutive growth, it also revealed the decline of its trading volumes when compared to what prevailed last year.
GMO Click is not alone in publishing reports of mixed trading volumes. Many other brokers and trading providers have also recently released data that showed encouraging growth in trading volume. This growth was however lesser than what was obtainable in 2018.
The likes of Integral, the Moscow Exchange, the Tokyo Financial Exchange and more have released similar trading data.
Mixed Up Fortunes
These mixed trading reports come after a wide-ranging slump recorded in September this year that GMC Click suffered from, along with lots of other industry players. This slump forced traders to record drastic drops in their trading volumes and came after a very positive performance in August that saw voluminous trades aplenty.
Due to this impressive August performance, GMC Click was able to record an uptick in trades compared to what was possible in September. More specifically, the Japanese firm was able to report OTC forex trading volume of $646.5 billion in U.S dollars.
This was in stark contrast to the trading volume measured in September, which stood at $572.7 billion. When the two values are compared, a rise of 12.9% in trading volumes is immediately evident, which is quite significant.
While the 12.9% percent rise in trading volumes might be encouraging news, it is still much less than what was obtainable last year. A year-on-year comparison shows that in October 2018, GMO Click reported an FX trading volume of $670.0 billion. When this is compared to the same period of this year, it shows a decrease of 3.5%.
GMO Click Holds Steady
Additionally, GMO Click reported an on-exchange forex volume for October 2019 of $12.3 billion. This trading volume is the same as what was recorded in the previous month. This means there was no significant monthly change on its on-exchange forex dealings.
The same as in September, this stated trading volume is the lowest that the Japanese broker has recorded this year. It is, however, possible that this might be surpassed later on as the year draws to a close.
When measured against the trading volume of last year in the same period, it can be seen that last month’s volume declined by 43.9%. This is because the reported trading volume for October 2018 stood at $4.1 billion.