Monex Revenues for July Rise Mildly as Stocks Volatility Persists
Revenues of the Japanese broker marked a second consecutive monthly increase, starting the second quarter of fiscal 2016 on a high note
Japanese company Monex Group, which is behind brokerages Monex and TradeStation, has just reported its July revenue figures. The company has marked a second consecutive monthly increase during the first month of the summer in what is an untypical development for brokers.
Revenues during the month of July increased 2.5 percent when compared to June and 30 percent when compared to a year ago. The total figure stood at ¥5,109 million ($42.9 million).
The summer months are typically characterized by slower activity and a reduced number of opportunities for clients. That said, as this summer is proving, there are exceptions to the rule as volatility has sharply risen in the aftermath of some policy moves by China.
Attempts by the Chinese government to stem a rapid stock market decline have been abandoned and its efforts are focused on the currency as the renminbi has been appreciating against a basket of currencies since 2009.
The move by the Chinese government has triggered a global markets rout which is likely to lead to an even better month of August, not only for the Monex Group but for other companies in the industry. European shares have picked up on the decline in China and the value of global stocks is now hovering at or below levels seen in the beginning of 2015.