Earlier today, Swiss inter-dealer brokerage group, Compagnie Financière Tradition (CFT), published financial metrics for Q3 2014 in a brief summary statement.
In the statement, the company reports a consolidated revenue figure of 197.9 million Swiss francs ($207 million) for Q3, a 2.8% year-on-year decline. The inter-dealer broking business unit was down 1.9% and with all other business (including retail volume from Gaitaime in Japan) collectively falling 8.1%.
So Far in 2014
Year-to-date, CFT’s consolidated revenue stands at 623.3 million Swiss francs ($653 million) compared to 679.5 million Swiss francs – an 8.3% decline at current exchange rates. Since January, CFT’s inter-dealer broking business has shed 6.1% while all other business including retail FX flow from Japan has declined 29.6%.
The sharp decline in retail forex revenues at Gaitame is somewhat of a surprise considering a resurgence in retail flows across most Japanese brokers – although this has only been the case since September when forex volumes went through a renaissance.
In related news, earlier this month aimed at proving investors with access to liquidity in the South African rand, Zambian kwacha, Kenyan shilling and the Nigerian naira.
Be First to Comment