Kabu Reports Weak Metrics in June, OTC FX Trading Value Falls

Kabu, , has published its preliminary monthly business data for the month of June. During the month, the firm has again recorded weak results, a feature which has weighed on the broker for most of this year.
Although the number of accounts did increase during the month of June, the growth of accounts was slower on a month-on-month comparison. In June, the number of newly opened accounts was 2,761. This is 105 fewer accounts than what was opened .
FX OTC Trading Value Falls in June for Kabu
Despite the fact that there was one extra trading day in June than there was in May, overall trading appeared to be lacklustre for the securities firm. The over-the-counter (OTC) month foreign exchange (forex) trading value came in at ¥17.3 trillion ($159.8 billion).
Although this might seem like a solid figure, it is actually down by 13.1 per cent or ¥2.6 trillion from the ¥19.9 trillion trading value reported during the month of May, the second strongest monthly figure achieved so far this year, behind January.
The futures monthly trading value also fell on a month-on-month comparison. Specifically, the total value was ¥24.4 trillion during June. This is lower by ¥4.2 trillion from the ¥28.6 trillion recorded in May, which was also the highest monthly figure achieved so far this year.
The monthly share turnover for Kabu was also down in June. During the month, it fell by ¥1.5 trillion from ¥16.0 trillion in May down to ¥14.5 trillion last month.
Taking a look at Kabu’s B2B2C results, the number of financial product brokerage accounts grew by 303 to reach 81,401 accounts by the end of June. Nonetheless, the ASP OTC FX monthly trading value for June was ¥2.9 trillion, which is lower by ¥768 billion month-on-month.