GAIN Capital Holdings, Inc. (NYSE: GCAP) has just reported its aggregated trading volumes for Q2 2019. The group’s most recent retail volumes took another step back during the second quarter, continuing with a consecutive string of weak metrics YoY since ending the .
In particular, GAIN Capital’s retail clients transacted a total of $464.3 billion in Q2 2019, down 31.7 percent year-over-year from $679.6 billion in Q2 2018. The group’s average daily volumes (ADVs) came in at $7.1 billion in the April-June period, also lower by 33 percent over a yearly timetable from $10.6 billion per day in Q2 2018.
Meanwhile, active accounts in the retail OTC segment totaled 118,320 at of the end of June 2019, which is lower nine percent on a yearly basis from 130,018 accounts the previous year.
Gain reveals weak financials
Futures trading fell last quarter to 1,978,251 contracts, down -4.6 percent year-over-year when weighed against 2,073,684 contracts in the year prior.
Earlier today, the company reported its financial results for the second quarter which saw a year-on-year drop. GAIN’s net revenues under the US GAAP for Q2 2019 came in at $75.5 million, constituting a fall of 10 percent compared to $84.2 reported back in the April-June quarter of 2018. Over a quarterly basis, however, the company revenue nearly doubled from .
Business highlights, according to the company’s report, show the listed brokerage will remain focused on returning capital to shareholders through share repurchases and dividends, which amounted to $2.2 million.
In terms of Gain Capital’s bottom line, the quarterly net income from continuing operations was only $0.9 million, or $0.02 per share, compared to $6.8 million in the year ago and a net loss of $28.4 million in the Q1 2019.