Kabu, an online securities broker, has published its business metrics for the final month of 2019. Following a weak trading performance for the firm in November, Kabu has managed to report solid revenues and a healthier trading performance during December.
Although December can typically be a slower month in terms of trading, and therefore, produce lower revenues, due to the holiday season, according to the metrics provided by Kabu, the broker had a healthy month.
In December, the Japanese brokerage added 3,351 securities accounts, bringing the total number of accounts at the end of 2019 to 1,139,119. The number of newly opened accounts was 893.
OTC FX value increases on Kabu
Taking a look at over-the-counter (OTC) foreign exchange (forex) trading, the value for the month of December was ¥1.74 trillion ($16.04 billion). This represents an increase of 22.4 per cent from the ¥1.42 trillion value recorded in the previous month.
The OTC FX trading value posted in December of last year is the first time the broker has reported an uptick in this metric since August of 2019, with September, October and November all producing consecutive declines.
The futures monthly trading value also rose in December, when measured against the previous month. Specifically, last month’s futures monthly trading value increased by 6.6 per cent month-on-month to reach ¥2.62 trillion.
Equities also followed along with the same trend, with the monthly trading value of equities rising on a monthly comparison. In particular, the monthly value climbed from ¥1.79 trillion in November of 2019 by 6 per cent to hit ¥1.90 in December of last year.
Taking a look at Kabu’s B2B2C results, the number of financial product brokerage accounts grew by 481 to reach 84,103 accounts by the end of December. During the month, the ASP OTC FX monthly trading value for the month was ¥280.6 billion. When weighing this against the previous month, it has risen by 31.1 per cent.