Monex Boom Securities (HK) plans to launch futures trading service in Feb 2018

Maria Nikolova

Monex continues to look for business opportunities in the Asia Pacific region.

Monex Boom Securities (HK), an online trading subsidiary of Monex Group, Inc. (TYO:8698), is planning to launch a futures trading service. The plans form part of a wider strategy unveiled by Monex Group today, as it posted its financial results for the third quarter of the year to March 31, 2018.

Monex said the launch of the new futures trading service is scheduled for early February 2018.

The Group continues to seek business opportunities in the Asia Pacific region, as the AP segment reported segment profits in two consecutive quarters due to the reduction of expense in Monex Boom Securities. The lower expenditure has fuelled a 58% quarter-on-quarter increase in operating income at Monex Boom Securities.

One of the business highlights for the past quarter also concerned the AP segment – the launch of Monex’s online securities business operations in Australia. Monex Securities Australia Pty Ltd enables access to 12 countries and regions including Shanghai A shares and Shenzhen A share through the stock connect of Hong Kong Stock Exchange. The company makes use of the system of the HK-based brokerage subsidiary in order to lighten the infrastructure and offer cost-competitive services.

Monex also emphasized the performance of its joint venture in PRC. The JV, which provides technology and knowledge of online brokerage business, achieved a record quarterly profit in the third quarter, the broker said.

Regarding Japan, Monex noted the numerous releases of new products and services. The Japanese segment reported a profit pf JPY 2.4 billion in the third quarter, up from JPY 2 billion on the back of higher equity trading volume.

In the US, where Monex operates via TradeStation, low market volatility has not stopped the business from being profitable. Also, the US segment recognized a JPY 900 million tax benefit in the third quarter as a result of new US tax legislation.

TradeStation has launched a new mobile application for US Equities, which has thus far enjoyed more than 15,000 downloads. The company estimates that 20% of active accounts trade through this app. This fits well with TradeStation’s new strategy of targeting younger clientele.

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