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Japanese brokerage house Monex Group has reduced the headcount of its U.S. centered TradeStation unit. Responding to declining trading volumes in the U.S. market, Monex has cut about 100 employees in its U.S. offices. The firm reduced the total headcount by 40 in April 2016 and added another 60 people yesterday, on July 27th, 2016.
After a relatively challenging quarter, Monex Group reported a decline in net profits to ¥261 million ($2.5 million), which is lower by 78 per cent YoY. The result was marked on a total of ¥10.6 billion ($101 million), a number which has declined 17.9 per cent ... (read more)