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| About GAIN: News & Events | Media Contacts |
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GAIN Capital, Inc. Announces Record Growth and Profitability
WARREN, NJ, June 17, 2002 - GAIN Capital, the premier source for online currency trading (www.gaincapital.com), today announced record growth at its two-year anniversary as the firm attracts new customers to the service.
Key Growth Statistics:
- Trade volume tripled from May 2001, exceeding $15 billion in May 2002.
- GAIN experienced a 475% increase in customers between May 2001 and May 2002.
- GAIN's client base now includes traders from over 70 countries and registered demo users from over 150 countries.
"Based on year to date performance, GAIN is on track to reach $200 billion in total trade volume in 2002," commented Mark Galant, GAIN's CEO and founder. "Trade volume is an excellent measure of the interest in GAIN's service," continued Mr. Galant, "and we have surpassed all of our projections this year, resulting in steady increases in the firm's profitability."
Mr. Galant attributes the firm's rapid growth to the substantial benefits that low cost, electronic trading offers GAIN's target market, which includes money managers, Commodity Trading Advisors (CTA's), as well as individual traders. "GAIN has spent millions of dollars developing our proprietary trading platform, and it is our belief that owning and controlling our technology is and will continue to be a long-term competitive advantage for the firm."
Glenn Stevens, Managing Director, mentioned GAIN's extensive partner network as another contributing factor to the firm's success -- and vital to its continued growth. "In addition to our affiliation with Introducing Brokers all over the world, we have strong relationships with a number of established firms that have co-opted GAIN's trading technology under white label or co-brand agreements," said Mr. Stevens.
The firm is now looking ahead to its third year of business and the unique challenges of the highly competitive online forex industry. "Over the past year, we have seen an exponential growth in assets in our own managed account (MAC) program, launched an internally developed wireless product using the .NET platform, completed the firm's first acquisition, and moved to larger office space," said Mr. Galant. "Going forward, our focus is on expanding our range of products and services to meet the needs of our clients and maintain our market leading position in this dynamically evolving space."
About GAIN Capital
GAIN Capital offers direct access to the global Foreign Exchange (FX) markets via a real-time internet-based trading platform. GAIN revolutionized the FX market by being the first online FX trading firm to allow clients to deal directly from live, streaming quotes. GAIN clients also enjoy 24-hour trading, interbank dealing spreads, no commission or transaction fees, and 50:1 leverage.
A recognized market leader in online FX, GAIN was named "Best Independent Online Foreign Exchange Trading System" by Global Finance magazine in June 2001. The firm now services clients from over 70 countries around the globe, including fund managers, Commodity Trading Advisors (CTAs), and individual traders.
GAIN Capital is a registered Futures Commission Merchant (FCM), regulated by the Commodity Futures Trading Commission (CFTC), and is a member of the National Futures Association.
For more information, please visit http://www.gaincapital.com
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Overview