Dragon Holdings AG
Dragon Holdings AG: 2nd Quarter 2013 Business Update
Dragon Holdings AG / Key word(s): Quarter Results Dragon Holdings AG (WKN: A1CTDS): 2nd Quarter 2013 Business Update Munich, 12th August 2013 – Dragon Holdings AG, a world leading FX Trading technology developer and provider of FX branded liquidity solutions and services, today reported its business update for the period 1st April 2013 to 30th June 2013. The beginning of the 2nd Quarter 2013 was marked by economic changes and shifting monetary policies which caused a rise in the FX volatility, favoring in June 2013 an overall Average Daily Volume (ADV) record. The Group’s average spot FX trading volumes for the second quarter 2013 reached US$ 80.47 billion, representing a 194% increase over the previous quarter’s US$ 41.47 billion. Michael Hughes, Executive Director of Dragon Holdings AG, stated: ‘As anticipated, market improvement in trading volumes continued in the second quarter of 2013. The average spot FX volume on the platform of our subsidiary Tradeology Ltd, for the period 1st April 2013 to 30th June 2013, was US$ 80.47 billion, up to 194% quarter-on-quarter. This rise is attributed to an increase in Clone Algo trading volumes. Since it has been launched in April 2013, Clone Algo, which is a B2B product, exclusive for brokers, opened over 3200 accounts through the distribution of two brokers. This success allows us to once again strengthen our position on the international market and expand our products. We are expecting to increase the distribution of our products to ten FX brokers by the end of 2013 and to eighty by the end of 2015. I would like to highlight the fact that 30 algorithms are available on Clone Algo, including the very successful Cliff and Hungry Ghost algorithms. The currency pairs currently being traded are EUR / USD, USD / JPY, EUR / JPY, GBP / JPY. We will continue to innovate reliable products that will sustain high performance business. Our Group will soon launch a new product for professional traders, Clone Algo Pro Trading Terminals. Furthermore, the Group will benefit from the experience in banking and finance of Mr. Tony Thampy, who will assist us in setting up a new distribution office covering the Middle East. World growth is likely to remain relatively uneven as output gaps in many developed economies persist, while the fiscal policies in the US and Europe remain key factors. In Asia, due to the fiscal and monetary measures, Japan’ economy is expected to pick up gradually, while China’s long term growth curve could meet more sustainable levels. As global economic conditions remain volatile, we expect FX trading volumes to further increase in the third quarter.’ About Dragon Holdings AG Dragon Holdings AG has its headquarters in Munich, Germany and operates as a holding company for the Sales & Distribution of various IT Hardware products, as well as having diverse business activities related to Algorithmic Trading Technology. Through its subsidiaries, Dragon Holdings AG markets trading platforms worldwide, offering its clients complete services that include software and hardware. Dragon Holdings AG is a world leading FX Trading technology developer and provider of FX branded liquidity solutions and services. The Group develops Algorithms, Risk Management Systems and other software for the wholesale markets in gold, commodities and FX through electronic networks, operating in several electronic market places. Through the distribution of Clone Algo platforms, the group helps its customers clone trades in the Social Gold and FX Space. For more information, please visit our company website: www.dragonholdings.net If you have any questions, please contact our Investor Relations Team for assistance at: investor.relations@dragonholdings.net Dragon Holdings AG End of Corporate News 12.08.2013 Dissemination of a Corporate News, transmitted by DGAP – a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
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