Form 8-K GAIN Capital Holdings, For: Apr 06
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
April 6, 2018
Date of Report (Date of earliest event reported)
GAIN CAPITAL HOLDINGS, INC.
(Exact name of registrant as specified in its charter)
Delaware | 001-35008 | 20-4568600 | ||
(State of Incorporation) | (Commission File No.) | (IRS Employer Identification No.) | ||
Bedminster One
135 Route 202/206
Bedminster, New Jersey 07921
(Address of Principal Executive Offices)
(908) 731-0700
(Registrant’s Telephone Number, Including Area Code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
p | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
p | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
p | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
p | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 7.01. Regulation FD Disclosure.
On April 6, 2018, GAIN Capital Holdings, Inc., a Delaware corporation (the “Company”), issued a press release to report certain operating metrics for the Company’s business for the month ended March 31, 2018. The full text of the press release is attached to this current report on Form 8-K as Exhibit 99.1.*
Item 9.01. Financial Statements and Exhibits.
Exhibit No. | Description | |
99.1* | Press Release of GAIN Capital Holdings, Inc., dated April 6, 2018, reporting certain operating metrics. | |
* | The information furnished in Item 7.01 of this Current Report on Form 8-K and on Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such a filing. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: April 6, 2018
GAIN CAPITAL HOLDINGS, INC. | ||
By: | /s/ Nigel Rose | |
Nigel Rose | ||
Chief Financial Officer | ||
Exhibit Index
Exhibit No. | Description | |
99.1 | ||
GAIN Capital Announces Monthly Metrics for March 2018
BEDMINSTER, N.J., April 6, 2018/PRNewswire/ -- GAIN Capital Holdings, Inc. (NYSE: GCAP) (“GAIN” or “the Company”) today reported certain operating metrics for the month of March 2018.
Mar-18 | Feb-18 | Mar-17 | Sequential Change | Year-over-year change | |||||||||
Retail Segment | |||||||||||||
OTC Trading Volume(1) | $ | 262.8 | $ | 283.5 | $ | 239.2 | (7.3 | )% | 9.9 | % | |||
OTC Average Daily Volume | $ | 11.9 | $ | 14.2 | $ | 10.4 | (16.2 | )% | 14.4 | % | |||
12 Month Trailing Active OTC Accounts(2) | 131,764 | 133,545 | 136,829 | (1.3 | )% | (3.7 | )% | ||||||
3 Month Trailing Active OTC Accounts(2) | 78,681 | 80,681 | 83,145 | (2.5 | )% | (5.4 | )% | ||||||
Institutional Segment | |||||||||||||
ECN Volume(1) | $ | 317.8 | $ | 322.7 | $ | 271.7 | (1.5 | )% | 17.0 | % | |||
ECN Average Daily Volume | $ | 14.4 | $ | 16.1 | $ | 11.8 | (10.6 | )% | 22.0 | % | |||
Swap Dealer Volume(1) | $ | 56.8 | $ | 53.8 | $ | 67.4 | 5.6 | % | (15.7 | )% | |||
Swap Dealer Average Daily Volume | $ | 2.6 | $ | 2.7 | $ | 2.9 | (3.7 | )% | (10.3 | )% | |||
Futures Segment | |||||||||||||
Number of Futures Contracts | 771,749 | 714,322 | 827,296 | 8.0 | % | (6.7 | )% | ||||||
Futures Average Daily Contracts | 36,750 | 37,596 | 35,969 | (2.3 | )% | 2.2 | % | ||||||
12 Month Trailing Active Futures Accounts(2) | 7,959 | 7,972 | 8,201 | (0.2 | )% | (3.0 | )% | ||||||
_________________________________________
All volume figures reported in billions.
1 US dollar equivalent of notional amounts traded.
2 Accounts that executed a transaction during the relevant period. For the quarter, indirect volume represented 23% of total retail OTC trading volume.
Management Commentary
"During the first three months of the year, GAIN’s continued success in driving organic growth, coupled with our strong ability to capitalize on the return of market volatility, resulted in a revenue per million figure in-line with our target run rate of approximately $105,” said Glenn Stevens, Chief Executive Officer. “Client engagement continued to improve in March, highlighted by retail average daily trading volume of $11.9 billion and ECN average daily volume of $14.4 billion, up 14% and 22% year-over-year, respectively, reiterating our belief that volatility in the markets is creating a more attractive trading environment for GAIN’s customer base."
Historical metrics and financial information can be found on the Company's investor relations website http://ir.gaincapital.com.
This operating data is preliminary and subject to revision and should not be taken as an indication of GAIN's financial performance. GAIN undertakes no obligation to publicly update or review previously reported operating data.
About GAIN
GAIN Capital Holdings, Inc. provides innovative trading technology and execution services to retail and institutional investors worldwide, with multiple access points to OTC markets and global exchanges across a wide range of asset classes, including foreign exchange, commodities, and global equities. GAIN Capital is headquartered in Bedminster, New Jersey, with a global presence across North America, Europe and the Asia Pacific regions. For further company information, visit www.gaincapital.com.
Investor Relations Contact
Lauren Tarola, Edelman for GAIN Capital
+1 908.731.0737
Media Contact
Nicole Briguet, Edelman for GAIN Capital
+1 212-704-8164