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.
-GAINâs 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, GAINâs CEO and founder. "Trade volume is an excellent measure of the interest in GAINâs service," continued Mr. Galant, "and we have surpassed all of our projections this year, resulting in steady increases in the firmâs profitability."
Mr. Galant attributes the firmâs rapid growth to the substantial benefits that low cost, electronic trading offers GAINâs target market, which includes money managers, Commodity Trading Advisors (CTAâs), 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 GAINâs extensive partner network as another contributing factor to the firmâs 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 GAINâs 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 firmâs 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."