DGAP-News: Dragon Holdings AG: Interim Managemet Statement
(firmenpresse) - DGAP-News: Dragon Holdings AG / Key word(s): Interim Report
Dragon Holdings AG: Interim Managemet Statement
23.05.2013 / 14:20
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Dragon Holdings AG (WKN: A1CTDS): Interim Management Statement
Munich, 23rd May 2013 - Dragon Holdings AG, a world leading FX Trading
technology developer and provider of FX branded liquidity solutions and
services, today issues its Interim Management Statement for the period 1st
January 2013 to 31st March 2013.
As previously indicated, trading conditions for the quarter ending 31st
December 2012 remained challenging, with a pronounced slowdown in Global
Trading volumes in December. The group's FX Trading turnover for the last
quarter was US$ 6.50 billion. Activity levels in the first quarter, ending
31st March 2013, improved across different product categories, with the
first quarter FX Trading volume reaching US$ 41.47 billion. This represents
a 638% increase over the previous quarter.
Commenting on the first quarter, Michael Hughes, Executive Director of
Dragon Holdings AG, said: 'Whilst December was a good month for us on FX
volumes, we've seen a marked improvement in trading volumes since the
beginning of January across our entire business, although it is premature
to tell if this is the start of a more sustained upturn. With a strong
balance sheet, and despite the challenging market environment, we continue
to innovate and develop our business. Next week we will launch the
distribution of an Electronic Social FX Trading Platform, 'Clone Trader for
FX', in the Middle East. At the same time, we will be launching the
distribution of an Electronic Social GOLD Algorithms Trading Platform,
'Clone Trader for GOLD', in South East Asia. The Clone Trader platforms
allow customers to clone fully automated trades in the Social Gold and FX
Space. This will build on the success of our market leading Euro platform.
We have received positive feedback from customers on the many changes we've
made at our subsidiary Tradeology Limited and our new service, Tradeology
Branded Feeds, is progressing well.
We remain well positioned for the opportunities that regulatory changes in
the market landscape will bring. The push towards more electronic trading
and risk mitigation of OTC derivatives plays to our strengths, as we have
invested heavily in developing the services and technology that our
customers will need to meet the new regulatory requirements.
In the first quarter 2013, the average spot FX volumes on the Tradeology
platform were $41.47 billion, up 638% quarter-on-quarter. This rise is
attributed to an increase in Clone Trader trading volumes and we expect
these trading volumes to further increase in the second quarter 2013.'
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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
Trader 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(at)dragonholdings.net
Dragon Holdings AG
Promenadeplatz 10
D-80333 München
Germany
Tel: +49 (0)89 21665036
Fax: +49 (0)89 21665041
End of Corporate News
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Datum: 23.05.2013 - 14:20 Uhr
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