Nukkleus Inc’s Trading Volume Skyrockets by 657.6% in Q3 2023 Amid Pandemic

Introduction: Nukkleus Inc. (ticker: NUKK), a financial technology company providing software and technology solutions for the global retail foreign exchange (FX) trading industry, has experienced rapid growth in its trading volume over the past year. The company’s latest SEC report reveals that its trading volume increased by a staggering 657.6% during the three months ended March 31, 2023, compared to the same period in 2022. This growth can be attributed to the company’s resilience amid the ongoing COVID-19 pandemic and its expansion of financial services offerings.

I. Business Overview and Response to COVID-19

Nukkleus Inc. primarily offers its software, technology, customer sales, marketing, and risk management technology solutions package to TCM, operating under the FXDD brand. The company owns FOREXWARE, the primary software suite powering the FXDD brand, and has also acquired ownership of the FOREXWARE brand name, the customer interface, and other software trading solutions used by

Despite the uncertain global environment caused by the COVID-19 pandemic, Nukkleus Inc. has not experienced significant disruptions to its operations. The company attributes this resilience to the digital nature of its business, the technology it provides customers, and its employees’ ability to work remotely. The extent to which the pandemic will impact the company’s future business, operations, and financial results remains uncertain, dependent on factors such as the pandemic’s duration and scope, and actions taken by governments, businesses, and individuals in response.

II. Business Expansion and Acquisition Activities

In addition to its core software and technology solutions, Nukkleus Inc. has expanded its financial services offerings through several strategic acquisitions. In July 2018, the company incorporated Nukkleus Malta Holding Ltd., which in turn incorporated Markets Direct Technology Group Ltd (MDTG). MDTG manages the technology and IP behind the Markets Direct brand, operated by TCM.

In the fiscal year 2021, Nukkleus completed its acquisition of Match Financial Limited, a private limited company formed in England and Wales, engaged in providing payment services from one fiat currency to another. The company also recently acquired Jacobi Asset Management Holdings Limited and Digiclear Ltd, respectively, further expanding its business scope.

III. Key Performance Indicators (KPIs) and Financial Results

Nukkleus Inc.’s impressive growth in trading volume, increasing by 657.6% for the three months ended March 31, 2023, compared to the same period in 2022, significantly impacted its financial services revenue, which increased by 188.5% during the same period. Additionally, the company’s gross profit from financial services increased by 128.2% during the quarter.

Other notable KPIs for Nukkleus Inc. included a decrease in the average cost per trade and an increase in the number of active clients, reflective of the company’s efforts in expanding its financial services. Nukkleus Inc. anticipates that its revenue from financial services will continue to increase in the near future as it focuses on business expansion.

Conclusion: Nukkleus Inc.’s ability to adapt and grow amid the COVID-19 pandemic is evident through its recent success, as demonstrated by its substantial increase in trading volume and revenue from financial services. As the company continues to expand its financial services offerings and acquire new businesses, it solidifies its position in the global retail foreign exchange trading industry.

Note that we may hold securities mentioned in this article. All data is based on recent SEC filings. Even though we have implemented various manual and automatic fact-checking and data acquisition processes, some incorrect information may have slipped through (false positive). Let us know if you find any inconsistencies!