Denmark-headquartered Saxo Bank reported a total trading volume of $438.3 billion in September, down from $453.7 billion from the previous month, a month-over-month decline of 3.4 percent. However, the daily average improved to $20.9 billion from $19.7 billion due to the lower number of trading days last month.
The forex trading volume on the brokerage platform came in at $106.1 billion, 5.5 percent down from the previous month’s $112.3 billion. Year-over-year, the figure came down by more than 27 percent.
The daily average of the FX trading last month came in at $5.1 billion, increasing from $4.9 million in the previous month but declining from $6.7 billion in the same month of the previous year.
Although FX dominated Saxo’s offering once, now, equities become the most significant driver of the overall trading volume. The monthly volume of equities came in at $289.1 billion, down month-over-month by 2.2 percent but improved year-over-year by 16.6 percent.
Saxo’s offerings also include commodities and fixed-income instruments. The $36.7 billion monthly volume of commodities declined from the previous month’s $37.9 billion. For fixed income, the drop was from $7.8 billion to $6.8 billion.
Trading volume on Saxo Bank in September
Expanding Overseas Presence
In the overseas market, primarily in the Asia Pacific, Saxo offers a broader range of products, including cryptocurrency contracts for differences (CFDs). However, the Danish group does not publish the demand for those products on a monthly basis. The group is also expanding its reach in the overseas markets with partnerships.
Meanwhile, the operating profit of Saxo skyrocketed to DKK 520 million in the first half of the ongoing year, an increase of 34 percent. Although there was a decline in trading and investment activity among its clients, the increased interest income offset the impact.
Denmark-headquartered Saxo Bank reported a total trading volume of $438.3 billion in September, down from $453.7 billion from the previous month, a month-over-month decline of 3.4 percent. However, the daily average improved to $20.9 billion from $19.7 billion due to the lower number of trading days last month.
The forex trading volume on the brokerage platform came in at $106.1 billion, 5.5 percent down from the previous month’s $112.3 billion. Year-over-year, the figure came down by more than 27 percent.
The daily average of the FX trading last month came in at $5.1 billion, increasing from $4.9 million in the previous month but declining from $6.7 billion in the same month of the previous year.
Although FX dominated Saxo’s offering once, now, equities become the most significant driver of the overall trading volume. The monthly volume of equities came in at $289.1 billion, down month-over-month by 2.2 percent but improved year-over-year by 16.6 percent.
Saxo’s offerings also include commodities and fixed-income instruments. The $36.7 billion monthly volume of commodities declined from the previous month’s $37.9 billion. For fixed income, the drop was from $7.8 billion to $6.8 billion.
Trading volume on Saxo Bank in September
Expanding Overseas Presence
In the overseas market, primarily in the Asia Pacific, Saxo offers a broader range of products, including cryptocurrency contracts for differences (CFDs). However, the Danish group does not publish the demand for those products on a monthly basis. The group is also expanding its reach in the overseas markets with partnerships.
Meanwhile, the operating profit of Saxo skyrocketed to DKK 520 million in the first half of the ongoing year, an increase of 34 percent. Although there was a decline in trading and investment activity among its clients, the increased interest income offset the impact.
