August Brings Strongest Monthly Turnover for Saxo Bank in 2019

After a pretty sluggish start to the year and a particularly weak performance in July, Saxo Bank has managed to post a recovery and achieve its best overall monthly trading volume during the month of August.

The total monthly volume for August was $282.9 billion, with an average daily volume of $12.9 billion. This is the highest monthly value reported so far this year, with May achieving the second highest monthly volume of $273 billion.

When measuring this against the previous month, which recorded a monthly volume of $224 billion, August’s figure has increased by 26.3 percent. The monthly turnover achieved in August is also ever so slightly higher on a year-on-year comparison, as August of 2018 had a monthly turnover of $282.7 billion.

Breaking this total volume down, the monthly volume for foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term (Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term) for Saxo Bank was $139.1 billion in August. FX trading brings in the largest volumes for the multi-asset broker, far surpassing the other assets.

When weighing this against July, which had a monthly volume of $125.4 billion, it is higher by 10.9 percent. However, when comparing this against the monthly volume reported in August of 2018 ($196.4 billion), last month’s figure is lower by 29.2 percent. The daily average FX volume for August 2019 was $6.3 billion.

Saxo Bank sees significant MoM uptick in FI volume

The monthly trading volume for fixed income increased significantly in August from the previous month. Specifically, the monthly volume increased by 95.5 percent from $6.7 billion in July to $13.1 billion in August.

In August, Saxo Bank posted a monthly volume of $87.4 billion for equities, which is higher by 72 percent month on month. The daily average volume also rose by 81.8 percent to reach $4 billion during the month.

The monthly volume for commodities also increased when measured against July, however, not by much. In fact, with its volume coming in at $43.3 billion in August, this is only up by 5.4 percent month-on-month.