Saxo Bank February Trading Volumes down 13% Despite Rise in Deposits

Copenhagen-based Multi-Asset broker, Saxo Bank, today released its key figures for the month of February 2014, showing a decline in trading volumes from the previous month. Total monthly volumes came in at just $264 billion for February, down 13.2% from the January's total of $304 billion.

The ADV for February was $13.2 billion per day, only 4.4% less than January's $13.8 billion, revealing that the lower number of business days played a role in the overall decrease of the monthly figures as the average traded volumes calculated is per business day.

Saxo Bank clients' collateral deposits for trading reached $8.67 billion in February, an increase of 6.9% or $560 million over the first month of the year's figure of $8.11 billion.

The metrics show a decline in trading volumes also on a yearly basis for Saxo. In February 2013, the monthly trading volumes were $368 billion and the ADV was $18.4 billion, a drop of 28.3% for both figures. Client deposits in February of last year were only $6.26 billion, so deposits are Saxo Bank's bright spot in its metrics also on a yearly comparison, with a 35.5% jump in the figure.