Saxo Bank has reported its monthly metrics for October 2015, which saw rebounding volumes off of last month’s lackluster performance across its foreign Exchange (FX) business.
Last month, Saxo Bank incurred a decline across its average daily volumes to the tune of -6.7% for the month to $9.8 billion from August’s $10.5 billion. Overall however, the Danish broker reported $216 billion in assets traded during the month of September 2015. The drop in trading activity was similar to the results experienced at other trading venues such as the CME, HotspotFX, and EBS, with September’s lack of Volatility underpinning overall volumes.
For the month ending October 2015, Saxo Bank saw its average daily volumes rise to $9.9 billion, up 1.0% MoM from $9.8 billion in September 2015. Across its yearly timeframe however, this figure pales in comparison to its 2014 equivalent, representing a loss of -42.1% YoY from $17.1 billion in October 2014.
In terms of its total volume, Saxo Bank yielded a figure of $218 billion in October 2015, corresponding to a marginal growth of less than 1.0% MoM from $216 billion in September 2015. The latest figure also is noticeably lower than the $392 billion in total volume secured last October 2014, which equates to a -44.4% loss YoY.
Finally, Saxo Bank’s client collateral deposits also notched a steady rise MoM, which managed to climb to $11.24 billion in October 2015, up by 4.8% MoM from $10.73 billion in September 2015. Under a broader lens, this figure is also higher by a factor of 7.6% YoY from just $9.97 billion in October 2014.
