Saxo Bank Reports Marginal Rise in November FX Volumes

After a bearish month, the Saxo Bank has published details of trading activities on its brokerage platform, showing an uptrend in the market demand across all the asset classes, including 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).

The Danish brokerage reported a total trading volume of $270.7 billion in November, compared to the previous month’s $254.2 billion. That was a monthly volumetric increase of around 6.5 percent.

Saxo Bank offers trading services with commodities, equities, fixed income instruments and forex pairs.

Considering the individual asset classes, the forex volumes on Saxo came in at $117.6 billion with a marginal 2.9 percent jump month-on-month. The forex demand needed a significant boost to reach the average monthly levels of the first half of this year. Though, the November volumes are only higher than the reported numbers of October and January.

Moreover, the daily forex volumes on the brokerage surged to $5.6 billion last month, while in the previous month it was $5.2 billion.

Demand for equities also increased to $109.9 from October’s $104.5 billion, with a daily average of $5.2 billion.

Other asset class instruments witnessed a rise in their monthly trading demand. The monthly volume for commodities instruments surged to $33.9 billion and fixed volume instruments to $9.3 billion. In October, the trading volumes of these two asset classes were $30.8 billion and $4.7 billion, respectively.

The Uptrend in the Industry

Similar to Saxo Bank, trading demand across most of the other platforms also jumped last month. Finance Magnates earlier reported on the rising volumes on Cboe FX Markets, Integral, and Euronext, showing solid jumps. The trading volume on Russia’s MOEX mostly resembles the marginal growth on Saxo Bank with only a 3 percent monthly jump.