Saxo Bank's Trading Volumes Down for a Second Month in May 2015

Danish Multi-Asset broker Saxo Bank released today key metrics for the month of May 2015. The figures show that after a comeback peaking in March, trading volumes have been on a stable downward movement for the last two months.

The total monthly trading volume for Saxo Bank reached $219 billion in May 2015, down 1.35% from April’s figure of $222 billion. On a year-to-year comparison Saxo Bank did even worse, down from $234 billion in May 2014.

The daily average trading volume in May 2015 was just $10.4 billion, slightly better than the previous month, but still down from $11.4 billion in March and even less than May 2015’s $10.6 billion.

One bright spot for Saxo Bank in the previous two months is that their clients’ collateral deposits for trading kept increasing, reaching $11.46 billion in May 2015. This is the highest such figure ever, passing November 2014's record of $11.37 billion and over $2 billion more than clients’ collateral deposits for May 2015.

Last month, we reported exclusively that Saxo Bank would get the client book of Citigroup’s margin FX business in Singapore. Once that process is fully complete, it might lead to higher volumes in total for the broker.