Danish multi-asset brokerage Saxo Bank has reported its monthly metrics for April 2017, which ultimately failed to overtake last month’s strong volumes, showing a renewed decline month-over-month across all business segments.
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Just one month ago, Saxo Bank’s trading volumes spiked higher by 19 percent month-over-month during March to a total of $376.7 billion. On an average daily volume basis, trading activity climbed to $16.4 billion, compared to just $15.8 billion in February 2017.
During April 2017, Saxo Bank saw its total average daily volumes drop to $14.2 billion, the lowest since December 2016 and also down -13.4 percent month-over-month from $16.4 billion in the month prior. Across a yearly timeframe, this figure also failed to best its 2016 equivalent, scoring a 3.4 percent decrease year-over-year from $14.7 billion in April 2016.
The latest volumes across the FX business were also reflective of a continued weakness, coming in at $10.3 billion in average daily foreign Exchange (FX) turnover for April. This signified a loss of 14.1 percent MoM from $12.0 billion in the month prior.
In terms of its total volume, Saxo Bank yielded a figure of $284.1 billion in April 2017, lower by 24.6 percent from $376.7 billion a month earlier. In addition, the latest figure is noticeably lower than the $307.8 billion in total volume secured last April 2016, which equates to a 7.7 percent loss year-over-year.
Last week, Saxo Bank reported its client collateral deposits, which soared to new heights. The group struck an all-time high of $15.0 billion (DKK 100 billion) due to increased Volatility and customer confidence in recent months.
