Saxo Bank’s FX September Volumes Strike Fresh 2016 Highs

Saxo Bank, a Danish multi asset broker, has largely pared its recent volumes gains after a tranquil August, securing a higher daily average in terms of volumes MoM – moreover, several key metrics at Saxo Bank reached yearly highs in 2016, including its client collateral deposits and total monthly volumes, according to a Saxo Bank statement.

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Saxo Bank’s overall 2016 volumes have not been held to a very tight consolidation, ultimately oscillating back and forth, reaching a yearly low in August 2016. However, September 2016 bounced off recent lows, coming in at $12.1 billion in average daily 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 (FX) turnover for the month. This was good for a rise of 26.0% MoM from just $9.6 billion in the month prior.

Over a yearly timetable, Saxo Bank’s latest average daily turnover is also higher by a margin of 23.5% YoY from $9.8 billion in September 2015. Looking over another key metric, Saxo Bank once again saw its total volume climb to a 2016 high, this time inking a figure of $266 billion, its highest level since 2014.

September 2016’s total volume at Saxo Bank was also higher by 20.4% MoM from $221 billion set back in August 2016. Extending the comparison to a yearly interval, September 2016’s total volume was also 23.1% higher YoY from $216 billion in September 2015 – the most recent month also managed to summit a previous 2016 high of $261 billion, which was fueled by Brexit Brexit Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Read this Term trading.

Finally, Saxo Bank’s client collateral deposits also continued their steady rise into September 2016, edging higher to $13.17 billion for the month, up by 2.2% MoM from $12.89 billion in August 2016 – this figure has risen in every month of 2016 and is currently operating at an all-time high. Relative to 2015 however, the latest deposits were also seeing a 22.8% growth from just $10.73 billion in September 2015.