Danish Multi-Asset brokerage, Saxo Bank has published its trading metrics for the month of January 2021, showing mixed demand for the different asset classes. While Equities volume soared, FX went down.
According to the published figures, the total volume of forex traded on the platform last month came in at $118.2 billion, compared to December 2020’s $128.1 billion. That was a month-on-month decline of 7.7 percent.
Though January’s numbers were lower than most of the months last year, they were 2.7 percent higher than the corresponding month a year ago. Saxo’s monthly FX volumes in January 2020 were $115 billion.
Despite the dip in the total volume, the daily FX average last month went up to $5.9 billion from December’s $5.6 billion.
Strong Demand for Equities
Coming to the equities, the total trading volume surged significantly last month, jumping to $123.2 billion from $91.8 billion in December, a massive monthly surge of 34.2 percent. The numbers are even better when compared to year-on-year, as the total equities volume on Saxo in January 2020 was only $82.1 billion.
Moreover, Saxo Bank offers trading services with commodities and fixed income instruments, and the demand for both the asset classes surged. The total monthly volume with commodities remained $32.7 billion from the previous month’s $28.1 billion. Fixed income volumes for the month came in at $7.7 billion, compared to December’s $6.2 billion.
With a solid performance in almost all asset classes, the overall monthly volume in January went up by 10.85 percent to $281.8 billion with a daily trading average of $14.1 billion.
Furthermore, FX volumes on other platforms remained strong at the beginning of 2021. Finance Magnates earlier reported on the trading demand on Intercontinental Exchange, Integral, FXSpotStream, and others, all of which showed positive growth.
