Saxo Bank’s May FX Volumes Held in Tight Consolidation

Danish multi asset broker, Saxo Bank, has just reported its monthly turnover volumes for May 2016, having reverted back to a downtrend that was largely unabated since the beginning of the year, according to a Saxo Bank statement.

The new world of Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term, fintech and marketing – register now for the Finance Magnates Tel Aviv Conference, June 29th 2016.

With the notable exception of April, every month of 2016 has seen diminishing 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) volumes at Saxo Bank, though its total monthly volume has been more convoluted. Following a rebound last month, May 2016’s average daily FX turnover came in at only $11.6 billion, correlating to a decline of -6.5% MoM from $12.4 billion in April 2016.

In addition, Saxo Bank’s total monthly volume was held in a narrow consolidation, inching lower marginally to $255 billion in May 2016 from $260 billion in April 2016, or -1.9% MoM. Across a yearly timetable, the latest figures illustrate a growth of 16.4% YoY from $219 billion in May 2015 – Saxo’s turnover has refused to waiver outside a tight band in 2016, encompassing a narrow range of just $6.0 billion thus far. Relative to other brokers, Saxo Bank has avoided staunch declines in its volumes, as many other venues have suffered more pronounced downtrends.

Finally, Saxo Bank’s client collateral deposits again underwent a methodical rise in May 2016, climbing to $12.22 billion in April 2016, up by 1.3% MoM from $12.06 billion in April 2016 – this figure has now risen in every month of 2016. Looking at a YoY comparison however, this figure was also higher by a factor of 6.6% YoY from $11.46 billion in May 2015.