After a jump in the trading volume in January, Saxo Bank witnessed a flat demand in February 2022. In the latest official trading metrics published by the Danish broker, the total monthly trading volume went down to $419.1 billion from the previous month’s $438 billion.
However, the average daily trading volume in the month marginally strengthened to $21 billion compared to $20.9 billion in January. This was because of only 20 trading days in February.
Coming to the individual asset class, the demand for forex instruments jumped by 4 percent month-over-month to touch $112.7 billion. However, this figure declined on a yearly basis by almost 6.3 percent. The average daily volume of FX strengthened to $5.6 billion from $5.2 billion.
Pull Back in Equities
In contrast, equities demand saw a substantial decline after it hit a record in January. The total monthly volume with equities instruments came in at $251.7 billion, declining by almost 14 percent from the previous month, but it jumped 83 percent year-over-year.
In addition, the demand for commodities and fixed income instruments listed by Saxo jumped significantly last month. In total, $43.9 billion worth of commodities were traded in February, which is a monthly jump of more than 45 percent. Moreover, the monthly volume of fixed income improved from $7.8 billion to $10.8 billion.
Headquartered in Denmark, Saxo is a major player in the retail brokerage industry. It has operations in many jurisdictions, even outside Europe. The group company recently revealed that its profits for 2021 came in at DKK 755 million, which remained flat when compared to the previous year. Although, it onboarded a record number of 263,000 new clients, taking the total clients tally to 820,000 at the end of the year.
