Europe’s prominent online financial trading services provider, Saxo Bank released its trading volumes for October 2021 today. Saxo saw a substantial jump in its Equities volume as the monthly figure reached $173.4 billion, compared to $145.7 billion in September 2021. However, the company’s monthly FX volume took a hit last month as the number dropped to $113 billion, compared to $123.2 billion in September 2021.
The FX average daily volume came in at $5.1 billion in October, compared to $5.4 billion last month. In October 2021, Saxo Bank’s daily average volume related to Equities reached $7.9 billion, which is significantly higher compared to $6.3 billion in September 2021. Fixed Income daily average volume remained stable in the month.
As far as commodities are concerned, the overall monthly volume climbed from $31.5 billion in September to $32.3 billion in October. However, the average daily volume related to commodities came in at $1.5 billion in October 2021, compared to $1.4 billion in September 2021.
Busy Year for Saxo Bank
2021 remained an active year for the Danish financial services firm. In addition to strong growth across Equities, FX and Commodities, the company expanded its services significantly. In October 2021, Saxo Bank expanded its crypto offering to meet growing demand. “Saxo Bank set out to provide a product which offers the security and ease of use associated with more traditional asset classes, coupled with the market trends and price dynamics of the crypto space,” Stanislav Kostyukhin, Commercial Owner for the Trader segment at Saxo, said in the announcement.
In terms of executive moves, Saxo announced the appointment of Camilla Dahl Hansen as Chief Saxo Experience Officer earlier this year. In September 2021, the financial trading services provider selected Damian Hitchen, an industry veteran with more than 20 years of experience in the global financial sector, as CEO of the MENA Region to accelerate its expansion.
