Saxo Bank, a well-known brand in the retail trading space, released its monthly metrics for August, revealing a drop in monthly forex trading volume to $112.3 billion from the previous month’s $112.9 billion. The daily average volume also dropped to $4.9 billion from $5.4 billion, which is a decline of 9.2 percent.
Flat FX Demand on Saxo
The timid demand was expected due to the impact of the summer holidays on the trading demand. A similar trend can be seen across other trading venues, retail or institutional, as well. Since January, FX trading topped in March with a monthly volume of $155.6 billion.
Year-over-over, the latest demand in August strengthened. Saxo handled $109.8 billion in forex trading in August 2022, meaning the latest figures increased by a marginal 2.2 percent.
Saxo Bank is headquartered in Denmark and has a global presence, especially in Asia-Pacific. Apart from forex, its reported offerings include equities , commodities, and fixed income. It further offers crypto CFDs in specific markets, but those numbers are not reported on a regular basis.
Earlier this year, Denmark’s financial markets supervisor demanded that Saxo Bank dump its cryptocurrency holdings. Saxo additionally obtained the status of a Systemically Important Financial Institution (SIFI) in Denmark, meaning it is subjected to stringent capital requirements.
Equities Soar High
The demand for equities topped again in August with a monthly volume of $295.8 billion. It even increased from $222.1 billion in trading volume generated in July. The daily average with equities instruments was recorded at $12.9 billion, which is also higher from the $10.6 billion seen in July.
On top of that, commodities demand improved to $37.9 billion from $29.6 billion, while the volumes with fixed-income instruments rose to $7.8 billion from $7.3 billion.
Despite the flat FX demand, the volumes of other asset classes, especially equities, pushed the total monthly volume on Saxo to $453.7 billion, which is an increase of about 22 percent month-over-month and 40.5 percent year-over-year.
Saxo Bank, a well-known brand in the retail trading space, released its monthly metrics for August, revealing a drop in monthly forex trading volume to $112.3 billion from the previous month’s $112.9 billion. The daily average volume also dropped to $4.9 billion from $5.4 billion, which is a decline of 9.2 percent.
Flat FX Demand on Saxo
The timid demand was expected due to the impact of the summer holidays on the trading demand. A similar trend can be seen across other trading venues, retail or institutional, as well. Since January, FX trading topped in March with a monthly volume of $155.6 billion.
Year-over-over, the latest demand in August strengthened. Saxo handled $109.8 billion in forex trading in August 2022, meaning the latest figures increased by a marginal 2.2 percent.
Saxo Bank is headquartered in Denmark and has a global presence, especially in Asia-Pacific. Apart from forex, its reported offerings include equities , commodities, and fixed income. It further offers crypto CFDs in specific markets, but those numbers are not reported on a regular basis.
Earlier this year, Denmark’s financial markets supervisor demanded that Saxo Bank dump its cryptocurrency holdings. Saxo additionally obtained the status of a Systemically Important Financial Institution (SIFI) in Denmark, meaning it is subjected to stringent capital requirements.
Equities Soar High
The demand for equities topped again in August with a monthly volume of $295.8 billion. It even increased from $222.1 billion in trading volume generated in July. The daily average with equities instruments was recorded at $12.9 billion, which is also higher from the $10.6 billion seen in July.
On top of that, commodities demand improved to $37.9 billion from $29.6 billion, while the volumes with fixed-income instruments rose to $7.8 billion from $7.3 billion.
Despite the flat FX demand, the volumes of other asset classes, especially equities, pushed the total monthly volume on Saxo to $453.7 billion, which is an increase of about 22 percent month-over-month and 40.5 percent year-over-year.
