Saxo Bank August FX Volumes Fail to Best July Figures, Shed 10 Percent

In terms of its total volume, Saxo Bank yielded a figure of $348.4 billion in August 2017.

Danish multi-asset brokerage Saxo Bank has reported its monthly metrics for August 2017, which notched healthy gains in terms of its total volumes despite a lower ADV figure, showing a mixed performance month-over-month across its business segments.

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Just one month ago, Saxo Bank’s trading volumes spiked higher by 19.4 percent month-over-month during July to a total of $336.4 billion.

During August 2017, Saxo Bank saw its total ADV drop to $15.1 billion, shedding 5.6 percent month-over-month from $16.0 billion the month prior. Across a yearly timeframe however, this figure did manage to best its 2016 equivalent, scoring a 33.6 percent advance year-over-year from just $11.1 billion in August 2016.

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In terms of its total volume, Saxo Bank yielded a figure of $348.4 billion in August 2017, which despite being lower on an average daily basis, actually constitutes a 3.6 percent increase month-over-month from $336.4 billion registered earlier in July 2017. In addition, the latest figure is noticeably higher than the $260.8 billion in total volume secured in August 2016, which equates to a sizable 33.6 percent gain year-over-year.

The latest volumes across the FX business were reflective of a notable weak performance, coming in at $10.7 billion in average daily foreign exchange turnover for July. This reflected a drop of 10.0 percent month-on-month from $11.9 billion in the month prior, but once again showed a 32.0 percent surge year-on-year when compared with $8.1 billion set back last year.

The FX total trading volumes also failed to best their July 2017 counterparts, dropping 1.6 percent year-over-year to $245.1 billion relative to $249.2 billion in the previous month.

In terms of commodities average daily volume, Saxo Bank secured a climb for this segment after yielding a figure of $1.7 billion in July 2017, higher by 21.4 percent from the $1.4 billion reported in July 2016.

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