Danish multi-asset broker, Saxo Bank has reported its trading volumes for the month ending July 2015, which showed deteriorating figures relative to last month, according to a Saxo Bank statement.
Saxo Bank has been unable to orchestrate a sustained uptick in monthly trading volumes as late, despite reporting a figure of $241 billion during June 2015, which snapped a two-month downtrend.
For the month ending July 2015 however, total volume at Saxo Bank came in at just $181 billion, corresponding to a loss of -24.9% MoM from $241 billion in June 2015. Across its daily average volume however, July 2015’s figure of $7.9 billion also represents a drop of -28.2% MoM from $11.0 billion in June 2015.
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Across a yearly timeframe, July 2015 trading volumes are also off by -15.8% YoY from $215 billion in July 2014. Average volumes for Saxo Bank during July 2015 did not fare much better, underscoring a loss of -19.4% YoY from $9.8 billion in July 2014.
Despite the marked weakness in trading volumes during July 2015, the lone exception was Saxo Bank’s client collateral deposits, which managed to climb to $11.45 billion, up by less than 1% MoM from $11.41 billion in June 2015. Under a broader lens, this figure is substantially higher by a factor of 17.9% YoY from just $9.71 billion in July 2014.
Saxo Bank recently made headlines by strengthening its executive personnel, naming Philip Wegloop as its newest Chief Experience Officer (CXO). The newly created role of CXO will see Mr. Wegloop assuming the mantle of responsibility for Saxo Bank’s global user experience. The move was preceded the addition of Søren Kyhl as Saxo Bank’s Chief Operating Officer (COO).