Saxo Bank Reports Marginal Rise in November FX Volumes

Last month’s trading volumes were just above January and October numbers.

After a bearish month, the Saxo Bank has published details of trading activities on its brokerage platform, showing an uptrend in the market demand across all the asset classes, including foreign exchange (forex).

The Danish brokerage reported a total trading volume of $270.7 billion in November, compared to the previous month’s $254.2 billion. That was a monthly volumetric increase of around 6.5 percent.

Saxo Bank offers trading services with commodities, equities, fixed income instruments and forex pairs.

Considering the individual asset classes, the forex volumes on Saxo came in at $117.6 billion with a marginal 2.9 percent jump month-on-month. The forex demand needed a significant boost to reach the average monthly levels of the first half of this year. Though, the November volumes are only higher than the reported numbers of October and January.

Suggested articles

EuropeFX Partners with Acuity for AI-Powered News Sentiment AnalysisGo to article >>

Moreover, the daily forex volumes on the brokerage surged to $5.6 billion last month, while in the previous month it was $5.2 billion.

Demand for equities also increased to $109.9 from October’s $104.5 billion, with a daily average of $5.2 billion.

Other asset class instruments witnessed a rise in their monthly trading demand. The monthly volume for commodities instruments surged to $33.9 billion and fixed volume instruments to $9.3 billion. In October, the trading volumes of these two asset classes were $30.8 billion and $4.7 billion, respectively.

The Uptrend in the Industry

Similar to Saxo Bank, trading demand across most of the other platforms also jumped last month. Finance Magnates earlier reported on the rising volumes on Cboe FX Markets, Integral, and Euronext, showing solid jumps. The trading volume on Russia’s MOEX mostly resembles the marginal growth on Saxo Bank with only a 3 percent monthly jump.

Got a news tip? Let Us Know