Saxo Bank Reports May Volumes

Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Magnates has found out Saxo Bank trading volume figures for May. During the month, average daily volumes (ADV) dropped 7.6% from April’s figures to $14.4 billion. Volumes represent total trading activity of both the bank's retail and institutional divisions. Despite the drop in volumes, activity during the month remains above the same period last year, where average daily volumes during the first half of 2012 were around $12 billion. During the first five months of the year, Saxo Bank has recorded ADV of around $16.5 billion, putting it above 35% last year’s figures.

As seen below, 2013 growth has been fueled by a great start of the year during January and February, with activity beginning to taper down. For perspective of how great their year started, when reporting its 2012 Annual Report, Saxo Bank added that “market activity is somewhat rebounding, and Saxo Bank’s net profit for the first two months of 2013 is already higher than for the full year of 2012”.