Danish multi-asset brokerage Saxo Bank has published its latest monthly volumes numbers. The company is reporting its best month for the year in March and its second best month after the November election of Donald Trump.
The total trading volume for the month amounted to $376.7 billion, $275.2 billion of which have been transacted on the foreign exchange market. The total monthly volume is higher when compared to February this year by just over 19 percent and by just under 19 percent when compared on a year-on-year basis.
Clients of Saxo Bank also transacted $31 billion in commodities, $55.3 billion in equities and $15.2 billion in fixed income trades. All of the numbers are higher than the previous month, by 22.5 percent, 29.2 and 24.5 percent respectively.
FP Markets Expands Its CFD Trading Offering in Commodities, Metals & IndicesGo to article >>
Total average daily volumes amounted to $16.4 billion, with FX totaling $12.0 billion, commodities $1.3 billion, equities $2.4 billion and fixed income netting $0.7 billion per day.
Saxo Bank’s clients have been mostly focused on moves in the foreign exchange market, which is the most popular asset class for the clients of the Danish bank. About 73 percent of trading volumes were transacted in FX, 15 percent in equities, 8 percent in commodities and 4 percent in fixed income.
The share of fixed income trading volumes at Saxo Bank doubled when compared to a year ago. The company invested heavily in developing an advanced electronic trading solution for bonds, which it launched in September last year.