Danish multi-asset brokerage Saxo Bank has reported its monthly metrics for July 2017, which ultimately managed to overtake last month’s strong volumes, showing a continued growth across all business segments.
Last month, Saxo Bank’s total trading volumes spiked higher by 19 percent year-over-year to a total of $336.4 billion relative to $308.9 a year ago. Across a monthly timeframe, however, this figure failed to best its June equivalent, scoring a 2.8 percent decrease month-over-month from $346.0 billion in the month prior.
Q8 Trade Gains Recognition for ‘Most Trusted Trading Platform in MENA’Go to article >>
On an average daily volume basis, trading activity climbed to $16.0 billion, compared to just $14.7 billion in July 2017, gaining 8.8 percent year-over-year. In addition, Saxo Bank’s total average daily volumes secured a moderate increase of 1.9 percent month-on-month over June’s figures.
The latest volumes across the FX business were also reflective of a continued improvement, coming in at $11.9 billion in average daily foreign exchange (FX) turnover for July. This signified a gain of 8.18 percent month-on-month from $11.0 billion in the month prior, coupled with a 6.25 percent surge year-on-year.
In terms of commodities average daily volume, Saxo Bank yielded a figure of $1.4 billion in July 2017, higher by 27.3 percent from the $1.1 billion reported in July 2016. However, the latest figure is unchanged when weighed against the prior month’s volumes.