Saxo Bank Trading Volumes Continue Rising Steadily in October 2016
- In terms of its total volume, Saxo Bank yielded a figure of $266 billion in October 2016.
Danish multi-asset brokerage Saxo Bank has reported its monthly metrics for October 2016, which ultimately managed to overtake last month’s strong volumes, showing more advance MoM across its foreign exchange (FX) business.
Just one month ago, Saxo Bank’s trading volumes spiked higher by 20.4% MoM during September to a total of $221 billion. On an average daily volume basis, trading rose 26.0% to $12.1 billion, compared to just $9.6 billion in August 2016.
During October 2016, Saxo Bank saw its average daily volumes rise to $12.6 billion, good for a jump of 4.1% MoM from $12.1 billion in the month prior. Across a yearly timeframe, this figure does manage to best its 2015 equivalent, scoring a 27.2% advance YoY from just $9.9 billion in October 2015.
In terms of its total volume, Saxo Bank yielded a figure of $266 billion in October 2016, which despite being higher on average daily basis, actually constitutes a zero change MoM from the same figure registered earlier in September 2016. However, the latest figure is noticeably higher than the $218 billion in total volume secured last October 2015, which equates to a sizable 22.1% gain YoY.
Finally, Saxo Bank’s client collateral deposits was slightly lower by a factor of -1.2% MoM, amounting to $13.01 billion from $13.7 billion in September 2016. However, the figure notched a steady rise YoY as managed to climb by 15.7% from $11.24 billion in October 2015.
Saxo Bank made headlines this week after it signed a strategic partnership agreement with Egyptian investment bank EFG Hermes, which was founded in Egypt over 30 years ago and is focused on the MENA region. The new agreement will deliver to clients of EFG Hermes access to Saxo Bank’s SaxoTraderGO platform via EFG Hermes’ new online Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real-time updates on quotes, charts and is the main frontend which customers are facing.Brokers either use existing trading platforms and sometimes customize them, or develop their own platform from scratch. Since the beginning of the retail FX trading business MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have been the industry standard, especially when it comes to automated trading.MT4 Shows Resiliency While MT4 has long been seen as ubiquitous amongst brokers’ offerings, a targeted push by MetaQuotes themselves has led to broader adoption of MT5 in recent years. Advanced trading platforms such as MT4 or MT5 also allow access to a wide range of asset classes available for trading.The development of trading platforms over the past decade has failed to successfully dethrone MT4 or MT5, notably in the retail market. However, in institutional markets, brokerage companies and banking entities also construct and utilize proprietary currency trading platforms to help satisfy internal needs with trades executed through institutional trading channels.By far the most important parameter for many retail clients is the optionality and pairs available on trading platforms. Additionally, demand by traders has led to a greater emphasis on newer features such as advanced charting and other tools. In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real-time updates on quotes, charts and is the main frontend which customers are facing.Brokers either use existing trading platforms and sometimes customize them, or develop their own platform from scratch. Since the beginning of the retail FX trading business MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have been the industry standard, especially when it comes to automated trading.MT4 Shows Resiliency While MT4 has long been seen as ubiquitous amongst brokers’ offerings, a targeted push by MetaQuotes themselves has led to broader adoption of MT5 in recent years. Advanced trading platforms such as MT4 or MT5 also allow access to a wide range of asset classes available for trading.The development of trading platforms over the past decade has failed to successfully dethrone MT4 or MT5, notably in the retail market. However, in institutional markets, brokerage companies and banking entities also construct and utilize proprietary currency trading platforms to help satisfy internal needs with trades executed through institutional trading channels.By far the most important parameter for many retail clients is the optionality and pairs available on trading platforms. Additionally, demand by traders has led to a greater emphasis on newer features such as advanced charting and other tools. Read this Term, EFG Hermes One.
Danish multi-asset brokerage Saxo Bank has reported its monthly metrics for October 2016, which ultimately managed to overtake last month’s strong volumes, showing more advance MoM across its foreign exchange (FX) business.
Just one month ago, Saxo Bank’s trading volumes spiked higher by 20.4% MoM during September to a total of $221 billion. On an average daily volume basis, trading rose 26.0% to $12.1 billion, compared to just $9.6 billion in August 2016.
During October 2016, Saxo Bank saw its average daily volumes rise to $12.6 billion, good for a jump of 4.1% MoM from $12.1 billion in the month prior. Across a yearly timeframe, this figure does manage to best its 2015 equivalent, scoring a 27.2% advance YoY from just $9.9 billion in October 2015.
In terms of its total volume, Saxo Bank yielded a figure of $266 billion in October 2016, which despite being higher on average daily basis, actually constitutes a zero change MoM from the same figure registered earlier in September 2016. However, the latest figure is noticeably higher than the $218 billion in total volume secured last October 2015, which equates to a sizable 22.1% gain YoY.
Finally, Saxo Bank’s client collateral deposits was slightly lower by a factor of -1.2% MoM, amounting to $13.01 billion from $13.7 billion in September 2016. However, the figure notched a steady rise YoY as managed to climb by 15.7% from $11.24 billion in October 2015.
Saxo Bank made headlines this week after it signed a strategic partnership agreement with Egyptian investment bank EFG Hermes, which was founded in Egypt over 30 years ago and is focused on the MENA region. The new agreement will deliver to clients of EFG Hermes access to Saxo Bank’s SaxoTraderGO platform via EFG Hermes’ new online Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real-time updates on quotes, charts and is the main frontend which customers are facing.Brokers either use existing trading platforms and sometimes customize them, or develop their own platform from scratch. Since the beginning of the retail FX trading business MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have been the industry standard, especially when it comes to automated trading.MT4 Shows Resiliency While MT4 has long been seen as ubiquitous amongst brokers’ offerings, a targeted push by MetaQuotes themselves has led to broader adoption of MT5 in recent years. Advanced trading platforms such as MT4 or MT5 also allow access to a wide range of asset classes available for trading.The development of trading platforms over the past decade has failed to successfully dethrone MT4 or MT5, notably in the retail market. However, in institutional markets, brokerage companies and banking entities also construct and utilize proprietary currency trading platforms to help satisfy internal needs with trades executed through institutional trading channels.By far the most important parameter for many retail clients is the optionality and pairs available on trading platforms. Additionally, demand by traders has led to a greater emphasis on newer features such as advanced charting and other tools. In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real-time updates on quotes, charts and is the main frontend which customers are facing.Brokers either use existing trading platforms and sometimes customize them, or develop their own platform from scratch. Since the beginning of the retail FX trading business MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have been the industry standard, especially when it comes to automated trading.MT4 Shows Resiliency While MT4 has long been seen as ubiquitous amongst brokers’ offerings, a targeted push by MetaQuotes themselves has led to broader adoption of MT5 in recent years. Advanced trading platforms such as MT4 or MT5 also allow access to a wide range of asset classes available for trading.The development of trading platforms over the past decade has failed to successfully dethrone MT4 or MT5, notably in the retail market. However, in institutional markets, brokerage companies and banking entities also construct and utilize proprietary currency trading platforms to help satisfy internal needs with trades executed through institutional trading channels.By far the most important parameter for many retail clients is the optionality and pairs available on trading platforms. Additionally, demand by traders has led to a greater emphasis on newer features such as advanced charting and other tools. Read this Term, EFG Hermes One.