Saxo Bank Trading Volumes Hit Highest Level Since January 2015

Saxo Bank’s clients in January traded the most since the month of the Swiss franc debacle.

Saxo Bank has become the latest brokerage to publish condensed monthly data on the trading activity of its clients for the month of January. The first report for 2016 tells of trading volumes spiking higher by 14.6 per cent in January to a total of $258 billion. On an average daily volume basis, trading rose an even more impressive 31.6 per cent to $12.9 billion compared to $9.8 billion in December.

The trading activity of Saxo Bank’s clients has been spread across a multitude of asset classes to contribute to January’s sharp spike. The figures for both average daily volume and total volume were the highest since last January, when the company reported a record breaking $302 billion.

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While last year the market conditions were extraordinary and a number of brokers suffered losses, this year’s volatility has been rather beneficial for companies in the industry. With the Bank of Japan and the Chinese market volatility triggering a lot of foreign exchange flows, the appetite for risk taking prompted clients to trade more last month.

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Saxo Bank YoY Monthly Volumes01-01

With the increase in volatility, client assets however have declined. This can be related to Saxo Bank traders taking profits on their positions in the stock market or getting hit by the unpredictable market conditions which lasted throughout January.

Trading activity was definitely higher throughout the month and markets have been relatively volatile, which has played a positive role for the figures, but the final trading day of the month was the key factor for all brokerage houses last month. The Bank of Japan surprised the markets and prompted a liquidation of short Japanese yen positions, driving volumes twice the regular size.

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