Following today’s release of June volumes from the Tokyo Financial Exchange, we get our first look at broker figures. Saxo Bank becomes the first firm to report their June calculated figures with average daily volumes rising to $14.6 billion. The figure represents a 1.4% increase from May, and a greater than 13% rise from the same period last year. Volumes represent total trading activity of both the bank’s retail and institutional divisions. During the first half of the 2013, Saxo Bank registered average monthly volumes of $346 billon, compared to $252 billion in 2012.
For Saxo Bank, the year over year gains continue to show that the broker has rebounded from 2012, which Co-Founders and CEOs of Saxo Bank, Kim Fournais and Lars Seier Christensen, described as “unsatisfactory” in their Annual Report. Following restructuring that has taken place at the firm, which included the sale of non-trading related businesses and the consolidation of foreign offices, Saxo Bank has refocused itself as a leaner operation which is expected to be more profitable in 2013.
Trading Places: Finding The Best Jurisdiction for Your BrokerageGo to article >>
Looking ahead, we continue to anticipate the release of June figures, with results from industry leaders, EBS, CME Group, and GMO Click expected to be reported this week.