Saxo Bank’s April Trading Volumes Weakest of 2017

Saxo Bank saw its average daily volumes drop to $14.2 billion, the lowest since December 2016.

Danish multi-asset brokerage Saxo Bank has reported its monthly metrics for April 2017, which ultimately failed to overtake last month’s strong volumes, showing a renewed decline month-over-month across all business segments.

The London Summit 2017 is coming, get involved!

Join the iFX EXPO Asia and discover your gateway to the Asian Markets

Just one month ago, Saxo Bank’s trading volumes spiked higher by 19 percent month-over-month during March to a total of $376.7 billion. On an average daily volume basis, trading activity climbed to $16.4 billion, compared to just $15.8 billion in February 2017.

Suggested articles

TrioMarkets Partners with HokoCloud, Expands its Portfolio with Social TradingGo to article >>

During April 2017, Saxo Bank saw its total average daily volumes drop to $14.2 billion, the lowest since December 2016 and also down -13.4 percent month-over-month from $16.4 billion in the month prior. Across a yearly timeframe, this figure also failed to best its 2016 equivalent, scoring a 3.4 percent decrease year-over-year from $14.7 billion in April 2016.

The latest volumes across the FX business were also reflective of a continued weakness, coming in at $10.3 billion in average daily foreign exchange (FX) turnover for April. This signified a loss of 14.1 percent MoM from $12.0 billion in the month prior.

In terms of its total volume, Saxo Bank yielded a figure of $284.1 billion in April 2017, lower by 24.6 percent from $376.7 billion a month earlier. In addition, the latest figure is noticeably lower than the $307.8 billion in total volume secured last April 2016, which equates to a 7.7 percent loss year-over-year.

Last week, Saxo Bank reported its client collateral deposits, which soared to new heights. The group struck an all-time high of $15.0 billion (DKK 100 billion) due to increased volatility and customer confidence in recent months.

Got a news tip? Let Us Know