Saxo Bank’s FX September Volumes Strike Fresh 2016 Highs

Total monthly volume and client collateral deposits reached new 2016 highs in September.

Saxo Bank, a Danish multi asset broker, has largely pared its recent volumes gains after a tranquil August, securing a higher daily average in terms of volumes MoM – moreover, several key metrics at Saxo Bank reached yearly highs in 2016, including its client collateral deposits and total monthly volumes, according to a Saxo Bank statement.

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Saxo Bank’s overall 2016 volumes have not been held to a very tight consolidation, ultimately oscillating back and forth, reaching a yearly low in August 2016. However, September 2016 bounced off recent lows, coming in at $12.1 billion in average daily foreign exchange (FX) turnover for the month. This was good for a rise of 26.0% MoM from just $9.6 billion in the month prior.

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Over a yearly timetable, Saxo Bank’s latest average daily turnover is also higher by a margin of 23.5% YoY from $9.8 billion in September 2015. Looking over another key metric, Saxo Bank once again saw its total volume climb to a 2016 high, this time inking a figure of $266 billion, its highest level since 2014.

September 2016’s total volume at Saxo Bank was also higher by 20.4% MoM from $221 billion set back in August 2016. Extending the comparison to a yearly interval, September 2016’s total volume was also 23.1% higher YoY from $216 billion in September 2015 – the most recent month also managed to summit a previous 2016 high of $261 billion, which was fueled by Brexit trading.

Finally, Saxo Bank’s client collateral deposits also continued their steady rise into September 2016, edging higher to $13.17 billion for the month, up by 2.2% MoM from $12.89 billion in August 2016 – this figure has risen in every month of 2016 and is currently operating at an all-time high. Relative to 2015 however, the latest deposits were also seeing a 22.8% growth from just $10.73 billion in September 2015.

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