Danish multi asset brokerage Saxo Bank today reported its financial trading metrics for February 2017, showing weaker FX volumes. The firm also added another level of transparency to its trading volumes reports – providing a detailed breakdown by asset class, offering extra details on its trading volumes.
In total, Saxo Bank’s monthly volume across all asset classes combined reached just $316.1 billion in February 2017, down about 14.5% from $370 billion in January. FX monthly volumes, which constitute the majority of the volumes and all of the month-over-month drop, reached just $235.9 billion in February at Saxo Bank, down about 20% from $295.2 in January.
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All of the other asset classes experienced an uptick in trading volumes during the month for Saxo Bank. Fixed income monthly volume rose to $12.2 billion in February up from $9.9 billion in January. Equities monthly volume increased to $42.8 billion from $40.5 billion the month prior and the monthly trading volume for Commodities went up to $25.3 billion from $24.4 in January 2017.
Earlier this month we reported that Saxo Bank is closing its office in Limassol, Cyprus. Clients of the firm from Central and Eastern Europe (CEE) as well as from the Middle East and North Africa (MENA) will continue to receive services from Prague, Dubai and Copenhagen.