Following positive figures from the TFX earlier today, Saxo Bank has reported its November trading results. During the month, total client volumes were $251 billion, with average daily volume (ADV) of $11.4 billion. The volumes were 5.5% and 9.6% higher respectively than October’s activity. The ADV number was the highest at Saxo Bank since July of this year.
Saxo Bank also posted that client assets rose to $7.83 billion from $7.66 billion in October, an all-time record for the broker. The consistent increase in client assets at the firm has occurred even as trading volumes in the second half of 2013 have trailed those of earlier in the year. During an interview with Saxo Bank’s Co-CEO, Kim Fournais last month, he pointed to the bank’s very diverse multi-asset offering as one the company’s advantages, and that client interests are currently shifting away from just Forex. In terms of average client size, the variety of offerings allows the firm to have greater appeal to asset managers and longer term investors.
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