The firm beats a three-month drop in FX volume and sees $155 billion in March 2023.
Lower trading activities bit 6% into Saxo Bank's profit in 2022.
Saxo Bank, a Danish investment
bank specializing in online trading and investment, released its monthly
trading volume on Wednesday, reporting a reversal of the three-month drop in
its total monthly forex volume. The volume jumped 40% from $110.8 billion in
February to $155.5 billion in March 2023.
FX Volume Rises Beyond December Low
The volume rose overhead last
month after consistently dropping month-over-month from $138 billion in
November. In December, the volume slumped 12% to $121.3 billion and further
declined to $115.2 billion in January before worsening to $110.8 billion in February.
Additionally, the daily average of the FX
volume followed a similar pattern: In November, the ADV dropped 3% to
$6.3 billion, sank further to $5.5 billion in December and declined again to
$5.2 billion in January. However, in February, the ADV rose to $5.5 billion and
further shot up 24% to 6.8% in March 2023.
How Other Assets Performed
Unlike the forex volume, the
volumes of trading in other asset classes created a different pattern. For
commodities, total monthly volumes have been increasing marginally since the start
of the year. In January, total monthly volumes rose 6% to $32.8 billion and
increased slightly to $32.9 billion in February before rising significantly to
$44.2 billion last month.
In addition, the ADV for this asset class increased from $1.5 billion in January to $1.6 billion in February and
further rose to $1.9 billion in March 2023.
Source: Saxo Bank
Equities trading in January shot
up 14% to reach $219.7 billion. However, the volume declined to $208 billion
in February but rose 25% to $259.9 billion in March. On the contrary, while
the ADV slumped 14% to $10 billion in January, it rose marginally to $10.4
billion in February and $11.3 billion in March.
In the fixed income category,
monthly volume remained static at $7.9 billion in January. However, the volume
rose to $8 billion in February and skyrocketed 180% to $22.4 billion in
March. In the same vein, the ADV of fixed income returned stagnant at $400
million in January and remained stable month-over-month until it shot up 150% to $1 billion last month.
Saxo Bank Sees Best Month since March 2020
Across the board, Saxo Bank’s
overall monthly volume rose 34% to $482.1 billion in March, which is up from $359.8
billion in the prior month. Similarly, overall ADV increased 17% to $21
billion in March 2023.
The overall $482.1 billion generated in March 2023 is the online trading firm's best monthly volume since March 2020 when volatility from the COVID-19 pandemic spiked the monthly volume to $496.8 billion.
Meanwhile, in 2022, lower
trading activities bit 6% into Saxo Bank’s profit. The online trading firm’s trading-related earnings decreased 2% year-over-year to DKK 4.85 billion in 2022 despite
record-high total clients numbering 876,000.
Saxo Bank, a Danish investment
bank specializing in online trading and investment, released its monthly
trading volume on Wednesday, reporting a reversal of the three-month drop in
its total monthly forex volume. The volume jumped 40% from $110.8 billion in
February to $155.5 billion in March 2023.
FX Volume Rises Beyond December Low
The volume rose overhead last
month after consistently dropping month-over-month from $138 billion in
November. In December, the volume slumped 12% to $121.3 billion and further
declined to $115.2 billion in January before worsening to $110.8 billion in February.
Additionally, the daily average of the FX
volume followed a similar pattern: In November, the ADV dropped 3% to
$6.3 billion, sank further to $5.5 billion in December and declined again to
$5.2 billion in January. However, in February, the ADV rose to $5.5 billion and
further shot up 24% to 6.8% in March 2023.
How Other Assets Performed
Unlike the forex volume, the
volumes of trading in other asset classes created a different pattern. For
commodities, total monthly volumes have been increasing marginally since the start
of the year. In January, total monthly volumes rose 6% to $32.8 billion and
increased slightly to $32.9 billion in February before rising significantly to
$44.2 billion last month.
In addition, the ADV for this asset class increased from $1.5 billion in January to $1.6 billion in February and
further rose to $1.9 billion in March 2023.
Source: Saxo Bank
Equities trading in January shot
up 14% to reach $219.7 billion. However, the volume declined to $208 billion
in February but rose 25% to $259.9 billion in March. On the contrary, while
the ADV slumped 14% to $10 billion in January, it rose marginally to $10.4
billion in February and $11.3 billion in March.
In the fixed income category,
monthly volume remained static at $7.9 billion in January. However, the volume
rose to $8 billion in February and skyrocketed 180% to $22.4 billion in
March. In the same vein, the ADV of fixed income returned stagnant at $400
million in January and remained stable month-over-month until it shot up 150% to $1 billion last month.
Saxo Bank Sees Best Month since March 2020
Across the board, Saxo Bank’s
overall monthly volume rose 34% to $482.1 billion in March, which is up from $359.8
billion in the prior month. Similarly, overall ADV increased 17% to $21
billion in March 2023.
The overall $482.1 billion generated in March 2023 is the online trading firm's best monthly volume since March 2020 when volatility from the COVID-19 pandemic spiked the monthly volume to $496.8 billion.
Meanwhile, in 2022, lower
trading activities bit 6% into Saxo Bank’s profit. The online trading firm’s trading-related earnings decreased 2% year-over-year to DKK 4.85 billion in 2022 despite
record-high total clients numbering 876,000.
Solomon Oladipupo is a journalist and editor from Nigeria that covers the tech, FX, fintech and cryptocurrency industries. He is a former assistant editor at AgroNigeria Magazine where he covered the agribusiness industry. Solomon holds a first-class degree in Journalism & Mass Communication from the University of Lagos where he graduated top of his class.
SpaceX IPO Reaches Prop Trading as The Trading Pit Markets SPCX Debut Access
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Precious Insights: APAC's Bullion Market amid Record Volatility
Precious Insights: APAC's Bullion Market amid Record Volatility
Precious Insights: APAC's Bullion Market amid Record Volatility
Precious Insights: APAC's Bullion Market amid Record Volatility
The precious metals rally has challenged how brokers and LPs think about hedging, pricing, and physical delivery. But with regional banks eyeing physical gold retail and bullion brokers across Southeast Asia harnessing new tech, volatility is not only in 'safe havens'.
This session gathers practitioners from across the bullion ecosystem to unpack what the rally means on the ground in APAC.
Attendees will walk away with:
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Understanding of Singapore's distinct role as APAC's bullion gateway, and competition near and far
Perspective on operational challenges unique to APAC: kilogram pricing, local delivery, and bridging CFD and physical bullion infrastructure
The precious metals rally has challenged how brokers and LPs think about hedging, pricing, and physical delivery. But with regional banks eyeing physical gold retail and bullion brokers across Southeast Asia harnessing new tech, volatility is not only in 'safe havens'.
This session gathers practitioners from across the bullion ecosystem to unpack what the rally means on the ground in APAC.
Attendees will walk away with:
Insight into the physical market dynamics driving retail demand across Southeast Asia, from central bank buying to store-of-value purchases
Understanding of Singapore's distinct role as APAC's bullion gateway, and competition near and far
Perspective on operational challenges unique to APAC: kilogram pricing, local delivery, and bridging CFD and physical bullion infrastructure
The precious metals rally has challenged how brokers and LPs think about hedging, pricing, and physical delivery. But with regional banks eyeing physical gold retail and bullion brokers across Southeast Asia harnessing new tech, volatility is not only in 'safe havens'.
This session gathers practitioners from across the bullion ecosystem to unpack what the rally means on the ground in APAC.
Attendees will walk away with:
Insight into the physical market dynamics driving retail demand across Southeast Asia, from central bank buying to store-of-value purchases
Understanding of Singapore's distinct role as APAC's bullion gateway, and competition near and far
Perspective on operational challenges unique to APAC: kilogram pricing, local delivery, and bridging CFD and physical bullion infrastructure
The precious metals rally has challenged how brokers and LPs think about hedging, pricing, and physical delivery. But with regional banks eyeing physical gold retail and bullion brokers across Southeast Asia harnessing new tech, volatility is not only in 'safe havens'.
This session gathers practitioners from across the bullion ecosystem to unpack what the rally means on the ground in APAC.
Attendees will walk away with:
Insight into the physical market dynamics driving retail demand across Southeast Asia, from central bank buying to store-of-value purchases
Understanding of Singapore's distinct role as APAC's bullion gateway, and competition near and far
Perspective on operational challenges unique to APAC: kilogram pricing, local delivery, and bridging CFD and physical bullion infrastructure
License to Fill: Market Liquidity amid Global Turmoil
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Asian markets bear unique characteristics, from connectivity to asset preference. The Singapore Summit will connect global executives and local experts across the liquidity chain to discuss volatility fluctuations, diversification vs over-reliance on single assets, and the role of trust and liquidity relationships in an increasingly automated sphere.
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Regional Focus: Thailand, Vietnam
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Bangkok is consolidating as Southeast Asia's broker hub for CLMV access, while Vietnam's trading volumes have made it harder to ignore from any regional headquarters. Most brokers know both exist. Fewer have tested what operating there actually requires.
This session gathers practitioners with on-the-ground experience in both markets to examine what it takes to build and run operations in Thailand and Vietnam.
Attendees will walk away with:
A clear view of setup requirements in both markets: entity structures, timelines, and what first-time operators tend to get wrong
Understanding of the offshore broker model and how compliant operators work within domestic restrictions in each jurisdiction
Insight into talent acquisition, client onboarding, and distribution in markets where language, culture, and acquisition channels don't follow standard APAC assumptions
Perspective on adjacent Southeast Asian markets worth monitoring for the next regional move
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This session gathers practitioners with on-the-ground experience in both markets to examine what it takes to build and run operations in Thailand and Vietnam.
Attendees will walk away with:
A clear view of setup requirements in both markets: entity structures, timelines, and what first-time operators tend to get wrong
Understanding of the offshore broker model and how compliant operators work within domestic restrictions in each jurisdiction
Insight into talent acquisition, client onboarding, and distribution in markets where language, culture, and acquisition channels don't follow standard APAC assumptions
Perspective on adjacent Southeast Asian markets worth monitoring for the next regional move
Bangkok is consolidating as Southeast Asia's broker hub for CLMV access, while Vietnam's trading volumes have made it harder to ignore from any regional headquarters. Most brokers know both exist. Fewer have tested what operating there actually requires.
This session gathers practitioners with on-the-ground experience in both markets to examine what it takes to build and run operations in Thailand and Vietnam.
Attendees will walk away with:
A clear view of setup requirements in both markets: entity structures, timelines, and what first-time operators tend to get wrong
Understanding of the offshore broker model and how compliant operators work within domestic restrictions in each jurisdiction
Insight into talent acquisition, client onboarding, and distribution in markets where language, culture, and acquisition channels don't follow standard APAC assumptions
Perspective on adjacent Southeast Asian markets worth monitoring for the next regional move
Bangkok is consolidating as Southeast Asia's broker hub for CLMV access, while Vietnam's trading volumes have made it harder to ignore from any regional headquarters. Most brokers know both exist. Fewer have tested what operating there actually requires.
This session gathers practitioners with on-the-ground experience in both markets to examine what it takes to build and run operations in Thailand and Vietnam.
Attendees will walk away with:
A clear view of setup requirements in both markets: entity structures, timelines, and what first-time operators tend to get wrong
Understanding of the offshore broker model and how compliant operators work within domestic restrictions in each jurisdiction
Insight into talent acquisition, client onboarding, and distribution in markets where language, culture, and acquisition channels don't follow standard APAC assumptions
Perspective on adjacent Southeast Asian markets worth monitoring for the next regional move
Bangkok is consolidating as Southeast Asia's broker hub for CLMV access, while Vietnam's trading volumes have made it harder to ignore from any regional headquarters. Most brokers know both exist. Fewer have tested what operating there actually requires.
This session gathers practitioners with on-the-ground experience in both markets to examine what it takes to build and run operations in Thailand and Vietnam.
Attendees will walk away with:
A clear view of setup requirements in both markets: entity structures, timelines, and what first-time operators tend to get wrong
Understanding of the offshore broker model and how compliant operators work within domestic restrictions in each jurisdiction
Insight into talent acquisition, client onboarding, and distribution in markets where language, culture, and acquisition channels don't follow standard APAC assumptions
Perspective on adjacent Southeast Asian markets worth monitoring for the next regional move
Bangkok is consolidating as Southeast Asia's broker hub for CLMV access, while Vietnam's trading volumes have made it harder to ignore from any regional headquarters. Most brokers know both exist. Fewer have tested what operating there actually requires.
This session gathers practitioners with on-the-ground experience in both markets to examine what it takes to build and run operations in Thailand and Vietnam.
Attendees will walk away with:
A clear view of setup requirements in both markets: entity structures, timelines, and what first-time operators tend to get wrong
Understanding of the offshore broker model and how compliant operators work within domestic restrictions in each jurisdiction
Insight into talent acquisition, client onboarding, and distribution in markets where language, culture, and acquisition channels don't follow standard APAC assumptions
Perspective on adjacent Southeast Asian markets worth monitoring for the next regional move
Join The Club: What Premium Clients Want
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High-net-worth traders account for an outsized portion of revenues for various retail brokers.
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Attendees will walk away with:
Understanding of how brokers view premium clients (beyond deposit size).
Insight into which services, products, and benefits increase trust and LTV.
Examples of offerings that scale without inflating cost or operational burden.
Lessons from leading brokers on growing premium segments and what’s next.
High-net-worth traders account for an outsized portion of revenues for various retail brokers.
This session will gather heads of premium, acquisition, and product experts to reveal how they build their client base in Asia.
Attendees will walk away with:
Understanding of how brokers view premium clients (beyond deposit size).
Insight into which services, products, and benefits increase trust and LTV.
Examples of offerings that scale without inflating cost or operational burden.
Lessons from leading brokers on growing premium segments and what’s next.
High-net-worth traders account for an outsized portion of revenues for various retail brokers.
This session will gather heads of premium, acquisition, and product experts to reveal how they build their client base in Asia.
Attendees will walk away with:
Understanding of how brokers view premium clients (beyond deposit size).
Insight into which services, products, and benefits increase trust and LTV.
Examples of offerings that scale without inflating cost or operational burden.
Lessons from leading brokers on growing premium segments and what’s next.
High-net-worth traders account for an outsized portion of revenues for various retail brokers.
This session will gather heads of premium, acquisition, and product experts to reveal how they build their client base in Asia.
Attendees will walk away with:
Understanding of how brokers view premium clients (beyond deposit size).
Insight into which services, products, and benefits increase trust and LTV.
Examples of offerings that scale without inflating cost or operational burden.
Lessons from leading brokers on growing premium segments and what’s next.
High-net-worth traders account for an outsized portion of revenues for various retail brokers.
This session will gather heads of premium, acquisition, and product experts to reveal how they build their client base in Asia.
Attendees will walk away with:
Understanding of how brokers view premium clients (beyond deposit size).
Insight into which services, products, and benefits increase trust and LTV.
Examples of offerings that scale without inflating cost or operational burden.
Lessons from leading brokers on growing premium segments and what’s next.
High-net-worth traders account for an outsized portion of revenues for various retail brokers.
This session will gather heads of premium, acquisition, and product experts to reveal how they build their client base in Asia.
Attendees will walk away with:
Understanding of how brokers view premium clients (beyond deposit size).
Insight into which services, products, and benefits increase trust and LTV.
Examples of offerings that scale without inflating cost or operational burden.
Lessons from leading brokers on growing premium segments and what’s next.
Buying The Deep: Digital Asset Adoption in APAC and Beyond
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This session brings together market structure experts and institutional investors to explore how a prolonged bear market affects their long-term strategy, and where the opportunities lie ahead of the next cycle.
Attendees will walk away with:
First-hand account of the bear market's impact on various industry players
Understanding of what custody, connectivity, and settlement gaps still hamper growth in APAC
Insight into how client mandates and operational readiness are shaping who moves and who waits
Perspective on what institutional investors need to move toward actual digital asset capital deployment
The persisting price drops test the industry's commitment to crypto adoption. While on-chain innovation is making headway across market mechanics, from stablecoins to tokenization, investors remains cautious.
This session brings together market structure experts and institutional investors to explore how a prolonged bear market affects their long-term strategy, and where the opportunities lie ahead of the next cycle.
Attendees will walk away with:
First-hand account of the bear market's impact on various industry players
Understanding of what custody, connectivity, and settlement gaps still hamper growth in APAC
Insight into how client mandates and operational readiness are shaping who moves and who waits
Perspective on what institutional investors need to move toward actual digital asset capital deployment
The persisting price drops test the industry's commitment to crypto adoption. While on-chain innovation is making headway across market mechanics, from stablecoins to tokenization, investors remains cautious.
This session brings together market structure experts and institutional investors to explore how a prolonged bear market affects their long-term strategy, and where the opportunities lie ahead of the next cycle.
Attendees will walk away with:
First-hand account of the bear market's impact on various industry players
Understanding of what custody, connectivity, and settlement gaps still hamper growth in APAC
Insight into how client mandates and operational readiness are shaping who moves and who waits
Perspective on what institutional investors need to move toward actual digital asset capital deployment
The persisting price drops test the industry's commitment to crypto adoption. While on-chain innovation is making headway across market mechanics, from stablecoins to tokenization, investors remains cautious.
This session brings together market structure experts and institutional investors to explore how a prolonged bear market affects their long-term strategy, and where the opportunities lie ahead of the next cycle.
Attendees will walk away with:
First-hand account of the bear market's impact on various industry players
Understanding of what custody, connectivity, and settlement gaps still hamper growth in APAC
Insight into how client mandates and operational readiness are shaping who moves and who waits
Perspective on what institutional investors need to move toward actual digital asset capital deployment
The persisting price drops test the industry's commitment to crypto adoption. While on-chain innovation is making headway across market mechanics, from stablecoins to tokenization, investors remains cautious.
This session brings together market structure experts and institutional investors to explore how a prolonged bear market affects their long-term strategy, and where the opportunities lie ahead of the next cycle.
Attendees will walk away with:
First-hand account of the bear market's impact on various industry players
Understanding of what custody, connectivity, and settlement gaps still hamper growth in APAC
Insight into how client mandates and operational readiness are shaping who moves and who waits
Perspective on what institutional investors need to move toward actual digital asset capital deployment
The persisting price drops test the industry's commitment to crypto adoption. While on-chain innovation is making headway across market mechanics, from stablecoins to tokenization, investors remains cautious.
This session brings together market structure experts and institutional investors to explore how a prolonged bear market affects their long-term strategy, and where the opportunities lie ahead of the next cycle.
Attendees will walk away with:
First-hand account of the bear market's impact on various industry players
Understanding of what custody, connectivity, and settlement gaps still hamper growth in APAC
Insight into how client mandates and operational readiness are shaping who moves and who waits
Perspective on what institutional investors need to move toward actual digital asset capital deployment
