Saxo Bank’s trading volume jumps 45% m/m in Feb 2016

Saxo Bank’s trading volume jumps 45% m/m in Feb 2016

Saxo Bank, a Danish bank specialized in providing online trading services, forex included, posted a trading volume of $259 billion in February 2016, posting an increase of nearly 45% over the year. The value is relatively unchanged compared to a month earlier.

The broker’s daily average trading volume jumped by an annual 39% to $12.3 billion last month. Compared to January, though, the volume went down by 4.7%.

Clients’ collateral deposits for trading amounted to nearly $11 billion in February. This represents a slight decline of 1.3% over the year and a slight increase of 1.5% on a monthly basis.

Saxo Bank Feb 2016Some other forex brokers have posted their February trading volumes, as well. Unlike Saxo Bank, however, most of they registered large monthly increases. For instance, Japanese brokerage Monex Group posted last month a monthly increase in trading volume from global forex operations of 13% to $42.9 billion, while GMO Click Securities and FX Prime by GMO, both part of Japanese forex brokerage GMO Click Holdings, saw their February OTC forex trading volumes up by a monthly 17% to JPY 144.3 trillion and by 32% to JPY 16.8 trillion, respectively. However, Exness, a forex brokerage regulated in Cyprus and Belize, said its trading volume went down by a monthly 2.5% to $192.4 billion last month.

Saxo Bank acts as a Market Maker and has 30,000 financial instruments available on its platforms, including forex, binary options on forex and stocks and contracts, CFDs, stocks, futures, and bonds, among others. It is headquartered in Copenhagen, Denmark, and operates through its subsidiary companies across Europe, Asia and the Middle East, Australia, South America, and South Africa. The company is licensed and regulated by the Danish Financial Supervisory Authority (FSA) and has units that are fall under the regulation of a number of other regulatory bodies worldwide.

Source: Saxo Bank

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