Saxo Bank, a Danish bank specialized in providing online trading services, forex included, generated a trading volume of $255 billion in May 2016, which is 1.9% below the previous month’s value, yet posting an increase of 16.4% year-on-year.
The figure indicates rather stable results, considering Saxo Bank’s overall low volumes in the past months. The last time the broker’s trading volume exceeded $300 billion was in January last year.
Saxo Bank’s daily average trading volume amounted to $12.3 billion in May, posting a monthly decline of 6.5% and an annual increase of 11.5%. Clients’ May collateral deposits for trading jumped both over the month and on the year by 1.3% and 6.6%, respectively, to $12.2 billion.
Some other forex brokers have also posted their trading volumes for May, as well, while other are expected to do it later in the month. GMO Click Securities and FX Prime by GMO, both part of Japanese forex brokerage GMO Click Holdings, saw their OTC forex trading volumes post a monthly decline in May. That of GMO Click Securities was down below the threshold $100 trillion for the first time since the beginning of 2016. FX Prime, on the other hand, saw a drop of nearly 32% over the month to JPY 4.8 trillion.
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
