<p>Saxo Bank, the Denmark-headquartered brokerage, published its trading metrics for November, reporting a surge in forex trading activities. The total monthly FX volume came in at $138 billion, 7.8 percent higher than the previous month.</p><p>The daily average with <a href=”https://www.financemagnates.com/forex/analysis/retail-fxcfd-analysis-august-ftd-values-hit-all-time-low/” target=”_blank” rel=”follow”>forex trading</a> volume for the month came in at $6.3 billion compared to $6.1 billion in the previous month. It was a 3.2 percent month-over-month increase. Year over year, the total trading demand and the ADV increased by 40 percent each.</p><p>Strong Overall Demand</p><p>The overall monthly volume for the month also strengthened to $458.4 billion from October’s $432.2 billion, a month-over-month increase of 6 percent. The figure doubled by about 57 percent from November 2021. The ADV at $20.8 billion also strengthened by marginally 1 percent month-over-month and over 56 percent year-over-year.</p><p><a href=”https://www.financemagnates.com/tag/saxo-bank/” target=”_blank” rel=”follow”>Saxo</a> is a major platform for retail and professional trading services. Besides forex, it also offers equities, commodities, and fixed-income instruments. It also provides cryptocurrency trading services in some non-European markets.</p><p>In November, the equities trading demand went up to $278.9 billion from $256.5 billion in October and $156.2 billion in November 2021. The ADV for the month at $12.7 billion witnessed a monthly increase of 4 percent and a yearly of about 79 percent.</p><p>However, the demand for fixed-income and commodities went down last month. The total commodities monthly volume came down to $32.1 billion from the previous month’s $36.4 billion. It was the second consecutive month of slowing trading activities with this asset class. The ADV came in at $1.5 billion, a decline from October’s $1.7 billion but an increase from $1.4 billion in November 2021. Trading activities with fixed income showed a similar trend as ADV declined by 17.5 percent from the previous month and strengthened by 39 percent from the same month of the previous year.</p><p>Meanwhile, Saxo has also been making some changes to its top management. It recently onboarded <a href=”https://www.financemagnates.com/executives/moves/saxo-uk-onboards-simon-camilleri-as-new-coo/” target=”_blank” rel=”follow”>Simon Camilleri</a> as the new COO of the UK subsidiary, while <a href=”https://www.financemagnates.com/executives/saxo-bank-selects-mads-petersen-as-interim-cfo-as-mette-pedersen-exits/” target=”_blank” rel=”follow”>Mads Petersen</a> has been named as the Interim CFO of the group.</p>
This article was written by Arnab Shome at www.financemagnates.com.
