<p>Saxo Bank has published its FX trading metrics for December 2022, reporting a monthly decline in demand across all asset classes. The overall monthly trading volume on Saxo’s platform came in at $415.7 billion last month, which is a month-over-month drop of 9.3 percent.</p><p>FX Demand on Saxo Bank</p><p>Additionally, the demand for retail <a href=”https://www.financemagnates.com/terms/f/forex-trading/” target=”_blank” id=”258a569f-bf49-4a61-a1b4-bc352d76141f_1″ class=”terms__main-term”>forex trading</a> decreased, with a total monthly volume of $121.3 billion compared to $138 billion in November. It was a month-over-month decline of 12.1 percent. The average daily trading volume with FX instruments also dropped 8 percent to $5.5 billion.</p><p>The monthly dip was expected due to the impact of the end-year holidays on the industry. It is a <a href=”https://www.financemagnates.com/institutional-forex/fxspostream-sees-144-mom-decline-in-decembers-adv/” target=”_blank” rel=”follow”>cyclical decline in demand</a> that happens every year at the year-end and in the summer months.</p><p>However, the latest figures strengthened significantly when compared with year-old numbers. The monthly forex trading demand increased by 26.7 percent compared to the previous year’s $95.7 billion.</p><p>Check out the recent London Summit interview with Saxo Bank’s UK CEO, Charlie White Thomson.</p><p>Monthly Dip in Demand on Saxo Bank Offerings</p><p>Demand for <a href=”https://www.financemagnates.com/terms/e/equities/” target=”_blank” id=”d6e02698-4c6b-44dd-ab57-9ff12763325c_1″ class=”terms__secondary-term”>equities</a> instruments showed similar trends last month. Saxo ended December with a total equities monthly volume of $255.7 billion. The figure was at $278 billion in the previous month and $233 billion in December 2021. The daily average with equities instruments came in at $11.6 billion in December 2022, declining from November’s $12.7 billion but strengthening from $10.1 billion in December 2021.</p><p>On top of that, Saxo offers commodities and fixed-income instruments to traders. Demand for both these instruments declined on a month-over-month basis. In December, the monthly volume of commodities came in at $30.4 billion, which is down from $32.1 billion in the previous month. Fixed income monthly volume also dipped to $7.9 billion from $9.4 billion.</p><p>Last month, Saxo <a href=”https://www.financemagnates.com/forex/breaking-saxo-bank-terminates-spac-deal-ending-public-listing-ambitions/” target=”_blank” rel=”follow”>terminated its deal with a blank-check firm</a>, thus ending its ambitions to become a public company. Meanwhile, the Danish broker recently named <a href=”https://www.financemagnates.com/executives/moves/saxo-bank-names-mads-dorf-petersen-as-permanent-cfo/” target=”_blank” rel=”follow”>Mads Dorf Petersen as the Group CFO</a>. He has already held the role in an interim capacity since October.</p>
This article was written by Arnab Shome at www.financemagnates.com.
