<p>Saxo Bank has published the trading metrics on its platforms for January, reporting a decline in total monthly trading volume. The overall trading volume came in at $375.6 billion, a dip of 9.6 percent from <a href=”https://www.financemagnates.com/forex/saxo-bank-posts-12-decline-in-december-fx-demand/” target=”_blank” rel=”follow”>the previous month</a>. The figure went down by about 14.3 percent when compared year-over-year.</p><p>Saxo Bank’s January FX Volume Dips</p><p>In January, Saxo’s monthly volume for <a href=”https://www.financemagnates.com/terms/f/forex/” class=”terms__main-term” id=”6faa6714-7f7b-4d23-b1c5-c0d40807d613″ target=”_blank”>forex</a> instruments declined by 5 percent from the previous month to $115.2 billion. However, the latest reported FX volumes strengthened by over 6 percent compared with the first month of the previous year.</p><p>The daily average with FX instruments on the platform came in at $5.2 billion in January, down from $5.5 million in December.</p><p>The demand for <a href=”https://www.financemagnates.com/terms/e/equities/” class=”terms__secondary-term” id=”d6e02698-4c6b-44dd-ab57-9ff12763325c” target=”_blank”>equities</a> instruments also showed a similar trend, with a total monthly volume of $219.7 billion, a month-over-month decline of over 14 percent. The figure also declined annually by about 25 percent, while the daily average volume came in at $10 billion.</p><p>Saxo also offers commodities and fixed-income instruments, and the monthly volume of the two asset classes came in at $32.8 billion and $7.9 billion, respectively. While commodities demand dropped marginally from the previous month’s $30.8 billion, demand for fixed-income instruments remained flat.</p><p>A Failled Public-Listing Attempt</p><p>Saxo Bank is headquartered in Denmark and was originally founded as a brokerage firm in 1992. The company mulled becoming public last year and also inked a deal with a blank-check company. However, that deal was <a href=”https://www.financemagnates.com/forex/breaking-saxo-bank-terminates-spac-deal-ending-public-listing-ambitions/” target=”_blank” rel=”follow”>mutually terminated</a> with “timing” in question.</p><p>The company is still keeping the possibilities for a public offering open. CEO Kim Fournais said in an interview that the company did not scrape its public-listing ambition yet and <a href=”https://www.financemagnates.com/forex/saxo-bank-keeps-all-options-open-says-copenhagen-listing-possible/” target=”_blank” rel=”follow”>could launch an initial public offering (IPO)</a> as early as this year.</p><p>Meanwhile, the Saxo group’s revenue for the first half of 2022 declined by 12 percent to DKK 2.14 billion. Its net profit for the year-half tanked at more than 41 percent to DKK 302 million due to “difficult market conditions.”</p>
This article was written by Arnab Shome at www.financemagnates.com.
