Saxo Bank sees 13% decline in October FX trading volumes
Copenhagen based Retail FX and CFDs broker Saxo Bank has reported its October 2022 client trading volumes, indicating a slight slowdown in overall activity from what was a very strong September at Saxo, led by a double-digit-percent decline in core FX trading.
Mirroring what was happening in the institutional FX trading arena in October with more muted currency volatility, Saxo Bank reported a 13% MoM decline in FX trading volumes, $127.9 billion versus September’s $146.7 billion.
Total multi-asset trading volumes at Saxo were down by 3% MoM in October, $432.2 billion versus $444.4 billion last month.
In summary for October 2022:
- FX trading volumes $127.9 billion, -13% MoM.
- Equities $256.5 billion, +4%.
- Commodities $36.4 billion, -8%.
- Fixed Income $11.4 billion, +9%.
Saxo Bank recently announced plans to go public on the Euronext Amsterdam exchange, via a SPAC merger. The company is controlled by Chinese conglomerate Geely Group.