Saxo Bank trading volumes fall 34% in April 2023 to $319B
Saxo Bank saw declines in the trading volume of all its asset groups, with core FX pair trading falling to its lowest level since 2021.
Saxo Bank saw declines in the trading volume of all its asset groups, with core FX pair trading falling to its lowest level since 2021.
March 2023 marks Saxo Bank’s best result since volatility at the outbreak of COVID-19 led to $496.9B in volumes in March 2020.
In 2022 Saxo Bank averaged $405 billion in monthly client trading volume, and so far in 2023 that figure is at $368 billion.
Guotai’s China based client base gain more access to global financial instruments and products, via Saxo Bank’s multi-asset offering.
Leading the decline at Saxo was a 21% slowdown in Equities trading to $219.7 billion, and a 17% decline in FX trading to $115.2 billion.
In December Saxo Bank pulled out of a $2 billion merger transaction with a special purpose acquisition company, or SPAC.
Saxo Bank had a much better 2022 (activity-wise), with monthly trading volumes of $405 billion up by 32% from $308 billion in 2021.
Steen Blaafalk was Chief Risk and Compliance Officer, and one of just four Saxo Bank Group Board of Management Board members.
The Saxo deal the second failed attempt by a Retail FX and CFDs broker to go public via the SPAC route, in just the past six months.
One of the most anticipated (and entertaining) reads of the year in the FX world is the annual Saxo Bank Outrageous Predictions.