Saxo Bank trading volumes down 9% in December 2022
Copenhagen based Retail FX and CFDs broker Saxo Bank has reported its client trading volume stats for December 2022, indicating a (usual seasonal) 9% MoM decline in activity, to $415.7 billion.
All of Saxo’s product groups saw a decrease in volumes for December, with its core FX trading volume off 12%, to $121.3 billion for the month.
But in the big picture, Saxo Bank had a much better 2022 than 2021 (activity-wise), with average multi-asset monthly trading volumes coming in at $405 billion last year, up by 32% from $308 billion in 2021.
On another front, however, 2022 was a tough one for the company. Saxo Bank, which is controlled by China’s Geely Group, attempted to go public on the Euronext Amsterdam exchange via a SPAC merger, but ultimately cancelled those plans soon before year-end.
In summary for December 2022 at Saxo Bank:
- FX trading volumes $121.3 billion, -12% MoM.
- Equities $255.7 billion, -8%.
- Commodities $30.8 billion, -4%.
- Fixed Income $7.9 billion, -16%.