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Saxo Bank trading volumes rise 28% in May 2023 to $407B

Gerald Segal 0 Comments June 7, 2023

Following a very slow month of April, client trading activity increased by 28% in May 2023 at Copenhagen based Retail FX and CFDs broker Saxo Bank.

Overall, trading volume totaled $407 billion for the month, up from $319 billion in April. The increase was led by a healthy 31% jump in Equities trading in May, to $228.2 billion, versus $174.7 billion the prior month.

Saxo’s core FX trading volumes also increased by 27% in May to $130.5 billion, versus a multi-year low of $102.8 billion in April. Fixed income trading was up by 12% to $7.6 billion, while Commodities trading came in at $40.7 billion, up 19%.

We reported in early 2023 that Saxo Bank is eyeing a traditional IPO in its home market (Nasdaq Copenhagen) following its failed attempt last year to go public via a SPAC merger. Saxo Bank is controlled by China’s Geely Group and Finland’s Sampo.

Gerald Segal

Gerald is one of the most experienced writers covering the online trading sector. Prior to starting FNG, Gerald founded Forex industry news website LeapRate.com in 2010, selling it in 2018 to publicly traded Catena Media plc (STO:CTM). An avid skier, cyclist and ice hockey player, Gerald was previously an investment banker for more than a decade at Bear Stearns, Robertson Stephens, and Merrill Lynch. Gerald holds an MBA from Columbia University in New York and a BCOM degree from the University of Toronto.