Year over year volume performance is down a bit as well. In March 2013, average daily volume stood at $15.1bn, total volume was $317bn
Monthly volume figures at leading and LeapRate approved Danish brokerage Saxo Bank have been released for the month of March and the number is out at $239bn. That’s a decline of roughly 10% from the month of February, where volumes stood at $264bn. The daily average for March came in at $11.1bn a dip from the $13.2bn in February. Clients collateral deposits for trading stands at an all time high of $8.89bn compared with last March when they stood at $6.40bn, a 39% increase y/y.
This news come as we have learned from FX Week that “Elizabeth Missfeld, a foreign exchange dealer at Saxo Bank, has been appointed FX product manager on the same day the bank has launched USD/CNH options contracts on SaxoTrader.” With the introduction of new renminbi assets to trade like the new options contracts, renminbi gold pairs, and tightening of CNH spreads, surely Saxo is banking on an increase in volumes.
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