Saxo Bank FX trading volume falls 17% MoM in April

Saxo Bank has released its trading results for April 2022. The Denmark-headquartered financial services provider saw decreases across all sections of the market on monthly basis, however compared to the same period last year, the numbers were up.

The total month trading volume came in at $342.60 million, registering a 25.6% drop from March’s $460.40 million. On yearly basis, the trading volumes were 22.6% higher from April 2021.

April’s forex numbers, which is one of the main contributors to the company’s revenue along with equities, also saw a dip on monthly basis, registering $126.20 million, down 17% compared to $152.20 million the previous month. On yearly basis, there was almost no change.

Saxo Bank

The daily average in forex trading was stood at $5.7 billion, down from the previous month’s $6.6 billion. However, the number is slightly up from April 2021’s $5.6 billion.

Equities registered a 27% MoM drop to $169.10 million last month but it gained 48.1% compared to the previous year.

Fixed income instruments brought in $8.6 million registering little change on monthly and yearly basis. The demand for commodities, however, sunk 42.9% to $38.6 million, compared to March.

Saxo has recently been adding new talent to its leadership. Its Hong Kong arm announced the appointment of Sean Ma as Head of Saxo Institutional. The company also recently hired Ken Shih as the Head of Wealth Management in Greater China and Henrik Andersen as a board member.

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