For the second month in a row, it looks like Forex and multi-asset trading volumes have fallen by more than 20% at Copenhagen based Retail FX broker Saxo Bank.
After reporting record volumes in February, total volumes fell by 23% in March and now again by another 21% in April at Saxo Bank.
For April, FX trading volumes came in at $245.4 billion at Saxo Bank, down 23% from March – and down by 43% from February’s record volumes. Equities volumes at $81 billion in April were down 25% from March, and Fixed Income volumes of $11 billion were off by 35%. On the plus side, Commodities volumes came in at $35 billion, up by 21%.
In total, April volumes of $372 billion at Saxo were down by 21% from March’s $472 billion.
Outside the volumes arena Saxo Bank has had a very busy start to the year. Saxo Bank made the interesting move of transferring its entire banking platform and technology stack to Microsoft Cloud. And the new China-based ownership group at Saxo Bank – while yet to formally take over, as final regulatory approvals are received – is already making its mark on the company by paring assets such as an exit from the South Africa FX market, while expanding further in China by partnering with SINA Corp’s Valuable Capital, and in Italy via a joint venture with Banca Generali.