Continuing a fairly slow October we have seen at some of the world’s leading FX and CFD brokers, Copenhagen based multi asset broker Saxo Bank has released figures indicating that FX and overall trading activity was down slightly month-over-month.
Overall, total multi-asset trading volumes at Saxo Bank were down 4% MoM in October, $328.5 billion versus $342.6 billion in September. We’d note that monthly volumes at Saxo Bank have remained in a fairly stable $330-$350 billion band for the past six months.
Saxo Bank reported slight decreases in October volumes across all of its major traded products, with FX volumes down 3% to $238 billion, and Commodities off 7% to $32 billion.
Other than where trading volumes are concerned Saxo Bank has had a very busy few weeks, led by its hiring of longtime ETX Capital CEO Andrew Edwards as the new CEO of its UK operation. Saxo Bank also launched a new quant and risk tools unit, with outside hires from Danske Markets.