Saxo Bank sees 18% MoM rise in forex trading in May

Saxo Bank has released its trading results for May 2022. The Denmark-headquartered financial services provider registered small increases compared to the previous month, as well as on yearly basis.

Last month, the total trading volume came in at $421.6 million, seeing a 23% rise from April’s $342.6 million. On yearly basis, the trading volumes were 41.2% higher from May 2021.

Forex trading in May 2022 also witnessed an uptick compared to previous month. One of the main revenue contributors along with equities, forex numbers stood at $149.6 million, up by 18.5% compared to $126.20million the previous month. On yearly basis, there was a 43.4% increase.

Saxo Bank

The daily average in forex trading came in at $6.8 billion, up from the previous month’s $5.7 billion and from May 2021’s $5.0 billion.

Equities registered a 30.2% MoM rise to $220.1 million last month and gained 55.1% compared to the previous year.

Fixed income instruments brought in $10.7 million registering a 24.4% increased compared to April 2022 and 18.9% compared to May 2021. The demand for commodities registered little change with slight uptick compared to the previous month and a slight drop on yearly basis at $41.2 million.

Saxo has recently been adding new talent to its leadership. Joanna Moberly joined Saxo Markets UK as new head of legal in late May and Charu Chanana was appointed as Market Strategist in Singapore.

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