Saxo Bank’s FX volume falls 12%MoM in December but strengthens 27% YoY

Saxo Bank has released its trading results for December 2022. The Denmark-headquartered financial services provider registered a small decline compared to the previous month but the numbers remained on an upward trend on yearly basis.

Last month’s total trading volume stood at $415.7 million. The number marked a 9.3% decrease from November’s $458.4 million. On yearly basis, however, the trading volumes jumped 15%.

The platform saw forex trading volume of $121.3billion in December, registering a 12% drop compared to previous month’s $138 billion. The numbers surged 26.8% compared to December 2021.

Saxo Bank

The average daily volume (ADV) in forex instruments stood at $5.5 billion. The figure fell 12.7% on monthly basis but registered a 31% increase compared to December last year.

The brokerage firm reported that demand in Equities continued its upward trajectory. The volume in December was $255.7 billion, falling 8.3% compared to November. On yearly basis, the asset class registered an increase of 9.7%.

Fixed income instruments brought in $9.4 million, dropping 16% compared to the previous month. The demand for commodities declined 4% on monthly basis at $30.8 million

In December, Mads Dorf Petersen was appointed as CFO at Saxo Bank in a permanent capacity after holding the position on an interim basis since October.

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