Saxo Bank has released its trading results for November 2022. The Denmark-headquartered financial services provider registered a jump in forex trading and sections of the market on monthly, as well as yearly basis.
Last month’s total trading volume stood at $458.4 million. The number marked a 6% increase from October’s $432.2 million. On yearly basis, the trading volumes jumped 32.7%.
The platform saw forex trading volume of $138 billion in November, registering a 7.9% rise compared to previous month’s $127.9 billion. The numbers also surged 39% compared to November 2021.
The average daily volume (ADV) in forex instruments stood at $6.3 billion. The figure was 3.3% higher on monthly basis and registered a 40% increase compared to November last year.
The brokerage firm reported that demand in Equities continued its upward trajectory. The volume in November was $278.9 billion, gaining 8.7% compared to October. On yearly basis, the asset class registered a surge of 78.6%.
Fixed income instruments brought in $9.4 million, falling 17.5% compared to the previous month. The demand for commodities declined 11.8% on monthly basis.
Earlier in November, Saxo announced the appointment of Simon Camilleri as Chief Operating Officer and board member of its subsidiary, Saxo UK Limited.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.