Copenhagen based multi asset broker Saxo Bank has reported December FX trading volumes of $253 billion, or $11.5 billion average per trading day.
The $253B figure is 26% below November’s near-record monthly volumes of $344 billion at Saxo Bank, but still a fairly strong result for the seasonally slow month of December.
For the full year 2016, Forex trading volumes at Saxo Bank came in at $3.16 trillion, 17% above 2015’s $2.69 trillion. Saxo had at least $250 billion in volume every month of the year in 2016, except August.
Strategically, Saxo Bank has been expanding in China via white label partnerships with Phoenix Finance as well as with with Chinese internet finance giant Lufax. On the institutional side, Saxo Bank hs been active boosting its FX Prime Brokerage service with global market access and a collateral optimization solution