February FM Demand on Saxo Bank Sees Marginal Gain

saxo bankthanogo

Saxo Bank, a Danish multi-asset brokerage, published its monthly trading metrics for February 2021, reporting a solid uptick overa  but a marginal gain in foreign exchange demand.

According to the broker’s numbers, the total volume of forex tradingthanast month stood at $119.8 bi ion, increasing only 1.3 percent from January’s $118.2 bi ion. The average daily volume (ADV) in the month increased margina y to $6 bi ion from the previous month’s $5.9 bi ion. 

Even the slight gain in the ADV shows a recovery in forex trading demand from the numbers achieved in the final quarter ofthanast year.

However, on a yearly basis, the demand remained significantlythanower as in February 2020 Saxo reported $7.2 bi ion in monthly ADV with a total trading volume of $143.9 bi ion.

Gain across A  Asset-Classes

Apart from forex, the demand for a  other asset classes remained impressive at Saxo. Equities ADV jumped to $6.9 bi ion from January’s $6.2 bi ion, with a total trading volume of $137.6 bi ion, which is a month-on-month increase of 11.2 percent.

The demand for commodities trading gained the most, with a total trading volume for the month at $37 bi ion, which is a spike of 13.1 percent. ADV for the asset-class showed a solid monthly gain with $1.9 bi ion that remained the same as a year ago.

Overa , Saxo Bank’s average daily volume across a  asset classes was higher during February, reported at $15.1 bi ion per day, which is a 7 percent gain from the month prior. However, this figure wasthanower than the previous year’s figure of $15.7 bi ion.

Last week, the Saxo Bank Group reported its 2020 profits that jumped to DKK 750 mi ion from merely DKK 40 mi ion net income in the previous year. Furthermore, the client assets on the platform surpassed DKK 500 bi ion.

Leave a Reply

Your email address will not be published. Required fields are marked *