After Bumpy August, Saxo Volumes Back to Normal
Retail broker Saxo Bank released its trading volumes for September on Monday.
With a total volume of $223.5 billion, the Danish firm saw a slight downturn in trading last month.
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In August, the broker reported a trading volume of $282.9 billion.
The decline in volumes in September was largely down to a decrease in equities trading. In August, Saxo Bank reported $87.4 billion in stock trading. For September, the figure was $53.4 billion.
In this instance, it was August – not September – that was more unusual. Equities trading spiked two months ago, with greater volatility driving market activity. Along with Saxo Bank, Nasdaq reported its highest levels of stock trading thus far in 2019 back in August.
Foreign exchange volumes also shrank in September when compared to August. Saxo Bank reported a total currency trading volume of $118.6 billion last month, a 15 percent decline on August’s $139.1 billion.
Again, this disparity was likely due to greater market volatility in August – as opposed to the broker having a bad month. Aside from March, August saw the Danish firm recording its highest levels of currency trading this year.
In the commodities and fixed income markets, there wasn’t much change in trading volumes last month.
Back in August, Saxo Bank reported a trading volume of $43.3 billion in the commodities markets. In August, that number was $38.3 billion.
For fixed income, the difference in trading volumes was negligible, with the broker reporting total trading volumes of $13.1 billion in August and $13.2 billion in September.
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