Danish broker Saxo Bank has released its financial figures for August, showing an increase in monthly client trading volumes.
The broker said that during the period under review, client trading volumes rose 22% month-on-month to $453.7 billion, up from $371.9 billion in July. Saxo Bank said that equity trading was the main driver of client volume growth in August, accounting for 65% of total trading volume.
According to the FNG portal, equity trading volume was $295.8 billion in August, up 33% from $222.1 billion the previous month.
Equity trading accounted for 65% of Saxo Bank's total trading volume in August. Foreign exchange trading fell 1% month-on-month to $112.3 billion. Demand for commodities rose 28% to $37.9 billion in August, while demand for fixed-income products increased 7% to $7.8 billion.
Recall that earlier, the Danish regulator required Saxo Bank to get rid of cryptocurrency assets. Also, Saxo Bank has been designated a systemically important financial institution (SIFI) by the FSA. This means that the financial institution plays an important role in ensuring the stability and proper functioning of the Danish financial system but is subject to stricter capital requirements than regular banks.
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