Saxo Bank, the Danish online trading and investment bank, reported a decline in total trading volume in September.
Saxo Bank's total trading volume for the period fell 3% month-on-month to $438.3 billion from $453.7 billion in August. Despite the decline in activity across all traded asset classes, September's figure is the third best since the start of 2023, FNG said.
Notably, the daily average rose to $20.9 billion from $19.7 billion due to fewer trading days in September.
The breakdown showed that the figures for September 2023 were as follows:
- Foreign exchange fell 6% for the month to $106.1 billion.
- Equity trading fell 2% to $289.1 billion.
- Commodities fell 3% to $36.7 billion.
- Fixed income trading was down 18% to $6.4 billion.
It is worth noting that Saxo Bank's operating profit rose 34% to DKK 520 million in the first half of 2023.
Saxo Bank offers clients from 170 countries access to various financial markets as well as the opportunity to earn additional income by investing in ready-made, diversified portfolios.
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