Saxo Bank Reports a Dip in FX Volumes during August

Saxo Bank, a leading online financial trading services provider, recently released its trading volumes for August 2021. The company saw a dip in the total daily average and monthly volumes during the last month.

According to the recent numbers, FX daily average volume reached $4.4 billion in August 2021, which is down by nearly 13% compared to $5.1 billion in July 2021. In terms of FX monthly volume, the number touched $96.8 billion last month, compared to $111.9 billion in July 2021.

Apart from FX, volumes related to Equities also dropped in August. Saxo Bank reported Equities-related daily average volumes of $5.8 billion last month, compared to $7.1 billion in July 2021. Equities monthly volume reached $126.8 billion in August 2021, compared to $155.4 billion in July.

In terms of Commodities, the monthly volume reached $34 billion in August, compared to $35.3 billion in July. Despite the latest dip in the volume of FX, Commodities, and Equities, the monthly volume related to Fixed Income saw a jump in August 2021. The number reached $7.3 billion last month, compared to $6.9 billion in July.

In August 2021, Saxo Bank announced the selection of Camilla Dahl Hansen as Chief Saxo Experience Officer after Niels Bremer Jørgensen’s decision to leave his position at Saxo Bank.

Saxo Bank’s H1 2021 Results

Saxo Bank Group recently reported its financial results for the first half of 2021. The financial services provider highlighted a sharp increase in the total number of active clients as more than 159,000 new active clients opened an account with Saxo Bank during the first six months of 2021. “As of June 30th, we service more than 790,000 clients and hold DKK 595 billion in clients’ assets, which is another record-breaking milestone in Saxo Bank’s 29-year history. It took 25 years to reach the DKK 100 billion milestone and then only 4 years to add an additional DKK 500 billion in clients’ assets,” Kim Fournais, CEO and founder of Saxo Bank, recently commented on the company’s financial results for H1 2021.

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