Saxo Bank's March 2024 Total Trading Volume Recovers from Previous Month

Saxo Bank, the Copenhagen-based online trading and investment specialist, has updated its trading data for March 2024, reporting a total trading volume for the month of $377.7 billion, 5.4% higher than $358.3 billion in the prior month and 21.7% lower than $482.1 billion in the year-ago month. Average daily volume (ADV) for the month was $18.0 billion, an increase of 5.3% compared to $17.1 billion in February this year and a decrease of 14.3% compared to $21.0 billion in March of last year.

More specifically, the trading volume of FX for the month totaled $85.1 billion, down 7.9% compared to $92.4 billion in the previous month and down 45.3% compared to $155.6 billion in the same period of last year. ADV of FX dropped 6.8% from $4.4 billion to $4.1 billion on a month-on-month (MoM) basis, a decrease of 40.0% compared to $6.8 billion in March of 2023.

Equities traded for the period came in at $239.2 billion, rising 10.0% compared to $217.4 billion in February 2024 and dropping 8.0% compared to $259.9 billion in March 2023. ADV of Equities was $11.4 billion, up 9.6% compared to $10.4 billion in the prior month and up 0.9% compared to $11.3 billion in the year-ago month.

Trading volume of commodities amounted to $44.1 billion for the month, an increase of 13.1% compared to $39.0 billion in February 2024 and a slight decrease compared to $44.2 billion in March 2023. ADV of commodities was $2.1 billion, increasing 10.5% compared to $1.9 billion both in this February and last year's March.

Fixed income trading volume for March 2024 totaled $9.3 billion, down 2.1% compared to $9.5 billion in the prior month and significantly down 58.5% compared to $22.4 billion in the same period of 2023. ADV of fixed income was $0.4 billion, compared to $0.5 billion in the prior month and $1.0 billion in March of last year.