Saxo Bank Registers Overall Trading Volume Increase Across Markets for August 2023

Saxo Bank, the Copenhagen-based online trading and investment specialist, has released its client trading data for August 2023, recording the total trading volume for the month of $453.7 billion, 22.0% higher than $371.9 billion in July 2023 and 45.5% higher than $311.8 billion in August 2022. Average daily volume (ADV) during the period came in at $19.7 billion, up 11.3% compared to $17.7 billion in the prior month and up 44.9% compared to $13.6 billion in August of last year.

More specifically, the trading volume of FX for the month totaled $112.3 billion, a slight decrease of 0.5% compared to $112.9 billion in July 2023 and an increase of 2.3% compared to $109.8 billion in the same period of last year. ADV of FX fell by 9.3% from $5.4 billion to $4.9 billion on a month-on-month basis, rising by 2.1% compared to $4.8 billion in last year's August.

Equities traded for the month came in at $295.8 billion, 33.2% higher than $222.1 billion in the previous month and 79.9% higher than $164.4 billion in August of 2022. ADV of equities was $12.9 billion for the month, increasing by 21.7% compared to $10.6 billion in July this year and jumping by 81.7% compared to $7.1 billion in August of last year.

Trading volume of commodities amounted to $37.9 billion for August 2023, up 28.0% compared to $29.6 billion in the prior month and up 29.8% compared to $29.2 billion in the same month of 2022. ADV of commodities was $1.6 billion, increasing by 14.3% on a monthly basis (July 2023: $1.4 billion) and increasing by 23.1% on a yearly basis (August 2022: $1.3 billion).

Fixed income traded for August 2023 reached $7.8 billion, 6.8% higher than $7.3 billion in July 2023 and 8.2% lower than $8.5 billion in August 2022. ADV of fixed income fell by 25% from $0.4 billion in August 2022 to$0.3 billion in the month, the same as its had been the previous month.