Saxo Bank Registers the Second Consecutive Monthly Drops in Client Trading Volume for July 2023

Saxo Bank, the Copenhagen based online trading and investment specialist, has released its client trading data for July 2023, registering the total monthly volume of $371.9 billion, an increase of 15.5% compared to $322.0 billion in July 2022 and a decrease of 5.1% compared to $391.7 billion in June 2023. Average daily volume (ADV) totaled $17.7 billion, 15.7% higher than $15.3 billion in a year-ago month and 0.6% lower than $17.8 billion in the prior month.

More specifically, trading volume of FX amounted to $112.9 billion for the month, down 2.6% compared to $115.9 billion in July 2022 and down 5.5% compared to $119.5 billion in June 2023. ADV of FX decreased by 1.8% from $5.5 billion in July 2022 to $5.4 billion, the same as its had been the previous month.

Equities traded for the month came in at $222.1 billion, 33.6% higher than $166.2 billion in the same period of last year and 4.9% lower than $233.5 billion in last month. ADV of equities increased by 34.2% from $7.9 billion to $10.6 billion on a YoY basis, the same as its had been the previous month.

Trading volume of commodities totaled $29.6 billion, dropping 8.4% compared to $32.3 billion in July 2022 and dropping 7.8% compared to $32.1 billion in June 2023. ADV of commodities was $1.4 billion for the month, compared to $1.5 billion both in June 2023 and July 2022.

Trading volume of fixed income accounted for $7.3 billion, 5.2% lower than $7.7 billion in the same month of 2022 and 10.6% higher than $6.6 billion in the prior month. ADV of fixed income was $0.3 billion, compared to $0.3 billion in the prior month and $0.4 billion in last July.